Refinance Calculator
Estimate whether refinancing pays off. Compare current and proposed loan terms to estimate break-even month and long-term savings after refinance costs.
Refinance break-even estimate
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Your estimate
How the estimate works
- Current and proposed payments use standard amortization. Break-even months divide closing costs by monthly payment savings.
- Change one assumption at a time to compare scenarios.
- Use current balances, rates, costs, and timelines whenever possible.
Important limitation
A longer replacement term can lower the payment while increasing lifetime interest. Results are estimates only and are not financial, lending, legal, tax, or investment advice.
Official refinance guidance
The break-even estimate above divides entered closing costs by monthly payment savings. Use the Consumer Financial Protection Bureau's Loan Estimate explainer to verify each offer's costs, cash to close, payment features, and five-year comparison rather than relying on an advertised rate alone.
Assumptions and review
Formula review: July 29, 2026. This tool uses only the values shown above and does not pull live rates, balances, prices, or account data.
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Frequently asked questions
How does the refinance calculator work?
Current and proposed payments use standard amortization. Break-even months divide closing costs by monthly payment savings.
Can I change the assumptions?
Yes. Every displayed input is editable so you can compare scenarios directly.
Are these results guaranteed?
No. Results are estimates only and should be used for planning, not as financial, legal, lending, or tax advice.