Refinance Break-Even Calculator
Monthly savings and months to recover refinance costs.
How it works
Both payments use P × r ÷ (1 − (1 + r)^−n) with the same balance and term. Monthly savings = current payment − new payment. Break-even months = closing costs ÷ monthly savings. Net savings over your stay = savings × 12 × years − costs. Rolling costs into the loan, a longer term, or cash taken out changes the result, so compare total interest too. Example: Refinancing $300,000 from 7 percent to 5.5 percent over 25 years drops the payment from $2,120.34 to $1,842.26. Savings of $278.08 a month recover $4,500 of costs in 16.2 months.
FAQ
Is this calculator free?
Yes. No signup is needed and nothing you enter is stored.
Is the result exact?
Results are rounded for display. For financial, medical, or legal decisions, confirm with a professional.
Do my numbers leave my device?
No. The calculation runs in your browser.