Mortgage Refinance Calculator
Refinance Analysis
Monthly Payment Savings
$322
Break-Even Point
15.5 months
Total Interest Savings
$-10,526
Recommendation
Not Recommended
High break-even period (15.5 months) or minimal savings.
Loan Comparison
| Metric | Current | New |
|---|---|---|
| Interest Rate | 6.50% | 5.50% |
| Monthly Payment | $2,026 | $1,703 |
| Total Interest | $307,686 | $313,212 |
| Total Cost | $607,686 | $618,212 |