Make AI run the break-even mortgage math the bank skipped
That $200-a-month refi savings pitch can cost you way more than you’re saving. Here’s the exact prompt to paste into any AI chatbot so it does the loan officer’s math for you, in your favor, before you sign anything.
ChatGPT/Kim Komando
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🏠The break-even trap
So you’re sitting at the kitchen table, staring at a bank email promising you could save $200 a month by refinancing. Tempting, but also unclear whether this is a deal or a beautifully formatted mugging. Who exactly is winning here?
The pitch is usually this: lower rate, lower payment, sign by Friday. The email doesn’t lead with closing costs, which run 2% to 6% of your loan amount. On a $400,000 mortgage, that’s $8,000 on the friendly end and $24,000 on the end where you quietly stop opening mail.
🔍 Make the bot do the job
Don’t argue with the lender. Run the numbers before you call them back. Open ChatGPT, Claude, Gemini or Grok. Paste this, filled in:
Act as a mortgage loan officer who works for me, not the lender. Current loan: [balance], [interest rate], [years remaining], [monthly payment excluding taxes and insurance].
New offer: [new rate], [new term], [estimated closing costs], [any points or fees]. Calculate my new monthly payment, my true break-even month including closing costs, total interest paid on both loans over their full terms, and the total cost if I sell in 3, 5 and 7 years. Flag any fee that looks padded, and tell me which questions to ask before signing.
📋 Then pressure-test it
Ask for the same numbers with the closing costs rolled into the loan versus paid in cash. Lenders love the roll-in, and it quietly adds interest to your fees. Ask what happens if you keep your current loan and throw the would-be savings at the principal instead. Sometimes that beats the refi outright.
Then get the Loan Estimate in writing. Federal law requires it within three business days, and it’s the only document where every fee has to be listed. AI can read it in “waiting for the Nespresso” time.
Two minutes of math to protect $12,000. That’s my kind of ROI.
😀 You need a smile after all that. What do you call an aging actor who has finally paid off his house? Mortgage freeman.
📩 Send this to the person with a refi offer sitting in their inbox and a calculator they haven’t opened.
