Refinance break-even calculator
Find out how long a refinance takes to pay for itself, using your own numbers.
Estimates only, based on the numbers you enter. Not an offer of credit or a loan approval.
How break-even works
Divide your closing costs by how much your monthly payment drops. The answer is the number of months until the refinance pays for itself.
If you plan to keep the home longer than that, the refinance saves you money. If you might move sooner, it may not.
Good to know
What is a refinance break-even point?
It's how many months of lower payments it takes to earn back what the refinance cost.
Is a refinance worth it?
Often, when you'll keep the home past the break-even point. Rate Watch can tell you when the market moves enough to check.
What counts as closing costs?
Lender and title fees, appraisal, and prepaid items. Your Loan Estimate lists them line by line.
Can I refinance with no closing costs?
Some loans trade a lender credit for a slightly different rate. We'll show you both side by side.
Does checking my options hurt my credit?
No. We start with one soft credit pull, which doesn't affect your score.