What costs should I include?
Common costs include legal fees, valuation, processing fees, and early settlement charges if any.
What is breakeven?
Breakeven is how many months of monthly savings are needed to recover your refinancing costs.
Why does my monthly go down but total cost goes up?
If you extend the tenure, you may pay more total interest even with a lower monthly installment.
Does this include lock-in period penalties?
No. Add any penalty amount into refinancing costs to estimate breakeven.
Is refinancing always worth it?
Not always. Consider tenure, fees, penalties, and whether you will hold the property long enough to reach breakeven.
Why is breakeven shown as “—”?
If the new monthly installment is not lower than your current monthly, there is no savings to offset costs.