Refinance Calculator USA 2026
Compare your current mortgage against a 2026 refinance in the USA. See monthly savings, lifetime interest saved and how many months to break even on closing costs.
Project details
All prices in USD $ · 2026 USA averages.
Estimated cost
Estimated monthly savings
$336
Range: $286 – $370
Refinance $320,000 from 7.5% → 6.25%
Cost breakdown
| Current monthly P&I | $2,306.35 |
| New monthly P&I | $1,970.30 |
| Monthly savings | $336.05 |
| Break-even period | 17.9 months |
| Lifetime interest saved (net of closing) | $31,951 |
Get 3 Mortgage Quotes
Compare 3 vetted USA lenders. Free, no obligation, no impact on credit.
Disclaimer: Rates as of 2026. Estimates use 2026 USA average mortgage rates, state property tax and insurance data. Actual rates, fees and payments depend on lender, credit score, loan program and property. Consult a licensed loan officer before locking a rate.
Frequently asked questions
When is refinancing worth it?
A common rule: refinance when the new rate is 0.75–1.0% lower than your current rate and you'll keep the home past the break-even point.
How much are refinance closing costs?
USA 2026 average: 2–5% of the loan amount, or $4,000–$12,000 on a $300K refinance.
Should I refinance to a shorter term?
Yes if you can afford the higher payment — you'll save tens of thousands in interest and build equity faster.