Mortgage Refinance Analyzer

What it does

Compares your current mortgage to a refinance proposal. Computes monthly payment savings, total interest difference (often UP, not down — flagged when so), break-even month for closing costs, and net benefit at 5/10/15-year horizons.

Who this helps

Anyone offered a refi quote. The break-even-month math is what matters: if you'll move/refi again before then, the closing costs eat the savings.

How to use it

1. Enter your current loan: balance owed, rate, and years remaining.
2. Enter the refi proposal: new rate, new term, closing costs.
3. Toggle whether closing costs are rolled into the new loan or paid out of pocket.
4. Optionally add cash-out.
5. Read the verdict — usually 'strong refi' / 'reasonable' / 'probably skip' / 'don't refi' based on break-even relative to typical homeowner tenure.

What it doesn't do

Doesn't quote actual lenders — you bring the proposal in. Doesn't model mortgage points purchase (lower rate, higher closing costs); roll those into the closing-cost number for an approximation.