Refinancing is worth modeling before you commit: what the new loan costs, whether you bring cash or take cash out, and how long it takes your monthly savings to cover the closing costs. This calculator answers all three with an itemized breakdown.
All results are preliminary estimates, not quotes. Confirm closing costs, payoffs, and prepaids with your lender and title company before you sign.
Points, origination, title insurance, escrow, recording, and third-party fees. Some items are rolled into the loan, others are paid at closing.
The difference between your new loan, your existing payoff, and your costs. A positive number is cash you receive; a negative number is cash you bring.
Closing costs divided by monthly payment savings. If there is no payment savings, there is no savings-based break-even.
Refinance closing costs include lender origination charges, discount points, lender title insurance, escrow and settlement fees, recording charges, and lender-required third-party fees, plus prepaid interest and escrow account funding. Many of these items are fixed-dollar charges that depend on your lender and your title company, which is why this calculator lets you enter each one and flags unentered items as Quote Required.
Yes. In a cash-out refinance, the new loan pays off your existing loan plus the closing costs, and any remaining funds are paid to you as cash. If you enter a target cash-out amount here, the calculator shows the loan amount required to achieve it.
Divide the total closing costs by your monthly payment savings. If your new payment is $150 lower and your costs are $4,500, you break even in 30 months. If your payment does not drop, there is no savings-driven break-even, and you would rely on other benefits such as a lower rate later or cash out.
Yes. Your lender requires a new lender title insurance policy reflecting the new loan, even if you recently bought the property. The premium depends on the loan amount and, in Texas, the TDI rate schedule.
Yes. The fee framework on this page supports Arizona, Texas, and other states. Title, escrow, and recording charges start as Quote Required, and you can enter a verified amount from 1st Option Title when you have one. Texas borrowers can also use the Texas Title Premium Calculator for a TDI-based title premium estimate.