Refinance Calculator
Compare your current mortgage vs refinancing. See net savings after penalty, break-even timeline, and cash-out refinance options.
Refinance Calculator
Compare your current mortgage vs refinancing to find your net savings.
Current Mortgage
$
New Mortgage
$
Net Savings After Penalty
+ $43,174
You would save money by refinancing.
Comparison
Current Mortgage
Monthly Payment
$2,729
Total Interest (Remaining Term)
$300,397
Remaining Cost (Principal + Interest)
$720,397
After Refinancing
New Monthly Payment
$2,207
Total Interest (New Amortization)
$242,103
Total Cost + Penalty
$677,223
Monthly Impact
Monthly Savings+ $522
Penalty & Break-Even Analysis
Prepayment Penalty$15,120
(3-Month Interest: $5,765 | IRD: $15,120)
Break-Even Timeline29 months
Recommendation
Refinancing looks favorable. You'd save $43,174 after the penalty, with a break-even point of 29 months.