Calculators
Refinance break-even calculator
Compare your current loan with a new one: new payment, monthly savings, interest saved, and the month your closing costs are paid back.
Break-even estimate
Enter your current loan and a new rate to compare.
—
to break even
- Current principal & interest—
- New principal & interest—
- Monthly savings—
- Interest over the rest of your current loan—
- Interest over the new loan—
- Interest difference—
This calculator provides estimates for illustration only. It is not an offer, a commitment to lend, or a loan disclosure. Contact a LoanZilla loan officer for figures based on your situation.
Is refinancing worth it?
Refinancing has closing costs, so the real question is how long it takes your monthly savings to cover them — your break-even point. If you plan to stay in the home well past that point, a refinance often makes sense.
Starting a new, longer term can lower your payment while increasing the total interest you pay; a shorter term often does the opposite. We'll show you both sides before you decide. More about refinancing.