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Refinance break-even calculator

Will the refi pay off? Enter your current loan, the new rate you're being quoted, and your closing costs. Get the break-even month and a clear verdict — no spreadsheet required.

Your numbers

Current loan balance$400,000
Current interest rate7.50%
Years remaining on current loan28 years
New interest rate6.50%
New loan term30 years
Refinance closing costs$4,500

Typical refi costs run 2-3% of loan amount.

Years you plan to stay7 years

Monthly savings

$273

After refinance, your new monthly P&I drops by this much.

Current monthly P&I$2,832
New monthly P&I$2,528
Closing costs$4,500
Break-even monthMonth 16
Net savings if you stay$18,432
Refi makes sense

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.

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