Refinance Savings Calculator

Break-Even Point • True Cost After Fees • Is It Actually Worth It

A lower rate doesn't automatically mean refinancing is worth it — the upfront costs need time to pay for themselves. This compares your current loan against a refinanced one on a like-for-like basis and shows the exact break-even point, so the answer depends on how long you actually plan to keep the loan, not just the rate difference.
Your Current Loan
$
The Refinance Offer
Often reset to a new fixed term — check your offer.
$
Your Plan
If you'd sell the home or pay off the loan before this, refinancing may not pay off.
About
Refinance Costs to Watch For
Contact

About the Refinance Savings Calculator

Refinancing to a lower rate almost always lowers your monthly payment, but that's not the same as it being worth doing — the closing costs and any penalty need to be earned back through those monthly savings before you come out ahead. This calculator works out your current and refinanced monthly payments, the exact break-even point in months, and a full cost comparison over however long you actually plan to keep the loan — since a lower rate on a loan you'll pay off or sell before the break-even point can end up costing more, not less. Everything is calculated locally in your browser.