Should I Refinance?

1 Current Loan Information

Current Loan Balance ($)

Current Interest Rate (%)

Remaining Term (months)

Property Value ($)

Mo. Escrow — T&I ($) Same for all scenarios. Does not affect breakeven.

Current Loan Type

Override: Enter current P&I payment manually

Current LTV: 0%

Monthly MI:

Computed Current Monthly Payment: $0.00

2 Refinance Offer — Loan Terms

New Loan Amount ($)

New Interest Rate (%)

New Loan Term (months)

Loan Type

LTV: 0%

Monthly MI:

Upfront MI/FF:

New Monthly Payment: $0.00

⚙ Cash Out — Debt Consolidation Optional

Include Cash Out / Debt Payoff in Analysis

3 Closing Costs — Itemized Fee Worksheet

Enter closing costs matching the Itemized Fee Worksheet. Prepaids and Escrow are excluded from the breakeven calculation.

Origination Charges

Origination Fee / Points ($)

Underwriting / Processing Fee ($)

Discount Points ($)

Lender Credit ($) (enter as negative)

Origination Charges Total: $0.00

Services Borrower Cannot Shop

Appraisal Fee ($)

Credit Report Fee ($)

Flood Certification ($)

MERS Registration Fee ($)

Tax Related Service Fee ($)

Technology Fee ($)

Verification of Employment Fee ($)

Verification of Tax Return Fee ($)

Cannot Shop Total: $0.00

Services Borrower Can Shop For

E-Recording Fee ($)

Title - Closing Protection Letter Fee ($)

Title - Lenders Coverage Premium ($)

Title - Settlement Fee ($)

Title - Tax Cert Fee ($)

Can Shop Total: $0.00

Taxes and Other Government Fees

Recording Fee for Deed ($)

Government Fees Total: $0.00

Other Costs

Other Fees ($)

Total Closing Costs (for Breakeven): $0.00

= Origination + Cannot Shop + Can Shop + Government Fees + Upfront MI + Other | Excludes Prepaids & Escrow

4 Cost of Waiting — Future Rate Scenario Optional

Include Cost of Waiting Analysis

If you wait for rates to drop, what rate do you expect, and how long until you can close? The calculator adds the extra interest paid during the waiting period to the total cost.

Expected Future Rate (%)

Months Until Future Rate Available

Expected Monthly MI

Monthly mortgage insurance on the future loan (enter 0 if none)

Future Monthly Payment (at future rate): $0.00

5 Advice Settings

Configure the breakeven threshold for your recommendation guidance.

Target Breakeven Threshold (months) Refinancing is favorable if breakeven is at or below this number of months

How Long Borrower Plans to Stay (months) Used to calculate total savings over the remaining time in the home

Refinance Now — Breakeven Analysis

Monthly P&I Savings

$0.00

Breakeven Point0 months

Total Closing Costs

$0.00

Net Savings (Stay Period)

$0.00

Current Payment

$0.00

New Payment

$0.00

Cost of Waiting Analysis

Extra Interest Paid While Waiting

$0.00

Future Monthly Payment

$0.00

Future Monthly Savings vs Current

$0.00

Breakeven If You Wait0 months

Refinance Now

Closing Costs $0.00

Monthly Savings $0.00

Breakeven 0 mo

Total Net Savings $0.00

Wait & Refinance Later

Closing Costs $0.00

Extra Interest While Waiting $0.00

Effective Total Cost $0.00

Future Monthly Savings $0.00

Adjusted Breakeven 0 mo

Total Net Savings $0.00

Refinance Now vs. Wait — Net Savings Difference

$0.00

Refi Now, Then Refi Again — Double Refinance Strategy

What if you refinance now to start saving immediately, then refinance again when rates drop to %? You pay closing costs twice, but you never miss a month of savings. Assumes same closing costs for the second refinance.

Phase 1 Savings (Refi Now)

$0.00

Phase 2 Payment (2nd Refi)

$0.00

Total Closing Costs (2x)

$0.00

Combined Breakeven0 months

Refi Now Only

Closing Costs $0.00

Monthly Savings $0.00

Net Savings $0.00

⬆ Refi Now + Refi Again

Total Costs (2x closing) $0.00

Phase 1 Savings $0.00

Phase 2 Savings $0.00

Net Savings $0.00

Wait & Refi Once

Effective Cost $0.00

Monthly Savings $0.00

Net Savings $0.00

Best Strategy

Refinance Recommendation

Calculating...

Breakeven Timeline Chart

How to read this chart: The X-axis shows months. The blue line shows cumulative savings from refinancing now. The orange line shows cumulative savings if you wait. The point where each line crosses zero is the breakeven point.

Monthly Payment Comparison

Side-by-side comparison of your current payment, the refinance now payment, and the future rate payment.

Closing Cost Breakdown

Visual breakdown of where your closing costs are allocated. Prepaids and Escrow are shown separately since they are excluded from the breakeven calculation.

Amortization Comparison (First 5 Years)

Interest vs. Principal paid over the first 60 months for each scenario. Lower interest = more equity building.

1 Current Loan Information

2 Refinance Offer — Loan Terms

⚙ Cash Out — Debt Consolidation Optional

Debt Payoff Detail (optional breakdown)

3 Closing Costs — Itemized Fee Worksheet

Origination Charges

Services Borrower Cannot Shop

Services Borrower Can Shop For

Taxes and Other Government Fees

Prepaids

Initial Escrow Payment at Closing

Other Costs

4 Cost of Waiting — Future Rate Scenario Optional

5 Advice Settings

Refinance Now — Breakeven Analysis

Monthly P&I Savings

Breakeven Point

Total Closing Costs

Net Savings (Stay Period)

Current Payment

New Payment

Cost of Waiting Analysis

Extra Interest Paid While Waiting

Future Monthly Payment

Future Monthly Savings vs Current

Breakeven If You Wait

Refinance Now

Wait & Refinance Later

Refinance Now vs. Wait — Net Savings Difference

Refi Now, Then Refi Again — Double Refinance Strategy

Phase 1 Savings (Refi Now)

Phase 2 Payment (2nd Refi)

Total Closing Costs (2x)

Combined Breakeven

Refi Now Only

⬆ Refi Now + Refi Again

Wait & Refi Once

Best Strategy

Refinance Recommendation

Breakeven Timeline Chart

Monthly Payment Comparison

Closing Cost Breakdown

Amortization Comparison (First 5 Years)

Calculation Details

Closing Cost Summary