Common questions
When does refinancing break even?
Break-even occurs when accumulated monthly payment savings equal the refinance costs. A lower payment alone does not guarantee lower total cost.
Does this include taxes and insurance?
No. The estimate covers principal and interest. Registration, taxes, insurance, lender fees and optional products can change the final payment.
Is the result a loan offer?
No. It is a planning estimate. Approval, rate and term depend on the lender, borrower, boat and transaction.