Refinance Break-Even Calculator
Find out when your refinance pays for itself — and how much you'll save long term.
Break-even
19.9 mo
Current payment
$1,910
New payment
$1,634
Monthly savings
$276
Lifetime savings
$93,892
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This is an estimate for educational purposes only. Not a commitment to lend.
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Toll Free: 1-866-666-2378 (866-666-BEST)
Frequently asked questions
How does the break-even work?
Divide your closing costs by the monthly payment reduction. The result is the number of months you need to stay in the loan to recoup the costs.
What's a good rate reduction to refinance?
A common rule of thumb is 0.5%-0.75% or more, but the real answer depends on your closing costs and how long you plan to keep the loan.
Can I roll closing costs into the loan?
Yes, but it slightly increases your balance and reduces your true savings. This calculator assumes closing costs are paid at closing.