No PMI — your down payment is 20% or more.
Nothing to finance — your down payment covers the full home price.
Principal vs. interest by year
Amortization schedule (yearly)
| Year | Interest | Principal | Balance |
|---|
Nothing to finance — your down payment and trade-in cover the full vehicle price.
Payment by term
| Term | Monthly | Total interest |
|---|
Frequently asked questions
It depends on your balance, rate drop, and remaining term. Example: refinancing a $320,000 balance from 7.4% to 6.8% with 26 years left saves about $124 per month — roughly $38,791 over the life of the loan. Enter your own numbers above for your actual savings.
Divide your closing costs (typically 2–5% of the balance) by your monthly savings to get your break-even point in months. If you'll stay in the home longer than that, refinancing usually pays off. In the example above, $6,000 of costs ÷ $124/month ≈ 48 months.
No. This calculator runs entirely in your browser and never runs a credit check.
Yes — free, no sign-up, and no personal information required to see your savings.
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Migrify.ai is a calculator, not a lender — we don't issue loans, quotes or pre-approvals. Estimates only; your actual rate depends on credit profile, location and lender. We may receive compensation from lending partners you choose to connect with.