Finance

Mortgage Refinance Calculator

Refinance break-even.

Loan balance ($)

Old rate (%)

New rate (%)

Remaining years (years)

Closing cost ($)

Calculated Output

Monthly savings ($) 124.96

Break-even months (months) 33

Step-by-Step Breakdown

1. Values used:

2. Loan balance = 200,000 $

3. Old rate = 7 %

4. New rate = 6 %

5. Remaining years = 25 years

6. Closing cost = 4,000 $

7. Monthly savings = 124.96$

8. Break-even months = 33months

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Frequently Asked Questions

When to refi?

When savings × time > costs; rule of thumb: rate drop ≥1%.