Refinance Calculator
Break-even timing, what refinancing looks like today, and what rate you need for a given timeline.
Rates are estimates based on Freddie Mac averages. Actual rates may vary based on lender.
Inputs
Initial loan balance ($)
Current loan balance ($)
Home value ($)
LTV (Loan-to-Value): 50.0%
Current interest rate (%)
Initial loan term (years)
Years remaining
Credit score
Refi costs (% of balance)
Closing Costs
$7,500.00
Your Refinance Options
Compare monthly payments, total savings, and break-even timelines
Current Loan
24y remaining
$2,387.62/mo
Total remaining: $687,633.69
COSTS
Refi to 30 yr
Rate: 7.02% • 30y term
$39,729.62
Total Incremental Costs
MONTHLY P&I
$1,999.62/mo
↓ Save $388.00/mo
BREAK-EVEN
1.67 yr
20 months
SAVES
Refi to 15 yr
Rate: 6.06% • 15y term
$222,744.86
Total Savings
MONTHLY P&I
$2,541.05/mo
↑ Pay $153.43/mo
BREAK-EVEN
10+ yr
SAVES
Refi to remaining term
Rate: 6.73% • 24y term
$74,384.43
Total Savings
MONTHLY P&I
$2,103.30/mo
↓ Save $284.32/mo
BREAK-EVEN
2.25 yr
27 months
Notes: Principal and interest only. Chart shows cumulative paid + closing costs.
Rate data sourced from Freddie Mac Primary Mortgage Market Survey®. Rates are national averages and actual rates may vary by lender, location, and individual borrower circumstances.
Cumulative Cost Comparison
Chart Lines:
Current
30yr refi
15yr refi
Same-term
Show on chart: