Mortgage Refinance Calculator
Calculate your potential savings when refinancing your mortgage. Compare current vs. new rates, monthly payments, and total interest costs.
Step 1: Current Mortgage Details
Current Monthly Payment
Your current monthly payment: $1,389.35
Step 2: New Mortgage Details
Current Mortgage Rates
30-year fixed: 3.5% – 4.0%
15-year fixed: 2.75% – 3.25%
FHA loans: 3.0% – 3.5%
VA loans: 2.75% – 3.25%
Refinance Savings Analysis
Monthly Payment Savings
Payment Comparison
| Type | Monthly Payment | Total Interest | Total Paid |
|---|
Refinance Cost Breakdown
When Does Refinancing Make Sense?
Refinancing typically makes sense when:
• You can lower your interest rate by 0.5% or more
• You plan to stay in your home beyond the break-even point
• You want to switch from an adjustable to fixed-rate mortgage
• You need to access home equity for major expenses
Refinancing Costs
| Cost Type | Typical Range | Average |
|---|---|---|
| Application Fee | $300 – $500 | $400 |
| Appraisal Fee | $300 – $700 | $500 |
| Title Search & Insurance | $700 – $900 | $800 |
| Origination Fee | 0.5% – 1% of loan | 0.75% |
| Attorney Fees | $500 – $1,000 | $750 |
| Total Closing Costs | $2,000 – $6,000 | $3,500 |
Need Professional Mortgage Advice?
Connect with our mortgage experts for personalized refinance analysis, rate comparisons, and guidance on the best options for your financial situation.
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