Would refinancing lower my payment?
Type in your balance, your rate and the years left to compare your payment with a new loan. It's an example, not a quote or a loan offer.
Your loan today and a new loan
What you still owe. Your latest mortgage statement shows it.
The rate on your mortgage statement or your loan documents.
For example, a 30-year loan you've paid on for 5 years has 25 left.
Filled in with Freddie Mac's national average for 30-year fixed home purchase loans, 6.76% as of September 10, 2026. It's an average, not a quote, and refinance rates can differ. Type the rate a lender quoted you, especially for a 15-year loan.
New loan term
The check compares fixed-rate loans.
Leave it blank to use about 2% of your balance, the typical total for El Paso area refinances in 2024 (federal mortgage data). Half of them paid between 1.3% and 3%. Your Loan Estimate shows your real costs.
New monthly payment
Enter your balance, your current rate, the years left and a new rate to see the comparison.
Want a second look at your numbers?
Send me your comparison and I'll go over it with you. A lender makes the loan decision, but it helps to know where you stand first.
- What homes like yours have sold for lately, as a starting point for how much equity you may have.
- Whether staying and refinancing or selling fits your plans better, with numbers for both.
- How to read your Loan Estimates side by side. I don't make loans or pick a lender for you, and the CFPB suggests getting Loan Estimates from more than one lender.
Finish your comparison above and I'll see your exact numbers when you send them. Or reach out now.
Ximena Martinez, REALTOR® · 915-588-8892 · ximenatxrealtor@gmail.com
Brokered by ClearView Realty, LLC · TREC #824509