$150,000 Mortgage Refinance (30-Year) Rate Cut Savings Calculator
Calculate monthly payment savings and total net interest saved by refinancing a $150,000 mortgage to a lower rate over 30 years.
Calculation Inputs
Calculation Results
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Enter inputs on the left and click Calculate to view results.
Formula & Methodology
Monthly Savings = CurrentPMT - NewPMT; BreakEven = ClosingCosts / MonthlySavings
Calculates exact break-even timeline and monthly savings for refinancing a $150,000 mortgage.
Frequently Asked Questions
When is refinancing worth it?
Refinancing is generally beneficial if you can lower your interest rate by 0.75% to 1.0% or more and plan to stay in the home past your break-even period.