Mortgage Refinance Break-Even
Finance & LoansCalculate monthly payment savings, closing cost breakeven timeline, and net lifetime interest savings when refinancing a home mortgage or loan to a lower interest rate.
Break-even · monthly saving 227.88
About this calculator
Refinancing an existing home mortgage can lower your monthly payment and reduce cumulative interest, but closing costs (origination fees, appraisal, title insurance) must be recouped before realizing net savings.
This calculator evaluates your current remaining amortization against a new loan amount, interest rate, and term, computing the exact number of months required to break even on closing expenses and your net 5-year savings.
How It Works & Formula
Monthly savings delta = Old Payment - New Payment. Breakeven Period (Months) = Total Refinance Closing Costs / Monthly Payment Savings. Lifetime savings compare cumulative remaining interest on the old loan versus the new loan.
Related Calculators
View All (33)Loan & Mortgage Calculator
Calculate monthly payments, total interest, and full amortization breakdown for mortgages and personal loans.
Compound Interest Calculator
Estimate investment growth with compound frequency, initial principal, and regular monthly contributions.
Auto Loan Calculator
Calculate monthly car payments factoring in trade-in value, down payment, sales tax, and loan term.
ROI & Investment Return
Measure Return on Investment, annualized ROI, and net profit from any financial project.