Refinance Break-Even Calculator

See if a refinance really saves money after closing costs, payment changes, and your expected time in the home.

— Fast refinance savings analysis
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How to Use This Refinance Calculator

This refinance break-even calculator helps homeowners compare their current mortgage against a refinance offer. It estimates your old payment, new payment, monthly savings, the exact month you recover closing costs, and your expected savings if you stay in the home for a specific number of years.

What matters most

The strongest refinance decisions usually come from lower rates, manageable closing costs, and enough time in the home to cross the break-even point. If your break-even is 20 months and you expect to stay 7 years, refinancing may produce meaningful savings. If you plan to move before break-even, the refinance often does not make sense.

Related mortgage tools

Use this with our mortgage calculator, amortization schedule calculator, and home affordability calculator for a stronger home-finance plan.