Refinance Savings and Break-even

 

This calculator will help you to decide whether or not you should refinance your current mortgage at a lower interest rate. Not only will this calculator calculate the monthly payment and net interest savings, but it will also calculate how many months it will take to break even on the closing costs.


 

(Typically, # of points is "2" or dollar amount is .02 times the principal)

This calculator and others on this site are provided without warranty regarding their accuracy or applicability to your individual circumstance. They are for your personal use and are not intended to replace professional financial advice.