How accurate is the refinance calculator?

Our refinance calculator provides accurate estimates based on the information you provide. Actual rates and savings may vary based on your credit profile, property value, and lender requirements.

What is a break-even point?

The break-even point is when your cumulative monthly savings equal your closing costs. After this point, you begin realizing net savings from the refinance.

Should I refinance if rates dropped 0.5%?

Generally, refinancing makes sense if you can reduce your rate by at least 0.5-0.75% and plan to stay in the home beyond the break-even point. Use our calculator to see your specific savings.

When does refinancing make sense?

Refinancing typically makes sense when you can lower your rate by at least 0.5-1%, plan to stay in the home long enough to recoup closing costs, or need to access equity for other purposes.

What is the break-even point on a refinance?

The break-even point is when your monthly savings equal your closing costs. For example, if closing costs are $6,000 and you save $200/month, break-even is 30 months.

Should I refinance to a shorter term?

Refinancing to a shorter term (like 30 to 15 years) increases payments but saves significant interest. It's ideal if you can afford higher payments and want to build equity faster.

What are typical refinance closing costs?

Refinance closing costs typically range from 2-5% of the loan amount, including appraisal, title insurance, origination fees, and other charges. Some lenders offer no-closing-cost options with higher rates.

Can I refinance with a NON-QM loan?

Yes, NON-QM refinancing is available for borrowers who don't qualify for conventional refinancing. You can use bank statements, DSCR, or asset depletion to qualify, even without traditional income documentation.

Mortgage Refinance Calculator

Compare your current mortgage to a new loan and see if refinancing makes sense

Current Mortgage

Your existing loan details

Current Loan Balance

Current Interest Rate (%)

Original Loan Term (years)

Years Remaining

New Loan

Refinance loan details

New Interest Rate (%)

New Loan Term (years)

Closing Costs

Typically 2-5% of loan amount

Cash-Out Amount (optional)

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