Refinance Savings Over Time

Step 1 – Your Current Loan

Current Mortgage

Current loan balance ($)

Current interest rate (annual %)

Original loan term (years)

Years already paid on this loan

This calculator assumes a standard fixed-rate, fully amortizing mortgage with no interest-only periods.

Step 2 – Possible New Loan

New Mortgage Scenario

New interest rate (annual %)

New loan term (years)

Estimated closing costs you would roll in or pay ($)

This tool assumes you refinance the remaining balance plus any financed closing costs into the new loan scenario.

Step 3 – Time Horizon

How Long Do You Expect to Keep This New Loan?

Years you might keep the new loan

Calculate Refinance Savings

Refinance Comparison (Illustrative)

What These Numbers Mean

• Monthly difference gives a quick sense of immediate payment impact.
• Breakeven shows how long it might take monthly savings to offset closing costs.
• Total paid comparison shows how much P&I you might pay over your chosen horizon in each scenario.

Ask for a Written Refinance Outline