Find out if refinancing is right for you in a few simple steps.
Input your remaining loan balance, current interest rate, and number of years left on your loan.
Provide the new interest rate and loan term offered by your new lender.
Enter the estimated closing costs for the refinance (typically 2–5% of the loan amount).
Check your new monthly payment, monthly savings, break-even period, and estimated lifetime savings.
The break-even point is the number of months it takes for your monthly savings to cover the closing costs of refinancing. If you plan to stay in your home longer than this period, refinancing is generally worthwhile.
Refinancing typically makes sense when you can secure a lower interest rate, reduce your monthly payment, and plan to keep the loan long enough to surpass the break-even point.
Closing costs include lender fees, appraisal fees, title insurance, and other expenses associated with getting a new loan. They typically range from 2% to 5% of the loan amount.
Lifetime savings are calculated by subtracting the total cost of the new loan (all new payments plus closing costs) from the total cost of continuing with the current loan over its remaining term.
Not always. If the new rate is higher, or if you do not stay long enough to recover the closing costs, refinancing may cost more. Always compare total costs over your expected time horizon.
Determine si refinanciar su préstamo tiene sentido financiero calculando su punto de equilibrio y los ahorros totales.
La calculadora de refinanciamiento le ayuda a decidir si refinanciar su hipoteca o préstamo vale la pena. Ingrese su saldo actual, tasas de interés, plazos y costos de cierre para ver su nuevo pago mensual, el período de recuperación y los ahorros a lo largo de la vida del préstamo.
Descubra si el refinanciamiento es adecuado para usted en unos sencillos pasos.