Refinance savings with a break-even habit
A refinance calculator exists to answer two questions: how much might my monthly payment drop, and how long until fees are earned back? Shiny rate ads skip the second question. Enter your current balance and payment assumptions, then a new rate, term, and estimated closing costs to see monthly savings and a simple break-even horizon.
Term resets can fool you
Restarting a 30-year clock can lower the payment while increasing lifetime interest. Compare total interest, not only the monthly number. UK product transfers and US refinances have different fee cultures—always use lender illustrations for a decision.
Related checks
Run an overpayment scenario on the current loan as an alternative to refinancing. Sometimes staying and overpaying beats paying a new round of fees. Estimates here are educational, private in-browser math—not a loan offer.