Mortgage Refinance Break-Even Calculator
Determine your monthly payment savings, lifetime interest reduction, and exact break-even timeline to recoup closing costs when refinancing your home loan.
Current Mortgage Details
New Refinanced Mortgage
Typically 1.5% to 3% of the loan amount (origination, appraisal, title fees).
Great Opportunity to Refinance
Strongly Recommended! You will recoup closing costs quickly and generate substantial monthly savings.
Lifetime Interest & Net Cost Comparison
How it works
1
Input current mortgage balance, existing interest rate, and remaining years on the loan.
2
Provide the new interest rate, new term length (15, 20, or 30 years), and anticipated closing costs.
3
Review your monthly payment difference, break-even timeline in months, and total interest comparison.
Frequently asked questions
What is a mortgage refinance break-even point?
The break-even point is the number of months required for your monthly payment savings to equal the upfront closing costs of the new loan.
What closing costs are associated with refinancing?
Refinance closing costs typically range between 1.5% and 3% of the loan amount and cover loan origination, appraisal, credit reporting, title search, and recording fees.
Is this tool free?
Yes. The site is supported by ads, so you never pay or need to create an account.
Does it work on mobile?
Yes. The page adapts to your screen and does not require installing any app.