Refinance Calculator

See your true refinance savings

Compares principal & interest only. Property taxes, homeowners insurance, and PMI are typically similar before and after a refinance and don’t affect break-even — leave them out of your savings math too.
Current loan
$
%
New loan
TERM
%
$
$
$
New loan principal: $340,000 · $6,500 due at closing

Monthly payment savings

$413

$2,424 → $2,011 · breaks even in 1yr 4mo

Lifetime interest (current)
$416,396
Lifetime interest (refi)
$384,042
After-tax current· saved $3,710 in tax
$412,686
After-tax refi· saved $0 in tax
$384,042

New monthly P&I

$2,011

was $2,424

Monthly savings

$413

lower payment

Break-even (nominal)

1yr 4mo

$6,500 upfront

Break-even (NPV)

1yr 9mo

at 7% discount

After-tax saved

$28,644

lifetime

NPV of refi

$35,994

after-tax, discounted

Nominal payment savings After-tax savings NPV (discounted)
$-6,161$19,549$45,260$70,971$96,682$122,393Mo 0Mo 60Mo 120Mo 180Mo 240Mo 300Mo 360

Cumulative savings net of $6,500 closing costs paid upfront. A line crossing zero is when that line breaks even. NPV discounts future savings at 7% — it’s the most honest comparison if you could otherwise invest the money.