Compare current mortgage vs. a new loan to see monthly savings and break-even timeline.
Monthly Savings
$361.86
Break-Even Timeline (Months)
13 months
New Monthly Payment
$1,750.72
Current Monthly Payment
$2,112.58
Net Lifetime Savings
$49,717.88
Compares monthly payments and total remaining interest of your current mortgage against a new loan proposal, factoring in upfront closing costs.
1. Enter current loan balance, current rate, and remaining months. 2. Enter proposed new interest rate, new term, and closing costs. 3. Review your monthly savings and break-even point in months.
Break-Even Months shows how long it takes for monthly payment savings to offset upfront closing costs. Lifetime Savings shows total net benefit.
FAQ
A break-even point under 24 to 36 months is generally considered strong if you plan to stay in the home longer than that timeframe.
Rolling closing costs into the loan reduces upfront out-of-pocket costs, but slightly increases your monthly payment and total interest.
Categories · Loans & Debt