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Refinance Breakeven Calculator
Should you refinance? Compare your current loan with a new one to find your breakeven point and estimated savings.
Refinancing can lower your monthly payments, but it comes with upfront costs. Use this calculator to determine how long it will take to recoup those costs (your "breakeven point") and start saving money.
Current Loan
$
$
New Loan
$
Typically 2-4% of loan amount
Loan Comparison
MetricCurrent LoanNew Loan
Interest Rate7.5%0%
Remaining Term25 Years30 Years
Monthly P&I$2,586$972.22
Monthly Savings
+$1,613.78
Time to Break Even4 mo
Closing Costs to Recoup$5,000.00
Lifetime Savings+$420,800