Refinance Calculator
Compare current mortgage with refinanced loan to determine savings and break-even point.
Refinance Calculator
Compare your current mortgage with a refinanced loan to determine potential savings and break-even point
Current Loan
$
New Loan
$
$
Total Lifetime Savings
$466,084
by refinancing
Monthly Savings
$2,589
Lower payment
Interest Savings
$566,084
Less interest paid
Break-Even Point
39
3.2 years
Side-by-Side Comparison
| Metric | Current Loan | New Loan | Difference |
|---|---|---|---|
| Loan Amount | $3,000,000 | $3,100,000 | $100,000 |
| Interest Rate | 9.5% | 7.5% | -2.00% |
| Loan Term | 15 years | 15 years | 0 years |
| Monthly Payment | $31,327 | $28,737 | $2,589 |
| Total Interest | $2,638,813 | $2,072,729 | $566,084 |
| Total Payment | $5,638,813 | $5,172,729 | $466,084 |
Monthly Payment Comparison
Cumulative Savings Timeline
Refinancing Analysis
✓You could save $466,084 over the life of the loan
✓Monthly payment would decrease by $2,589
âš Break-even point is 39 months (3.2 years)
âš Consider: Refinancing may be worthwhile if you plan to stay long-term