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Refinance Savings Calculator
Compare your current mortgage to today’s rates to see how quickly a refinance pays for itself.
Current Loan Snapshot
Plug in the balance, remaining term, and current payment to benchmark today’s costs.
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Include taxes and insurance if they’re escrowed.
Proposed Loan
Adjust the rate and term you’re considering along with estimated closing costs.
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Add lender fees, title, appraisal, etc.
Refinance Insights
- You’ll recover $4,500.00 of closing costs in about 17 months with the new payment.
- Lifetime interest with your current loan is roughly $360,993.93 vs. $357,229.81 with the new loan.
- Over the first five years you’ll pocket roughly $15,978.36 in savings.
New Monthly Payment
$1,893.69
Saves $266.31 every month compared to your current payment.
Savings Overview
Monthly Savings
$266.31
Cash flow boost
Interest Saved
$3,764.12
Over the life of the loan
Break-Even
17 months
Closing costs / savings
New APR
5.75%
Requested rate
Refinancing looks attractive
With a break-even under three years and lifetime interest savings on the table, it’s worth requesting a quote.
Get a custom refinance quote
Share these numbers with our loan team to verify rate options, confirm closing costs, and schedule your closing date.