Free Tool · Break-Even in Seconds · 2026 Refi Rates

Refinance Calculator — Should I Refinance?

Enter your current loan and the new rate you’re being quoted. We’ll show your new payment, monthly savings, exact break-even month, and the true lifetime interest impact — including Florida’s doc stamps and intangible tax.

Find My Break-Even Month Florida Refinance Programs

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See If Refinancing Actually Pays Off

Real-time math on your monthly savings, break-even month, and total lifetime interest impact — the metric most calculators hide.

Your Refinance Scenario

All fields update in real time. No personal info required.

Your Current Loan

Current Loan Balance

Current Interest Rate

Years Remaining ?

yrs

Current P&I (auto)

$ /mo

Your New Loan

New Interest Rate

New Loan Term

Closing Costs ?

Cash-Out Amount ?

Options

Roll closing costs into the new loan (most common — keeps cash in your pocket)

Monthly Payment Change

You save

$0/month

Break-even at month 38

Net Refinance Value Over Time

Recovered + Savings

New Monthly P&I

New Loan Amount

Closing Costs

Lifetime Interest Δ

Lock My Refinance Rate Talk to a Florida Refi Specialist

Estimates are for illustration only and do not constitute a loan offer. Closing costs vary by lender, county, and whether the refi qualifies as a renewal under Florida tax law.

The Three Refi Numbers That Matter

Cash-Flow Win vs. Lifetime Cost Win

Most refi calculators show monthly savings and stop there. They miss the bigger picture: extending your term resets the loan clock and can cost more in total interest. Both numbers matter.

$/mo

Monthly Payment Savings

The most visible benefit. Lowering your rate by 1% on a $320,000 loan typically frees up $200–$280 a month — useful if cash flow matters.

B/E

Break-Even Month

Closing costs ÷ monthly savings = the month the refi starts paying you back. If you’ll move or refi again before that month, you lose money.

Lifetime Interest Change

The honest total. Resetting a 26-year loan to a fresh 30-year often raises lifetime interest even when monthly payment drops. The calculator shows both.

How To Use It

Run Your Refi Math in Four Steps

Pull a recent mortgage statement for your balance and rate. Everything else updates live.

STEP 01

Enter your current loan

Today’s balance, interest rate, and how many years are left. Your current P&I auto-calculates below.

STEP 02

Add the new rate

The rate you’ve been quoted, or a market estimate. May 2026: 30-yr refis run 6.71–6.83%, 15-yr 5.99–6.16%.

STEP 03

Set closing costs

Florida refis typically run 2–5% of loan amount. Default 3% covers FL doc stamps, intangible tax, and standard lender fees.

STEP 04

Read both numbers

Monthly savings + break-even month + lifetime interest delta. All three matter when deciding if the refi is worth it.

Why Florida Refi Math Is Different

Florida Charges Two Taxes Most States Don’t

Florida levies two state-specific taxes on every new mortgage: documentary stamp tax on the promissory note (0.35% of loan amount) and nonrecurring intangible tax on the mortgage (0.20% of loan amount). Together that’s a baked-in 0.55% extra cost on every refinance.

The good news: a 2025 Florida appellate ruling (Bank of America v. Florida DOR) clarified that rate-and-term refinances with the same lender often qualify as renewals — meaning the state taxes apply only to any increase in principal, not the full loan amount. If you’re doing a same-balance refi with your current lender, you may save 0.55% of your loan in taxes.

The not-so-good news: cash-out refinances and new-lender refis generally trigger the full tax on the entire new loan. That’s an extra $1,650 on a $300,000 cash-out refi — on top of standard closing costs.

Most Florida refinance calculators ignore this. Ours bakes the FL tax stack into the default 3% closing-cost assumption. We’ve been writing Florida refis since 1987 and know exactly when the renewal exemption applies.

2026 Florida Refi Tax Stack

0.55%

State-specific taxes on every Florida mortgage: 0.35% doc stamp on the note + 0.20% intangible tax. On a $300,000 refi, that’s $1,650 before lender, title, or appraisal fees.

Renewal exemption (2025 ruling)

Same-lender, same-balance rate-and-term refis may qualify as renewals — eliminating the state taxes on unchanged principal. Cash-out and new-lender refis pay full tax.

Typical FL refi closing costs

2–5% of loan amount · State taxes · Title insurance (reissue rate available) · Appraisal $500–$700 · Lender fees · Recording

Pick The Right Refinance Type

Florida Refinance Programs Compared

Not every refi is the same product. Streamline programs skip the appraisal. Cash-out lets you pull equity. Here’s how they stack up for 2026.

