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Refinance break-even calculator
Enter your current loan, a proposed rate, and closing costs to estimate the break-even point. Compare the full cost and new loan term before deciding. This tool gives an estimate, not a loan offer.
Your numbers
Typical refi costs run 2-3% of loan amount.
Monthly savings
$273
After refinance, your new monthly P&I drops by this much.
You'll break even at month 16. Staying 7 years means net savings of about $18,000 after closing costs.
How break-even refinancing works
The refi math is simple: closing costs ÷ monthly savings = break-even months. If you'll own the home longer than break-even, the refinance saves you money. If not, it doesn't — full stop.
Other reasons to refi that aren't covered by break-even alone: dropping PMI (extra savings beyond rate), shortening term to build equity faster, or pulling cash out for renovations or investments. Logan walks through your specific numbers in a 15-minute call before recommending anything.
Real numbers, real lender, real fast.
Same-day pre-approval. Refinance quotes done over the phone.