FAQ
Questions people ask before they refinance
Short answers. The calculator still has to match your Loan Estimate.
What is a refinance break even calculator? +
It estimates monthly principal and interest on your current mortgage and on a new loan, then divides closing costs by the monthly savings. The result is how many months it takes for the refinance to pay for itself through P&I.
Does RefiBreak include taxes and insurance? +
No. The payment shown is principal and interest only. Property taxes, homeowners insurance, HOA dues, and mortgage insurance are separate and can change when you refinance.
Should I refinance if I only drop the rate by 0.25%? +
Sometimes, if the balance is large, fees are low, and you will stay well past break-even. Sometimes not. Ignore the 1% rule as a law and run your own quote.
Why did my payment go down but total interest went up? +
A longer new term spreads the balance over more months. You can save each month and still pay more interest over the life of the loan. That is why the interest comparison is optional and recommended.
Do I enter years or months? +
Years, including decimals (27.5 is 27 years and 6 months). The calculator converts to whole months.
Are my numbers sent to a server? +
No. The math runs in your browser. There is no account and no loan application. See the privacy page for what the static site may log at the host.
Is this a loan offer or pre-qualification? +
No. RefiBreak is not a lender, broker, or credit decision. Nothing here is a commitment to lend or financial advice.
What if I roll closing costs into the new loan? +
Then the new balance is higher than today’s payoff. This version compares the same balance. Add rolled-in fees to the balance yourself, or treat them as closing costs you still have to recoup.
How is this different from a lender’s mortgage refinance calculator? +
Many lender tools optimize for a lead form. RefiBreak is a static page: P&I, savings, break-even, and interest comparison, with the assumptions written in the guides.
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.