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Refinance Calculator — From 7% to 6% Rate
Monthly savings and break-even when refinancing from 7% to 6% on a $300K balance.
Current Monthly Payment
$2,120.34
New Monthly Payment
$1,798.65
Monthly Savings
$321.69
Break-Even Point
19 months
Total Interest Saved
$-11,413.29
Typical closing costs: 2–5% of loan amount. Break-even = closing costs ÷ monthly savings.
Typical closing costs: 2–5% of loan amount. Break-even = closing costs ÷ monthly savings.