Find your “worth a look” rate.
Choose how quickly you want to recover refinance costs. Work backward to a target rate using the same remaining loan term.
Your starting point
Change any number to see your target update.
or lower, with these assumptions.
About $208 in monthly principal-and-interest savings would recover $5,000 over 24 months.
- Current estimated P&I
- $2,474/mo
- Target estimated P&I
- $2,265/mo
- Loan term held constant
- 25 years
Displayed target is rounded down to 0.01%. It is a planning threshold—not a prediction, available quote, or decision to refinance.
Saving is optional and local to this browser. No account or contact information required.
What would a rate change actually do?
Hypothetical rates. Same balance, remaining term, and upfront costs.
| Example new rate | Monthly P&I | Monthly savings | Payment break-even | Interest savings less costs at month 24 |
|---|---|---|---|---|
| 6.75% | $2,418 | $56 | 91 months | -$3,249 |
| 6.50% | $2,363 | $111 | 46 months | -$1,499 |
| 6.25% | $2,309 | $165 | 31 months | $250 |
| 6.00% | $2,255 | $219 | 23 months | $1,997 |
Why are there two savings measures?
Payment break-even compares cash paid each month. Interest savings less costs compares the actual financing expense over your selected period. Principal paydown can make these measures differ. Review both before deciding.
Turn a target into a better conversation.
Ask providers for matching loan terms, itemized costs, and a written Loan Estimate. Check the full refinance picture before acting.
Method, assumptions & sources
Fixed interest rates and monthly payments; closing costs paid out of pocket. The target holds the new term equal to the current remaining term. It solves for the rate at which monthly P&I savings equal closing costs divided by the selected months. Excludes taxes, insurance, mortgage insurance, prepayment penalties, opportunity cost, and tax effects. Actual available terms may differ. This tool does not monitor rates or send alerts.
Interest savings subtracts new-loan interest and closing costs from existing-loan interest over the selected months. It includes the effect of different principal paydown; it is not the same as cash-flow savings.
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