Remortgage Calculator

If new rate is 0.5%+ lower AND break-even point (closing costs ÷ monthly savings) < years you plan to stay. Refinance fixed-rate when rates drop; ARM expiration mandatory check.

Appraisal ($300–600), underwriting ($400–900), title search ($150–300), points (0–2%), closing costs total 2–5% of loan. Need break-even within reasonable timeframe.

Difficult if LTV > 80%. If you have equity, yes. If underwater, no (lender won't refinance). Government programs (HARP in US) sometimes help; check eligibility.