LuniRefinance · A Lunibyte financial tool
Should you refinance?
Do the whole math.
A lower rate is not the same as a cheaper loan. LuniRefinance compares your current loan with a new one — mortgage, auto, student or personal — using the true break-even: fees, interest and the restarted clock, all counted. Mortgage rates below are today's real market estimates; your numbers never leave your browser, and no lender will ever call you.
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Your refinance
Mortgage refinancing uses today's live market rates (above), adjusted for your credit tier.
The verdict
Both loans, fully counted — payments, interest, fees and time.
Total cost so far = payments already made (from today) + balance still owed. Where the teal line drops below the grey one, the refinance starts winning.
Methodology — how we count
The true break-even
The common shortcut divides fees by the monthly saving. We simulate both loans month by month instead: at every month we compare payments made + balance still owed. The first month the new loan's total drops to or below the old one's is your break-even — it counts interest and principal exactly, for cash fees and rolled-in fees alike.
The restarted clock
Refinancing a loan with 28 years left into a fresh 30-year loan cuts the payment — and quietly adds two years of interest. Our lifetime comparison always shows both loans to their ends, so a "cheaper" payment can't hide a costlier loan. A shorter new term (20 or 15 years) is often where the real saving lives.
The rates
Mortgage estimates come from Freddie Mac's weekly survey via FRED, adjusted daily with Treasury yields and by credit tier — the method is documented on LuniMortgage. Auto, student and personal loans have no trustworthy public daily rate, so we prefill a typical strong-borrower example and expect you to replace it with your real offer. Averages are never a quote.
Questions, answered straight
When is refinancing worth it?
When the new loan's total cost (payments + interest + fees) ends up lower than keeping yours — and you expect to keep the loan past the break-even month. Rate rules of thumb ("only refi for 1% less") ignore fees, term changes and how long you'll stay; this calculator replaces the rule with your actual numbers.
What does break-even really mean here?
The month when refinancing stops costing you money and starts saving it, counting everything: upfront or rolled-in fees, interest paid, and the balance you'd still owe if you sold or paid off that month. If you move or refinance again before that month, the refinance loses.
Why can a lower payment cost more?
Because payments are spread over time. Extending the loan — say, 28 years left refinanced into a new 30-year term — lowers each payment while adding years of interest. Compare the "Total cost" figures, not just the monthly ones; shortening the term usually saves far more than the rate cut alone.
Should I refinance my federal student loans?
Only with your eyes open: a private refinance permanently ends federal protections — income-driven repayment, deferment/forbearance, and forgiveness programs. If there's any real chance you'll need those, the rate saving is usually not worth it. Private student loans carry no such trade-off.
Are these rates and fees my actual offer?
No. Rates are national averages/estimates (mortgage) or typical examples (other loans), and real fees vary by lender and state — title, appraisal and origination charges differ widely. Get written quotes, put the real numbers in, and let the math decide. Lunibyte is not a lender or broker and never sells your information.
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