Would a refinance actually pay for itself?
A lower rate isn't automatically a win once you factor in closing costs. This shows how many months it takes to break even.
Your current vs. new loan
This calculator provides estimates for educational purposes only and is not a loan approval, quote, or commitment to lend. Actual figures depend on your credit profile, final interest rate, property taxes, homeowners insurance, mortgage insurance, HOA dues, loan program, and other underwriting factors. This does not account for changes in loan balance beyond principal and interest, cash-out amounts, or tax implications. Talk with Chad to get numbers specific to your situation.
FAQ
Will rates definitely come down so I can refinance later?
No one can promise that. Refinancing later may become an option if market conditions, your credit, and the property's value line up — but it's never guaranteed, so a purchase decision shouldn't rely on it.
Want to talk through what this means for you?
Numbers are a starting point. Let's turn them into a real plan.