Should I refinance?
Compare your current loan to a new one. See what you save monthly, when you break even on closing costs, and the total impact over the life of the loan.
Current loan
$
%
New loan
%
$
Rolled into the new loan in this estimate
Estimated monthly savings
$453
Current P&I
$2,475
New P&I
$2,021
Break-even
14 mo
If you stay in the home longer than 14 months, you come out ahead. Total savings over the new term: $64,216.