Mortgage Refinance Break-Even Calculator

Estimate how long monthly savings may take to recover refinance closing costs.

Current mortgage balance ($)

Months remaining

Current interest rate (%)

New interest rate (%)

New loan term (years)

Closing costs ($)

Estimated result

Current payment—

New payment—

Monthly payment reduction—

Closing-cost break-even—

Remaining cost difference—

A lower payment can still cost more if the new term extends repayment. Compare total remaining cost and how long you expect to keep the loan.

Illustrative estimate only. Actual lender disclosures, fees, taxes and underwriting rules control.