Refinance Break-Even Calculator
Find out if refinancing pays off, and the exact month you recover the closing costs.
🔒 Everything is calculated in your browser. Your numbers never leave your device.
How it works
- Enter your current balance, rate and years remaining.
- Enter the new rate, term and closing costs.
- Set how many years you expect to stay.
- Read the break-even month and net savings.
Break-even in plain terms
Closing costs are paid up front. Break-even is the number of months of lower payments needed to earn them back. If you move or refinance again before then, you lose money.
Watch the term reset
Starting a new 30-year loan can lower your payment while raising total interest. The net savings figure compares payments and remaining balances at the end of your stay.
Frequently asked questions
How low must the rate be?
There is no universal rule. What matters is whether monthly savings repay costs within the time you will stay.
Does it include cash-out?
No. It models a rate-and-term refinance of the current balance.
Can I roll closing costs into the loan?
You can, but it raises the balance. Add them to the balance if so.
Is my data saved?
Only in your browser.