Compare your current mortgage to refinance options and calculate break-even point, monthly savings, and lifetime savings
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Refinancing can save thousands—or cost you money if done at the wrong time. Our calculator compares your current mortgage to potential refinance options, showing monthly savings, break-even point, and total lifetime impact. Make a data-driven decision about refinancing your home.
Refinancing replaces your current mortgage with a new one, typically to get a lower interest rate, change loan terms, or access equity. The key is whether the savings outweigh the closing costs. Your break-even point is when cumulative savings equal the cost to refinance.
Break-Even Calculation
Break-Even Months = Closing Costs / Monthly SavingsRates dropped since you bought—see how much you could save monthly and overall.
Compare keeping your current term vs. shortening or extending it.
Lock in a stable rate before your adjustable rate increases.
Generally, if you can lower your rate by 0.75-1% or more, plan to stay in the home past the break-even point, and have good credit for the best rates. Also consider if you want to change your loan term.