Refinance break-even calculator

A lower rate is not automatically a better deal. Find out exactly when a refinance starts saving you money.

Break-even point

0 mo

For illustration only. Principal and interest only, taxes and insurance excluded. Resetting your term can increase total interest paid.

How to read your result.

Break-even in months
Closing costs divided by monthly savings. If you will move or refinance again before then, the refinance loses money.
Watch the term reset
Refinancing into a new 30-year loan stretches your balance. Compare a matching term too, so savings are not just time.
Net savings over your stay
Monthly savings times the months you expect to stay, minus costs. This is the number that matters most.
No-cost options
A slightly higher rate with lender credits can remove closing costs and make break-even immediate.

Still wondering about something specific? Text or call and you will hear back from Marcus, usually within two hours.

For planning, 2% to 3% of your balance is typical. Your real Loan Estimate will list lender fees, title, appraisal and recording costs.

No. Taxes and insurance do not change because you refinance, so this calculator compares principal and interest only.

Check your latest mortgage statement for the maturity date, or count years since your loan started and subtract from the original term.

A note from Marcus

No credit pull, no pressure. Bring your questions and leave with a clear plan and real numbers.

4.9 rating from 612 borrowers (sample)