Refinance Calculator
Find your break-even point, monthly savings, and total lifetime interest saved before committing to a refinance.
Your Refinance Scenario
Enter your current loan details and your potential new terms.
Current Loan
New Loan
💡 When Does Refinancing Make Sense?
A general rule: refinancing is worth it if you can lower your rate by at least 0.75–1%, plan to stay in the home past the break-even point, and the lifetime savings justify the closing costs. Use this calculator to find your exact break-even.
Refinance Analysis
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Understanding your refinance break-even
The break-even point is how long it takes for your monthly savings to cover the closing costs of the new loan. If you plan to sell or move before that point, refinancing likely won't pencil out financially.
For example: if closing costs are $4,500 and you save $150/month, your break-even is 30 months (2.5 years). Stay longer, and every month is pure savings.
💡 Cash-Out Refinance
If you have significant equity, a cash-out refinance lets you borrow against it — often at a lower rate than a home equity loan. The trade-off: a larger loan balance and potentially higher payment. This calculator models rate-and-term refinances only.
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Loan overview · Total cost · Payoff year · Scenario comparisons · Strategy insights
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