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Released January 17, 2017
Savings based on refinancing a 30-year fixed-rate mortgage with a 6% interest rate with one at a 4.979% interest rate. The difference in savings is approximately $10,552 in total payments for 5 years, based on a $250,000 loan amount. This analysis does not consider any closing costs or the effect of possibly lengthening the term of the loan. The chart below shows sample savings for $250,000 loan amount and is not a credit advertisement for any particular program or an offered or marketed rate:
| 30-year mortgage for $250,000 | Current Rate | New Rate |
| Interest Rate | 6% | 4.875% |
| Monthly Payment | $1,499 | $1,324 |
| Total Payment at 5 years | $89,932 | $79,381 |