Compare your current loan with a refinance offer: monthly savings, total interest and break-even months from closing costs. Private, offline estimate.
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Quick answer: Refinance Calculator — Break-even refi Free, no signup, runs in your browser. See below for the interactive tool, 4-step guide and FAQs.
Current EMI
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New EMI
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Current total interest
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New total interest
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Break-even (months)
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Break-even equals closing costs divided by monthly savings, showing months until refinancing pays off. For example, a $200,000 balance moving from 7% to 5.5% with 25 years left saves about $180 monthly, so $4,000 costs break even near 22 months and later savings are net gain. Stay past break-even and see /terms.
No. This refinance comparison is for informational loan planning only, never financial advice. Appraisal fees, title charges, rate-lock expirations, ARM resets, and tax effects are excluded from the $180 savings illustration. Consult your lender about true closing costs and see /terms before refinancing.
Yes. Refi balance math stays on your device only. Refi rate sums run in-tab with no upload and no login. For example, $200,000 stays local, works offline, and deletes on shut. It is planning estimates only, not advice. See /terms.
Because restarting 25 years left to fresh 30 years re-amortizes principal, so $200,000 at 5.5% for 30 years drops EMI $180 yet adds 60 payments totalling $32,000 extra interest versus keeping 25 years. Match remaining term or shorten. Model 25 versus 30 years here, inspect total cost. See /terms.
Cash-out suits $40,000 kitchen overhauls when first-lien rates fall 1.5 points, consolidating $200,000 and $40,000 at 5.5% near $1,360 monthly. HELOCs suit phased $10,000 repairs with variable draws near 8.5% and flexibility. Compare closing $4,000 versus $500 line fees. Funding comparison only, not borrowing counsel. See /terms.
Refinancing swaps an existing mortgage for a fresh loan with lower rate, altered tenure, or changed structure, fronting closing levies to harvest cheaper installments. A $200,000 balance falling from 7% to 5.5% with 25 years left saves about $180 monthly and $54,000 lifetime before $4,000 fees. Rate-drop payoff table informs timing: | Cut on $200k 25yr | Monthly save | Break-even $4k | 0.5% | $62 | 65mo | 1.0% | $124 | 32mo | 1.5% | $180 | 22mo |. Half-point cuts rarely justify fees unless staying decades. Our refinance calculator contrasts old versus new EMI, lifetime interest, and break-even privately offline. Edge case: prepayment penalties on subprime legacy loans can add $3,000 hidden cost. Limitation: excludes appraisal volatility, title search overruns, and lock-extension surcharges. Benchmark current installments via /mortgage-calculator. Strategic illustration only, not lending advice. See /terms.
Monthly saving equals legacy EMI minus refinanced EMI on identical remaining balance and horizon, while break-even equals closing costs divided by monthly saving. For example, $180 saving against $4,000 fees breaks even near 22 months; remaining 10 years then nets $21,600 minus $4,000 for $17,600 gain. Tenure-reset table cautions extension: | New term $200k 5.5% | EMI | Lifetime interest | 25yr | $1,200 | $160,000 | 20yr | $1,360 | $126,400 | 30yr | $1,135 | $208,600 |. Shorter terms amplify lifetime victory despite higher EMI. Edge case: adjustable hybrids with 5-year fixed teaser then SOFR and margin distort steady EMI comparison. Limitation: fixed-rate maths ignores rate-lock expiries, escrow reanalysis, and tax-deduction shifts. Weigh prepay alternative via /mortgage-overpayment-calculator. Formula walkthrough only, never personal refinance counsel. See /terms.
Enter $200,000 balance, 7% old, 5.5% new, 25 years left, $4,000 costs to see $180 monthly saving, 22-month break-even, and $17,600 ten-year net, then test 5% new to widen saving near $236 and break-even near 17 months. Offer comparison table sharpens negotiation: | New rate | Monthly save | Break-even $4k | 10yr net | 5.5% | $180 | 22mo | $17,600 | 5.25% | $208 | 19mo | $20,960 | 5.0% | $236 | 17mo | $24,320 |. Quarter-point bargaining adds thousands. Edge case: relocating in 18 months forfeits break-even, stranding fees unrecovered. Limitation: omits appraisal gaps, title cures, employment reverification, and ARM reset contingencies. Model affordability reset via /home-affordability-calculator. Informational loan comparison only, not professional mortgage guidance before locking rates cautiously. See /terms.