Refinance Break-Even Calculator

Determine when refinancing your mortgage will pay off

Current Loan

Current Balance ($)

Current Interest Rate (%)

Payments Remaining

New Loan

New Interest Rate (%)

New Loan Term (years)

Closing Costs ($)

Points Cost ($)

Break-Even Analysis

Recommendation

Refinancing May Save Money

Break-Even Point

23 months

(1.9 years)

Monthly Savings

$266

Current Payment

$2,162

New Payment

$1,896

Total Closing Costs

$6,000

Net Savings Over Time

5 Years:$9,960

10 Years:$25,920

Life of Loan:$11,920