Mortgage Refinance Calculator — Terrassa
Does refinancing your mortgage actually save money? Compares your current loan terms against a new rate, factoring in early-repayment penalties and refinancing fees to show the break-even point. Pre-filled with Terrassa medians from our latest snapshot (2026-05-09).
Inputs
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Results
Current monthly payment
€1,139
New monthly payment
€998
Monthly savings
€140
Total refinancing costs
€3,300
Break-even
23 mo
Lifetime interest savings
€30,418
Break-even in under 2 years — strong case to refinance if you plan to keep the property.
Lifetime savings (€30,418) is 3x+ the upfront cost — strong refinance candidate.
Data: Terrassa · 2026-05-09
Frequently Asked Questions
When is mortgage refinancing worth it in Europe?
Rule of thumb: refinance when the new rate is at least 1pp lower, you plan to stay 3+ years, and break-even is under 2 years. Spanish 2019 mortgage law caps prepayment penalties at 0.25-2%, making refinance cheaper than before.
Can I refinance with a different bank in Spain / France / Germany?
Yes — it's called "subrogación" in Spain, "rachat de crédit" in France, "Umschuldung" in Germany. The new bank pays off the old loan; you pay setup fees but often no early-repayment penalty if your contract permits.