Refinance calculator
What refinancing does
$43.98 less per month
You recover the closing costs after 137 months (11.4 years). If you will move or refinance again before then, this loan costs you money.
| Keep current loan | Refinance | |
|---|---|---|
| Monthly payment | $2,088.47 | $2,044.49 |
| Total paid from today, with closing costs | $701,726 | $742,018 |
Over the full terms, refinancing costs about $40,292 more.
The new loan runs longer than the time left on your current one. A lower payment spread over more years can cost more overall even at a lower rate.