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Refinance calculator
Compare your current mortgage payment with a new rate and term, and see when closing costs pay off.
Monthly savingExample
$79
Closing costs are paid back after about 6 years 4 months.
- Payment now (principal and interest)
- $2,018
- New payment
- $1,939
- Interest left on current loan
- $373,850
- New loan interest plus costs
- $423,919
A longer term lowers the payment but restarts the clock, so you may pay more interest overall even at a lower rate.
- Starts at the latest national average 30-year rate from Freddie Mac Primary Mortgage Market Survey, week of 2026-10-08. Your rate will differ.
- Compares principal and interest only. Taxes and insurance usually stay the same.
- Break-even is closing costs divided by the monthly saving.
- Estimates only, for planning. This isn't an offer of credit or advice about your situation.
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