Mortgage tools
Refinance Break-Even Calculator
Compare an estimated new payment with your current payment and see when closing costs may be recovered.
Free, private estimate
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HomeMoneyTools provides calculators and educational information for general informational purposes only. Results are estimates and may not reflect actual lender terms, taxes, insurance, fees, market conditions, or other costs. HomeMoneyTools does not provide lending, financial, tax, legal, real-estate, or investment advice. Always verify important financial information with the appropriate licensed professional or provider.
How this estimate works
Break-even is an estimated number of months for monthly payment savings to equal estimated closing costs. It does not include every possible tax, timing, or financing effect.
HomeMoneyTools provides calculators and educational information for general informational purposes only. Results are estimates and may not reflect actual lender terms, taxes, insurance, fees, market conditions, or other costs. HomeMoneyTools does not provide lending, financial, tax, legal, real-estate, or investment advice. Always verify important financial information with the appropriate licensed professional or provider.
Common questions
What is refinance break-even?
Closing costs divided by estimated monthly payment savings.
Does a lower payment always mean lower cost?
Not necessarily; a longer term can lower payments while increasing total interest.