Compare your current mortgage with refinancing options to see if it makes financial sense. Currently calculating in US Dollar.
You could save $83,787 over the life of the loan.
New Monthly Payment
$1,804
-$296/mo
Lifetime Savings
$83,787
savings
Break-Even Point
1.4 years
to recoup closing costs
| Metric | Current | Refinanced | Difference |
|---|---|---|---|
| Monthly Payment | $2,100 | $1,804 | -$296 |
| Loan Term | 25 years | 25 years | 0 years |
| Interest Rate | 7.5% | 6% | -1.50% |
| Total Remaining Cost | $630,000 | $546,213 | -$83,787 |
| Closing Costs | - | $5,000 | - |