Refinance break-even calculator When does it pay off?

Initial illustrative inputs only. The disclosures below do not update when you edit the calculator and are not quotes, approvals, or a promise of savings. Rates change daily. Everything stays in your browser; we don't see or store it.

Example assumptions (Initial refinance inputs): no mortgage insurance; refinance equity not modeled.

Existing/no-points: 12.277% interest rate · 12.277% APR · 30-year fixed · $0 new down payment · 360 monthly P&I payments of $4,200.00; $400,000.00 loan; $0.00 cash-paid prepaid finance charges.

Replacement/with-costs: 11.299% interest rate · 11.511% APR · 30-year fixed · $0 new down payment · 360 monthly P&I payments of $3,900.00; $400,000.00 loan; $6,500.00 cash-paid prepaid finance charges.

All closing costs are cash-paid prepaid finance charges, no points. Current remaining term is assumed 30 years to complete the blank field; comparison APR is not the original disclosed APR. Existing APR assumes no unamortized charges, not its original disclosed APR; no other loan fees. Simple savings exclude balance differences. Amounts are approximate; single advance, first monthly payment one month later, no balloon. Taxes, property insurance and HOA are excluded; actual housing payment will be higher. Not a quote or approval; rates change daily and actual terms differ.