Should you refinance?
Enter your current loan and a new rate to see your exact break-even timeline.
Your Current Loan
Current P&I payment$2,253/mo
New Loan Terms
New Monthly P&I
$1,970/mo
Current payment$2,253
New payment$1,970
Monthly
-$283
saved /mo
Break-even
27 mo
2.3 years
Interest
-$20,802
lifetime
Loan Comparison
Current
New
Rate
7.25%
6.25%
Term left
27yr
30yr
Loan amt
$320,000
$320,000
P&I /mo
$2,253
$1,970
Total interest
$410,108
$389,306
Refinancing looks smart. You break even in 27 months and save $20,802 in lifetime interest if you stay.
New payment options for your refi
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