Question 1

What does this refinance calculator do?

Accepted Answer

It compares your current mortgage against a proposed refinance, calculating your new monthly payment, monthly and lifetime interest savings, break-even point on closing costs, and 1/5/10/20-year net savings — all in real time as you adjust the inputs.

Question 2

Does it factor in property tax, insurance, and PMI?

Accepted Answer

Yes. Enter your annual property tax, annual home insurance, HOA dues, and PMI rate. The calculator bundles those into your total monthly payment and automatically applies PMI when your loan-to-value ratio exceeds 80%.

Question 3

Can I model debt consolidation?

Accepted Answer

Yes. Check the Debt Consolidation box on the New Loan card, then add each existing debt (credit cards, auto loans, etc.). The calculator compares your current mortgage payment plus those debts against the new refinanced payment.

Question 4

What is the break-even point?

Accepted Answer

The break-even is how many months it takes for your monthly savings to recover your closing costs. If you plan to keep the home longer than the break-even, the refinance pays off.

Question 5

How do I share a personalized analysis with my borrower?

Accepted Answer

Click Generate Link. The calculator encodes all the loan inputs into a URL you can text or email. When your borrower opens the link, they see the analysis pre-filled with your contact info as their loan officer.