Sam · What-If StrategistWhat if mortgage rates fell by 1%?
A single percentage point can be worth a lot over a mortgage. See what refinancing to a lower rate could save you.
Free to start · iOS & Android
What a point is really worth
On a large balance over many years, even a 1% lower rate trims a noticeable amount off the monthly payment and a large sum off total interest. This estimates the monthly and lifetime saving, before fees, so you can judge whether refinancing is worth a closer look.
Questions people ask
How much does 1% off my mortgage rate save?
On a large balance it can lower the payment by a meaningful amount each month and save tens of thousands over the remaining term. The exact figure depends on your balance and years left.
Is refinancing always worth it?
Not always — closing costs, fees and a reset term can offset the saving, especially if you move soon. Compare the monthly saving against the upfront cost to find your break-even.
Does this include refinancing fees?
No. It shows the gross interest and payment saving only. Subtract your actual closing costs to see the net benefit, and check terms with your lender.
Related what-ifs
See it on your real money
Track your net worth, then ask Sam any “what if.” Free to start, on iOS and Android.
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