Refinancing makes sense when you can lower your rate enough to recover closing costs (typically 2–5% of loan) within your planned stay. This calculator shows your exact break-even timeline.
Pre-filled with typical values for this scenario. Adjust any field to see updated results.
| Parameter | Default Value | Notes |
|---|---|---|
| New Rate | 6.5 | Refinanced interest rate |
| Loan Term | 30 | Years to repay |
| Current Rate | 7.25 | Your existing interest rate |
| Closing Costs | 6000 | Estimated refinance closing costs |
| Current Balance | 280000 | Remaining loan balance |
| monthly savings | 0 |
ℹ️ Free Tool This calculator is provided for educational purposes. Consult a financial advisor before making major financial decisions.
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