Refinance
Would refinancing actually help?
Not just whether your payment drops — whether it drops by enough to clear the refinancing costs, and what it does to your payoff timeline. A lower payment can still mean paying longer: matching your remaining term keeps your payoff date, a fresh 30-year term resets it. Enter your loan, then choose how long you might keep it.
Refinance comparison
Refinancing assumptions
Market-rate assumptionFreddie Mac 30-yr fixed average · week of Sep 24, 2026
Market-rate assumptionFreddie Mac 30-yr fixed average · week of Sep 24, 2026
Rates are illustrative, not quotes. The two refinance rates start equal to show the effect of term length — separate lender quotes may have different rates. Matching the remaining term is a comparison scenario; an exact term may not be offered. Costs are held equal across the two refinance examples.
Think about when you might sell, refinance again, or pay off the loan. Each result compares borrowing costs at this point with when its refinancing costs break even.
Enter your current interest rate above to see how these compare.
What does "borrowing cost" include?
Interest paid from today through your chosen horizon, plus refinancing costs. Principal repayment reduces your debt and is not counted as a borrowing cost. For costs added to the loan, the fee is counted once, plus the interest charged on it. This is an undiscounted comparison; it does not model returns on cash retained.
How is break-even calculated?
We compare cumulative interest plus refinancing costs against keeping your current loan at each month. Break-even is the first month the refinance is no more costly on that measure. This differs from dividing fees by monthly payment relief, which can confuse slower principal repayment with savings. The result is not a guarantee the refinance stays cheaper at every later horizon.
Assumptions and limits
Fixed-rate, fully amortizing loans with monthly payments, no extra principal payments, and no cash out. The current payment is modeled from your balance, rate and remaining term — confirm those against your statement. Taxes, home insurance, HOA, mortgage insurance, prepayment penalties, escrow deposits/refunds and tax effects are excluded. Enter true refinancing fees, including points, rather than refundable escrow funding. Actual loan terms, costs and eligibility require lender review.
Monthly figures are principal and interest only; they are not the full housing payment. Educational estimate. Not an offer, rate, or approval.
See also
What this estimate doesn't include
This assumes a straightforward rate-and-term refinance on your full remaining balance — not a cash-out scenario. It doesn't account for appraisal outcomes, escrow adjustments, or program-specific fees. Taxes, home insurance, HOA, mortgage insurance, prepayment penalties and tax effects are excluded — monthly figures are principal and interest only. We'll walk through the complete picture together before you apply.
Educational estimate. Not an offer, rate, or approval. Assumes a fixed-rate loan for a primary residence; your actual terms depend on credit, property, and program. Kinship Mortgage is a licensed broker. See calculator methodology.