Mortgage Refinance Break-Even Calculator

Find out how long it takes to break even on a refinance — and whether it’s worth it.

Current loan

Remaining balance ($)

Current rate (%)

Months left

New loan

New rate (%)

New term (months)

Closing costs ($)

Current payment

$1,949

New payment

$1,634

Monthly savings

$315

Break-even & lifetime impact

Break-even point

17.4 months

Interest left on current

$374,944

Interest on new (+ closing)

$313,741

Worth it: you’d save about $61,203 in lifetime interest after closing costs.

About this tool

Enter your current loan, the new loan, and the closing costs. Get the monthly savings, the break-even point in months, and the lifetime savings. The classic r/personalfinance refinance sanity check.

Related tools

More calculators you might find useful.

Rent Affordability Calculator

Find out how much rent you can afford based on your income.

Shopify Shipping Simulator

Estimate shipping cost and margin on a Shopify order.

Appliance Energy Cost Calculator

Calculate how much an appliance costs you per month and per year.

Other categories

Looking for something different? Browse the rest of the catalog.

Suggest a tool