Compare your current loan to a new rate, see the monthly savings and how long until refinancing pays for itself.
Your loan
$
%
New loan
%
$
Your refinance
Monthly savings
$0
Compares the two loans' payments; because the terms can differ, also weigh total interest over each loan's life. Break-even = closing costs ÷ monthly savings. Excludes PMI and escrow changes. Illustrative only.