Compare a North Carolina mortgage refinance: new payment and break-even on closing costs.
Compares current vs refinanced North Carolina mortgage payments and shows the break-even month on closing costs, plus savings over the new term. Extending the term may lower payments but add interest.
Payment
M = P·r·(1+r)^n / ((1+r)^n − 1)
Estimate only — verify rates, taxes, title fees and insurance with lenders.
Add points into closing costs to see a true break-even; lower rates often cost points.
Rates are approximate state or national reference values. Local rates, exemptions and rules can differ, so treat the output as a planning figure only.