Refinance Comparison Calculator

This calculator demonstrates the potential value of doing a refinance, including the total monthly savings on your mortgage payment and the total months before you’ve recouped your closing costs, commonly referred to as your breakeven point.

Tips for Better Use:

To find your current mortgage payment, escrows, and mortgage insurance, please refer to your most recent mortgage statement.
To calculate the breakeven point more accurately, we recommend removing the cost of escrows and prepaid interest from your closing cost approximation. We say this because escrows for taxes, insurance, and daily interest are paid by borrowers whether or not they refinance.
Please reach out to a Park 65 Lending loan officer to get a competitive interest rate and accurate set of closing costs.

Current Mortgage Info

Mortgage Payment ($):

Taxes + Home Insurance ($):

Mortgage Insurance ($):

Refinanced Mortgage Inputs

Loan Amount ($):

Interest Rate (%):

Mortgage Term (Years):

Taxes and Home Insurance ($):

PMI ($):

Closing Costs ($):

Disclaimers:

These calculations are educational in nature and for estimation purposes only. Payments and assumptions are based on user inputs. Calculations do not include property taxes, homeowners insurance, HOA dues, or mortgage insurance. This does not constitute an offer or approval of credit. Contact a Park 65 Lending loan officer to learn more.