Is refinancing worth it?
Compare your current payment to a new rate and term, see the monthly savings, and find the month the closing costs pay for themselves. No sign-up; the math runs in your browser.
You save $453/mo. Keep the loan past breakeven and the refinance is money ahead; sell or refinance again before then and the closing costs aren't recovered.
Lifetime compares all remaining payments on your current loan to the new loan over its full term — a longer term can lower the payment yet cost more overall.
Estimate for illustration only — not a loan offer. P&I only; taxes and insurance are unchanged by a refi. Runs entirely in your browser; nothing you type is uploaded.
Savings vs. the cost to get them
Re-price the loan
Your current balance at a new rate and term gives a new monthly payment.
Find the monthly savings
Subtract the new payment from your current one — that's what refinancing puts back in your pocket each month.
Recover the closing costs
Divide closing costs by the monthly savings to get the breakeven month. Past it, the refinance is pure gain.
▸What is the breakeven point?
It's how long you need to keep the new loan before the monthly savings add up to the closing costs you paid to get it. Stay past breakeven and you're ahead; leave sooner — by selling or refinancing again — and you didn't recover the cost.
▸Why can a lower payment still cost more?
Refinancing into a fresh 30-year term can drop the payment while stretching the loan out, so you pay interest for longer. The 'lifetime cost difference' compares the full remaining cost of each loan so you see the whole picture, not just the monthly.
▸Should I roll closing costs into the loan?
Rolling them in avoids cash out of pocket, so there's nothing to 'break even' on — but you finance those costs and pay interest on them. Toggle it to compare both ways.
Ready to lock a lower rate?
Emberline helps loan officers turn refinance interest into a tracked pipeline — with saved scenarios, reminders, and one-tap follow-up.