It is how long until monthly savings recover upfront refinance costs.

Should I refinance if break-even is long?

Only if you expect to keep the loan past break-even and the overall interest picture improves. This is not personalized advice.

Refinance Calculator

Compare your current loan to a refinance offer — monthly savings, break-even time, and total interest.

Current loan

Remaining balance ($)

Interest rate (%)

Remaining months

Current monthly payment ($)

New loan

New interest rate (%)

New term (years)

Closing costs ($)

Refinance saves money

$15,074.30

Net savings after closing costs

$1,766.95

Current payment

$1,419.47

New payment

$347.48

Monthly savings

12 mo

Break-even

$280,084.40

Interest remaining (current)

$261,010.10

Total interest (new loan)

$4,000.00

Closing costs

Compares remaining interest on your current loan vs total interest on a new loan, minus closing costs. Break-even = closing costs ÷ monthly payment savings.

What the tool does

Refinance Calculator compares your current loan with a refinance offer — monthly savings, break-even time, and total interest impact.

How to use it

Enter your current loan details.
Enter the new loan rate, term, and closing costs.
Review monthly savings and break-even months.

Supported formats

Loan balances, rates, terms, and refinance fees

Privacy & security

This tool runs entirely in your browser. Your data never leaves your device — nothing is uploaded to our servers.

FAQs

What is break-even?: It is how long until monthly savings recover upfront refinance costs.
Should I refinance if break-even is long?: Only if you expect to keep the loan past break-even and the overall interest picture improves. This is not personalized advice.
Is loan data uploaded?: No.