US mortgage refinance
Find out when a refinance pays for itself
A refinance break even calculator for people who already have a rate quote. See monthly principal and interest before and after, how much you save, and how many months of those savings cover closing costs.
Refinance break even calculator
Your loan, before and after
Numbers stay in this browser. Change any field and the monthly P&I, savings, and break-even update instantly.
Current P&I
—
Monthly principal & interest
New P&I
—
After the refinance
Monthly savings
—
Compared with your current payment
Break-even
—
Months of savings to recoup closing costs
Total interest comparison
- Remaining interest, current loan
- —
- Interest on new loan
- —
- Interest difference
- —
- New interest + closing costs
- —
- Net after closing costs
- —
Not a lender offer. RefiBreak is an educational calculator, not financial, tax, or legal advice. Actual payments, APR, and closing costs depend on credit, loan type, escrow, and lender fees. Confirm figures with a licensed mortgage professional. Full disclaimer.
Guide
When a refi makes sense
Rate-and-term, cash-out, shorter terms, and the cases where the payment drop is a mirage.
Math
Break-even explained
Closing costs divided by monthly savings — plus why total interest can tell a different story.
Checklist
Closing costs to count
Lender fees, title, prepaid interest, and items that should not inflate your break-even.
What this mortgage refinance calculator includes
RefiBreak estimates fully amortizing monthly principal and interest on your current loan and on a new loan of the same balance. Taxes, insurance, and mortgage insurance are not included — those belong in escrow and can change independently of a refinance.
- Current monthly P&I versus new monthly P&I
- Monthly savings (or a higher payment, if the new loan costs more)
- Break-even months: closing costs ÷ monthly savings
- Optional remaining-interest comparison, including closing costs
Use it when you have a quote in hand, or to sanity-check a lender’s “save $200 a month” claim. Then read when a refinance makes sense and the FAQ before you lock.
Not a lender offer. RefiBreak is an educational calculator, not financial, tax, or legal advice. Actual payments, APR, and closing costs depend on credit, loan type, escrow, and lender fees. Confirm figures with a licensed mortgage professional. Full disclaimer.