Refinance Calculator
Enter your current loan and new loan details to calculate monthly savings, lifetime interest savings, and how many months it takes to break even on closing costs.
Current Loan
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New Loan
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Frequently Asked Questions
How is the refinance break-even calculated?
Break-even = total closing costs ÷ monthly savings. Once you have lived in the home past that many months, you begin saving money from the lower payment.
Should I refinance if I plan to sell in 2–3 years?
Only if the break-even is shorter than your planned stay. If closing costs take 36 months to recoup and you sell in 24, you would lose money on the refinance.
Does the calculator account for taxes?
No — this is a pre-tax estimate. The tax impact of refinancing depends on whether you itemize deductions. Consult a tax advisor for your specific situation.