Refinance Calculator — Break-Even Month & Lifetime Savings

How to judge a refinance offer

Enter your current loan. Balance, rate, and years remaining.
Enter the offer. New rate, new term, and all closing costs.
Press Calculate. Monthly savings and the break-even month appear.
Check the fine print: only refinance if you'll stay past break-even — and compare lifetime interest, not just the payment.

What is the break-even point on a refinance?

Closing costs divided by monthly savings. A $7,500 close saving $150/month breaks even in 50 months — stay longer and you profit.

Is a lower rate always worth refinancing?

No. If closing costs are high or you move before break-even, you lose. A longer new term can also raise lifetime interest despite a lower payment.

What are closing costs made of?

Origination fees, appraisal, title insurance, and prepaid items — typically 2–5% of the loan. Points you buy to lower the rate count too.

Does refinancing restart the clock hurt me?

It can. Going from 26 years left to a new 30-year term adds 4 years of payments; the calculator's lifetime-interest line exposes that.

How much lower must the rate be?

The old 1% rule is a myth — it depends on balance, costs, and how long you stay. Run your numbers here instead of rules of thumb.

Is this financial advice?

No. Planning estimates only — a lender or advisor can quote your exact terms.

You’re here

Closing costs vs monthly savings — your break-even month.

This tool is free, with no account and no ads. If it saved you some time, consider supporting the indie dev behind it.