Calculadora de Refinanciamiento — ¿Debo Refinanciar?
Should I refinance my mortgage?
Enter your current loan details and the new loan terms into the calculator above. It compares your current monthly payment to the proposed new payment, calculates your monthly savings, and shows your break-even point — the number of months until the savings exceed the refinancing costs.
¿Cuándo Debe Refinanciar?
El refinanciamiento generalmente tiene sentido cuando puede reducir su tasa al menos un 0.5-1%, planea quedarse en la vivienda más allá del punto de equilibrio o necesita cambiar de una tasa ajustable a una tasa fija. El refinanciamiento con retiro de efectivo puede consolidar deudas o financiar renovaciones, pero aumenta el saldo de su préstamo.
Refinance FAQ
Refinancing typically makes sense when you can lower your rate by at least 0.5-1%, plan to stay in the home past the break-even point, or need to switch from an adjustable to a fixed rate. The break-even point is when your monthly savings exceed the closing costs of the new loan.
The break-even point is when your cumulative monthly savings equal the closing costs of refinancing. For example, if refinancing costs $4,000 and saves you $200/month, your break-even is 20 months. If you plan to stay in the home longer than that, refinancing makes financial sense.
Refinancing closing costs typically range from 2-5% of the loan amount. On a $350,000 loan, that's $7,000-$17,500. Costs include appraisal, title insurance, origination fees, and recording fees. Some lenders offer no-closing-cost refinances in exchange for a slightly higher rate.
Yes, a cash-out refinance lets you borrow more than your current mortgage balance and receive the difference as cash. This can consolidate high-interest debt into a lower mortgage rate. However, it increases your loan balance and extends your payoff timeline, so use our debt consolidation calculator to compare.