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Refinance payment and cost comparison

Compare your current mortgage to a new rate. Compare monthly payments, lifetime interest and remaining balances. A lower payment may come from extending the term rather than reducing total cost.

Your current loan

Use the interest rate on your existing mortgage statement, not APR.

New loan

A rate to compare for a replacement loan. This estimate is not a quote.
Old payment
$2,899
P&I only
New payment
$2,617
P&I only
Monthly savings
$282
9.7% lower
Payment-savings payback
23 mo
≈ 1.9 years
Calculating comparison…
Review payment, interest and remaining balance together.
Lifetime interest saved$48,920
Monthly payment difference$282
New payment at current remaining term
Current balance at holding period
New balance at holding period
Payments plus remaining balance: new minus current

Payback is closing costs divided by monthly payment savings, not an economic break-even promise. Holding-period comparison includes P&I paid plus remaining debt and financed costs; excludes taxes, insurance, opportunity cost, tax effects and future refinancing.

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Estimates only. Personal results depend on your file, lender pricing, and current rates. Not a commitment to lend.