Refinance Break Even Calculator

Compare current vs new mortgage to see how many months to recover closing costs and total interest savings.

📊 Current Loan (your existing mortgage)

Current Loan Balance ($)

Current Interest Rate (%)

Remaining Years on Current Loan

Years left on your current mortgage

🔄 New Loan (refinance offer)

New Interest Rate (%)

New Loan Term (years)

Estimated Closing Costs ($)

Includes origination fees, appraisal, title, etc.

📈 Break Even Analysis

0 months

💵 Monthly Savings

💰 Total Interest Saved

📅 New Monthly Payment

💰 Break even point: The number of months required for monthly savings to cover your closing costs. If you plan to stay in your home longer than the break even period, refinancing likely makes financial sense.

💡 Pro tip: Shorter loan terms (e.g., 15 years) save more in interest but increase monthly payment. Always compare total interest paid over time, not just monthly savings.