Refinance Break-Even Calculator

Compare your current mortgage to a refinance. See the new payment, monthly savings, how many months until you break even on closing costs and points, and the total interest difference.

Current loan balanceCurrent rate (%)Years remaining on current loanNew rate (%)New loan term (years)Closing costsPoints cost (prepaid interest)

New monthly payment

$1,641

vs $2,075 now

Monthly savings

$434

Before taxes/insurance changes

Upfront cost (closing + points): $6,500
Break-even (months): 15 months (1.3 years)
Interest on current loan (remaining): $262,826
Interest on new loan: $305,623
Interest difference (you save): $0
Total cost of new path (payments + upfront): $597,123

Break-even is calculated as (closing costs + points) ÷ monthly payment savings. It ignores taxes, insurance, escrow changes, and any cash you bring to the table. If you roll costs into the loan the math changes.