Compare current vs new loan. Formula: M = P·r(1+r)^n / ((1+r)^n -1) • Break-even = Closing Costs / Monthly Savings
Refinance expert • break-even, closing costs, savings instantly
Our refinance calculator shows your break-even point and lifetime savings using the exact mortgage formula. Enter current balance, current rate, new rate, closing costs and remaining years. We calculate current payment, new payment, monthly savings = current - new, break-even = closing costs / savings, and total savings over your remaining term.
In 2026, refinance if new rate is 0.75%+ lower and you stay past break-even (typically 14-36 months). Average closing costs are 2-4%. Use break-even to decide – if you move before break-even, refinance loses money.