Refinance break-even calculator
Compare your current mortgage payment to a refinanced one, factor in closing costs, and find your break-even month — the point where refinancing starts saving you real money.
$
%
%
years
Restarting a 30-year clock lowers payments but adds interest years
$
Typically 2–5% of the loan amount
You'd break even in
25 months
Stay in the home longer than about 2.1 years and the refinance pays for itself.
Current payment (P&I)$2,183/mo
New payment (P&I)$1,919/mo
Monthly savings$264/mo
Closing costs to recover−$6,500
Net saved after 5 years$9,364
Principal-and-interest only. Restarting the term also changes total lifetime interest — worth checking before you sign, especially years into your current loan.
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