Refinance Calculator
Will refinancing your mortgage actually save you money? Find the break-even point.
Comparison
Monthly savings
$0
Current payment
$0
New payment
$0
Break-even
—
Lifetime interest saved
$0
The break-even point
Refinancing has upfront costs (origination, appraisal, title, recording — typically 2–5% of the loan). Until your monthly savings recoup that outlay, you're underwater. The break-even point tells you how many months until refinancing pays for itself.
Rule of thumb
Break-even less than 24 months and you plan to stay 5+ years → refinance. Break-even over 5 years and you might move soon → probably skip it.
Watch the term
Refinancing from "25 years left" into a new 30-year loan lowers your monthly payment, but you've added 5 years of payments. Total lifetime interest may actually increase even though the monthly drops. The "lifetime interest saved" row above accounts for this.