Refi Type	Min Credit	Max LTV	Appraisal?	Close Time	Best For
Rate-and-Term Conventional	620	95%	Yes	30–45 days	Lowering your rate or term without taking cash out
Cash-Out Conventional	620	80%	Yes	30–45 days	Pulling equity for renovations or debt consolidation
FHA Streamline	580	N/A	No	15–25 days	Existing FHA borrowers lowering rate; no income docs needed
VA IRRRL	580	N/A	No	15–25 days	Existing VA borrowers; 0.5% funding fee; fastest VA refi
Jumbo Refinance	700	80%	Yes	35–55 days	Loan amounts above $832,750 (2026 conforming limit)
Non-QM Refi	620	75%	Yes	35–55 days	Self-employed or unconventional income

Not sure which refi program fits your situation? We’ll match you to the right one on a free 10-minute call — no obligation, no credit pull until you say so.

Find My Refi Program

FAQ

Common Questions About Refinancing in Florida

Honest answers about the math — including the lifetime interest impact most calculators hide.

Got a question we didn’t answer?

Alex Doce has been writing Florida refinances since 1987. He’ll walk through your numbers, show you the exact math for your scenario, and tell you straight up if the refi is worth it.

Talk to a Florida Refi Specialist

It depends on your current rate and how long you’ll stay in the home. As of May 2026, 30-year refinance rates average 6.71–6.83% and 15-year rates run 5.99–6.16%. The classic guideline is that refinancing pays off when you can drop your rate by at least 0.75–1.0% and you’ll stay past the break-even month. With 2026 rates still in the mid-6% range, refinancing typically benefits homeowners who locked rates above 7.25% during 2023–2024.

Break-even months = total closing costs ÷ monthly payment savings. Example: if your refinance costs $9,600 and your new payment is $250 lower per month, your break-even is 38 months (about 3.2 years). If you plan to keep the home and the loan past that point, the refinance pays off. If you’ll sell or refinance again sooner, you’ll lose money. The calculator above runs this for your exact scenario in real time.

The 1% rule says refinancing usually makes sense when you can lower your interest rate by at least one full percentage point. The rule is a rough guideline, not a law. On larger loans ($500k+), a 0.5–0.75% drop can still produce solid monthly savings. On smaller loans (under $200k), you may need a 1.5%+ drop to overcome closing costs. The break-even math always wins over rules of thumb — run your real numbers above.

Florida refinance closing costs typically run 2–5% of the loan amount. Florida specifically adds two state taxes that most other states don’t have: documentary stamp tax on the new mortgage note (0.35% of loan amount) and nonrecurring intangible tax (0.20% of loan amount). On top of those, expect lender fees, appraisal ($500–$700), title insurance (often available at the lower reissue rate), and recording fees. A 2025 Florida court ruling (Bank of America v. Florida DOR) clarified that rate-and-term refinances with the same lender can qualify as renewals — potentially reducing or eliminating the state taxes on the unchanged principal balance.

Rolling closing costs into the new loan keeps cash in your pocket and is the most common choice — it just slightly increases your loan balance and adds a small amount of interest over the loan’s life. Paying closing costs upfront in cash means a lower loan balance, faster payoff, and lower total interest. The calculator handles either option. If you have the cash and plan to keep the loan many years, paying upfront usually wins. If cash is tight or you may refinance again soon, rolling them in makes more sense.

Yes — and it’s often the smartest refinance. Going from a 30-year to a 15-year typically gets you a 0.5–0.8% lower rate plus cuts decades of interest off the loan. The trade-off is a noticeably higher monthly payment. On a $320,000 loan, switching from 30-year at 7.5% to 15-year at 5.99% drops total interest from roughly $485,000 to $165,000 — saving over $320,000 — but the monthly payment rises by about $550. The calculator lets you toggle between 15, 20, and 30-year terms to compare.

A rate-and-term refinance simply replaces your existing loan with a new one at a better rate or different term, with the new loan equal to your current balance plus closing costs. A cash-out refinance increases the loan amount beyond what you owe and gives you the difference in cash — typically used for renovations, debt consolidation, or major expenses. Cash-out rates are usually 0.25–0.75% higher than rate-and-term, you can borrow up to 80% of your home’s value, and Florida’s 0.35% doc stamp plus 0.20% intangible tax apply to the full new loan amount.

A typical Florida refinance closes in 30–45 days. The biggest variables are appraisal turnaround (usually 7–14 days), underwriting (5–10 days), and the federally required 3-day rescission period after closing. FHA Streamline and VA IRRRL refinances often close faster (15–25 days) because they skip the appraisal and most underwriting. The Doce Mortgage Group has been writing Florida refinances since 1987 and typically closes purchase refis in under 30 days.

Ready To Lock A Refi Rate?

Numbers Look Good? Let’s Get Your Rate Locked.

A 10-minute call gets you a real refi rate quote and same-week pre-approval. We’ve been writing Florida refinances since 1987 — FHA Streamline, VA IRRRL, conventional rate-and-term, and cash-out. No obligation. No credit pull until you say so.

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