Ready to see how much you could save by refinancing your mortgage? Get an estimate of your overall savings and new monthly payment using today’s numbers and compare with your current home loan to see if refinancing makes the most sense for you at this time.
You should consider refinancing.
Both your monthly payment and total interest costs are lower. You could save $35,676 in interest over the life of the loan.
After 6 months, you will recover your closing costs.
These calculations are tools for learning more about the mortgage process and are for educational/estimation purposes only. Calculator results are rounded down to the nearest dollar. Payment shown does not include taxes, insurance, or mortgage insurance (if applicable). This does not constitute an offer or approval of credit. Contact a PrimeLending home loan officer for actual estimates.
*For example, a Conventional fixed rate loan with a loan term of 360 months, loan amount of $400,000, down payment of 20%, and a 7.25% interest rate at cost of .297 points ($1,188) paid at closing by borrower will result in an annual percentage rate of 7.347% and a monthly payment of $2,728.71. Loan scenario assumes a credit score of 740+. Rates pulled 5/23/25, rates subject to change. Loans are subject to borrower qualifications, including income, property evaluation, and final credit approval. Payment shown is principal and interest only, and does not include amounts for taxes and insurance premiums (if applicable). The actual payment obligation will be greater.
Here is a breakdown of your refinance estimate based on the numbers you provided. Want to see more options? Just enter new numbers to calculate and compare.
