Mortgage Refinance Break-Even Calculator

How to use this calculator

Enter current balance, current rate, proposed rate, and closing costs. The tool compares 30-year principal-and-interest payments and estimates months to recover closing costs.

When this calculator is useful

• Evaluating a refinance quote
• Comparing rate reduction with fees
• Checking how long you may need to keep the loan

Important limitations

A real refinance changes loan term, amortization, taxes, insurance, cash-to-close, and total lifetime interest. Compare official Loan Estimates, not only monthly payment.

For best results, run at least three cases: a conservative case, a middle case, and a stretch case. If a small change in inputs creates a big change in the answer, that is a sign the decision may be sensitive to rates, fees, timing, or market performance.