How much will I save refinancing $100,000 from 6.5% to 6%?

About $33 a month on a 30-year term, and $11,706 in lifetime interest compared with keeping the 6.5% loan for 30 years.

How long until I break even?

62 months on a 30-year term, assuming closing costs of 2% of the loan ($2,000).

What would a 15-year refinance at 6% cost?

$844 a month, $212 more than the current $632 payment, with $75,650 less lifetime interest.

What assumptions do these numbers use?

Principal and interest only, a current loan with 30 years remaining, and 2% closing costs paid separately. Taxes, insurance and mortgage insurance are excluded.

Rates depend on your credit, equity, loan type and lender. This page shows the math for that rate; it is not a quote. reficalculator.com is not a lender.

Refinance scenario

Refinancing a $100,000 mortgage from 6.5% to 6%

Refinancing $100,000 from 6.5% to 6% on a 30-year term saves about $33 a month, and with closing costs of 2% ($2,000) you break even in 62 months.

$100,000 with 30 years left at 6.5% (current payment $632), refinanced to 6%. Break-even uses 2% closing costs.
New term	New payment	Monthly savings	Lifetime interest difference	Break-even
30-year	$600	$33	$11,706 less	62 months
20-year	$716	−$84 (higher)	$55,601 less	n/a (payment rises)
15-year	$844	−$212 (higher)	$75,650 less	n/a (payment rises)

Is it worth it?

A break-even of 62 months is long. You'd need to keep the loan more than 6 years to come out ahead, so this refinance makes sense mainly if you're settled long-term or can get closing costs well below 2%.

Shorter terms raise the payment but cut lifetime interest sharply. Want the background? Read is it worth refinancing for 1%, or check your own costs with the break-even calculator.

Your refinance numbers

30-yr fixed avg 7.11% as of November 12, 2026

Source: Freddie Mac PMMS

Current loan balance

Current interest rate

New interest rate

New loan term

Years left on current loan (optional)

Take cash out (tap home equity)

New monthly payment

$600

Monthly savings$33

Lifetime interest savings$11,706

Break-even62 mo

Est. closing costs (2%)$2,000

At these numbers you break even in 62 months.

How we calculate this

Takes ~60 seconds. No credit check.

Estimates only. Default rates are Freddie Mac PMMS weekly averages — a national purchase-mortgage benchmark, not a local refinance quote. Payments are principal and interest only. reficalculator.com is not a lender or broker; see how we calculate.

Nearby balances

$150,000 from 6.5% to 6%

Other rate changes on $100,000

Frequently asked questions

How much will I save refinancing $100,000 from 6.5% to 6%?: About $33 a month on a 30-year term, and $11,706 in lifetime interest compared with keeping the 6.5% loan for 30 years.
How long until I break even?: 62 months on a 30-year term, assuming closing costs of 2% of the loan ($2,000).
What would a 15-year refinance at 6% cost?: $844 a month, $212 more than the current $632 payment, with $75,650 less lifetime interest.
What assumptions do these numbers use?: Principal and interest only, a current loan with 30 years remaining, and 2% closing costs paid separately. Taxes, insurance and mortgage insurance are excluded.
Can I get 6% today?: Rates depend on your credit, equity, loan type and lender. This page shows the math for that rate; it is not a quote. reficalculator.com is not a lender.