Refinance Savings Calculator
Monthly savings are easy to quote; lifetime savings are where a lower rate can still lose. This example refinances $250,000 at 6.5% with 22 years left into 5.75% over 30 years. The lifetime interest line shows whether total interest falls or rises even when the payment drops.
The same remaining term payment appears in every result so you can compare apples to apples before extending the loan. Break-even uses cumulative monthly savings against $4,000 closing costs.
Controls below adjust balance, rates, remaining years, new term, and closing-cost treatment. Download PDF for a printable summary plus savings table. Not financial advice.
Your loan numbers stay in your browser. We never see them, and nothing is saved.
Current monthly payment: $1,782.35
New monthly payment (30 yr): $1,458.93
Monthly difference: $323.42
Same remaining term at new rate: $1,670.95 per month
Break-even: Month 13
Remaining interest on current loan: $220,539.08
Total interest on new loan: $275,216.76
Lifetime interest difference: $-54,677.68
Closing costs ($4,000.00) paid up front; new loan balance $250,000.00.
This is an estimate for planning, not financial advice.
Cumulative savings through break-even
| Month | Monthly savings | Cumulative savings |
|---|---|---|
| 1 | $323.42 | $323.42 |
| 2 | $323.42 | $646.84 |
| 3 | $323.42 | $970.26 |
| 4 | $323.42 | $1,293.68 |
| 5 | $323.42 | $1,617.10 |
| 6 | $323.42 | $1,940.52 |
| 7 | $323.42 | $2,263.94 |
| 8 | $323.42 | $2,587.36 |
| 9 | $323.42 | $2,910.78 |
| 10 | $323.42 | $3,234.20 |
| 11 | $323.42 | $3,557.62 |
| 12 | $323.42 | $3,881.04 |
Showing first 12 of 13 months. Download PDF or CSV for the full table.
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