About Refinance Calculator
Calculate potential savings from refinancing your mortgage. Compare your current loan with a new loan to determine if refinancing makes financial sense.
Refinancing Tips
- Rate Reduction: Aim for at least 0.5% lower rate
- Break-even Point: Time to recoup closing costs
- Closing Costs: Typically 2-5% of loan amount
- Credit Score: Higher scores get better rates
- Loan-to-Value: Lower LTV ratios get better terms
- Market Timing: Refinance when rates are low