Refinance
Current vs new
Compare the loan you have with a quote you type in. No lender logos. No application.
Monthly P&I savings
$343.41
New payment is lower
Break-even
1 yr 2 mo
$4,500 cash to recoup
Lifetime interest change
+$75,582
Negative means you pay less interest overall
| | Current | New |
|---|
| Loan amount | $285,000 | $285,000 |
| Rate | 6.750% | 6.125% |
| Monthly P&I | $2,075.10 | $1,731.69 |
| Payoff date | Jul 20, 2048 | Aug 20, 2056 |
| Remaining interest | $262,826 | $338,409 |
| Cash to close | — | $4,500 |
- Home price
- $450,000
- Down payment
- $90,000 (20.0%)
- Loan amount
- $360,000
- Rate
- 6.500%
- Term
- 30 years
- Monthly PITI
- $2,837.94
- Principal & interest
- $2,275.44
- Taxes / mo
- $412.50
- Insurance / mo
- $150.00
- HOA / mo
- $0.00
- Initial PMI / mo
- $0.00
- Total interest
- $459,164
- Payoff
- Aug 20, 2056
Estimates only. Not a loan offer, commitment to lend, or financial advice. Rates are user-entered. Rate Advantage does not publish market rates.