Calculator

Refinance Break-Even

When does the refi savings cover the closing costs? If you'll stay in the home past that date, refinancing wins.

Should you refinance?

Yes — pays back in under 3 years.

Current loan

Current balance

Current rate

Years remaining

years

Monthly P+I$2,352.46

New rate

New term

Closing costs

Roll closing costs into the new loan (no cash at close)

New loan amount$338,500

New monthly P+I$2,084.20

Monthly savings

$268.26

Break-even

0 mo

Lifetime savings (held to term)

$40,115