Should I Refinance My Mortgage Calculator 2025?
Free calculator + expert decision framework to determine if refinancing saves you money
💰 Should You Refinance? Find Out in 2 Minutes
Compare refinance rates from 300+ lenders and see if you can save $100s per month!
Check My Refinance Rate Now →✓ No credit impact ✓ 300+ lenders ✓ Free quotes ✓ 2-minute process
🧮 Free Refinance Calculator
Your Results:
Current Payment
$2728.71/mo
New Payment
$2515.13/mo
Monthly Savings
$213.57/mo
Break-Even Point
37.5 months
Get personalized refinance quotes from multiple lenders to see your exact savings!
📏 The 0.75% Rule
General rule: Refinancing makes sense when you can lower your rate by at least 0.75% (75 basis points).
Example: If your current rate is 7.25%, you should aim for 6.50% or lower to make refinancing worthwhile.
| Current Rate | Target Rate | Recommendation |
|---|---|---|
| 7.25% | 6.50% or lower | ✓ Refinance |
| 7.00% | 6.25% or lower | ✓ Refinance |
| 6.75% | 6.00% or lower | ✓ Refinance |
| 6.50% | 5.75% or lower | ⚠ Maybe |
Check current refinance rates to see if you meet the 0.75% rule!
🎯 Beat the 0.75% Rule?
Get quotes from 300+ lenders and find the lowest rate available!
Compare Refinance Rates Now →🔑 5 Critical Factors
1. How Long You'll Stay
Rule: Stay longer than break-even point.
If break-even is 42 months, you need to stay at least 3.5 years to benefit. Calculate your break-even before deciding.
2. Your Credit Score
Best rates: 740+ credit score
Higher credit = lower rates. If your score improved since original loan, you may qualify for better rates.
3. Current Loan Term
Consider: Remaining loan term
Refinancing from 30-year to 15-year can save $100K+ in interest but increases monthly payment.
4. Cash-Out vs Rate-and-Term
Rate-and-term: Lower rate only
Cash-out: Take equity + refinance (higher rates)
5. Fed Rate Predictions
November 2025: Rates at 6.45%
Experts predict rates may drop to 6.0-6.25% by Q2 2026. Lock in now or wait? Compare options.
❌ When NOT to Refinance
Moving Soon
If you're moving within 2-3 years, you won't reach break-even point.
Rate Drop Less Than 0.50%
Savings too small to justify closing costs and hassle.
Credit Score Dropped
Lower credit = higher rates. Wait until score improves.
Near End of Loan
If you're 20+ years into a 30-year loan, most interest already paid.
❓ FAQ
🚀 Ready to Refinance?
Compare rates from 300+ lenders and save $100s per month!
Get My Refinance Quote Now →✓ Free quotes ✓ No credit impact ✓ 2-minute process ✓ 300+ lenders