Refinance · Calculator
What Does WaitingActually Cost You?
Compare refinancing now versus waiting for a lower rate. See the savings you give up each month, and how many months the extra savings take to make up the difference.
Current Loan
Refi Now
Wait & Refi Later
Closing costs are added to the new loan balance. Remaining months = total term minus payments already made.
Side-by-Side
Cost of Waiting
You break even on waiting after 15.7months in the new loan. Worth it if you're staying long-term.
How the Math Works
The cost of waiting is simply the number of months you wait multiplied by the monthly savings you could be getting by refinancing today. That's money that leaves your pocket while you wait for a lower rate.
Once you've waited and refinanced at the lower rate, the extra monthly savings (compared to refinancing now) slowly repay that cost. Divide the cost of waiting by the extra monthly savings to get your recovery time.
When Waiting Makes Sense
Waiting can be worth it if the rate drop is significant enough (typically 0.5%+ more than what you could get today) and you plan to stay in the home long enough for the extra savings to catch up.
If the recovery period is 12–18 months and you're staying long-term, waiting might be smart. If it's 3–4 years, the certainty of saving now usually wins.
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Sean Leighton Gray · NMLS #1523173 · Licensed in AZ, IL & TN
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