Refinance Break-Even Calculator
A refinance pays off when your monthly savings outlast what it costs to close — that’s the break-even point. Enter your current loan and the new terms below to see how many months until the refi is actually saving you money.
See your new payment, how long it takes to earn back your costs, and what a refinance — or a debt consolidation — frees up each month.
Your Current Loan
The mortgage you have today.
Your New Refinance
The loan you're considering.
Break-even timeline
Cumulative cost comparison
Where the lines cross is your break-even point — the month the refinance has paid for itself.
Results are estimates for planning purposes only and are not a commitment to lend. Closing costs and rates shown are estimates; your official rate and APR come from a full application and disclosure. Consolidating shorter-term debt into a 30-year loan can lower your monthly payment while increasing total interest paid unless you continue paying extra. PMI cancellation timing, rate changes, and escrow adjustments are not modeled. Talk with your loan officer for figures specific to your situation.
Like what the numbers say?
A licensed broker can confirm them against real programs — no consultation fees, ever.
To save a clean, complete copy of your calculator results, head back to the page and tap “Download my results” — we’ll unlock a print-ready version with all of your numbers, free.
eurekamortgage.net · 503-420-5434 · info@eurekamortgage.net · No consultation fees, ever
Eureka Mortgage Planning LLC – NMLS #2456819. Equal Housing Lender. Licensed by the Oregon Division of Financial Regulation, Idaho Department of Finance, California Department of Financial Protection and Innovation (CFL), Washington State Department of Financial Institutions, Arizona Department of Insurance and Financial Institutions, Texas Department of Savings and Mortgage Lending, New Mexico Financial Institutions Division, Nevada Division of Mortgage Lending, Florida Office of Financial Regulation, and Tennessee Department of Financial Institutions. This is not a commitment to lend. All loans are subject to underwriting and approval. Terms, rates, and programs are subject to change without notice. Not all loan products are available in all states. For licensing information, go to http://www.nmlsconsumeraccess.org.
Refinance Break-Even Calculator Questions
What is the refinance break-even point?
It is the number of months it takes for your monthly savings to repay the closing costs of the new loan. If you expect to keep the loan longer than that, refinancing can make sense; if you plan to sell or refinance again sooner, it may not.
What costs should I include?
Include lender fees, title and escrow charges, the appraisal, recording fees, and any prepaid interest. Do not count the new escrow deposit or the skipped payment as costs; those are timing effects, not expenses. Your Loan Estimate lists every item once you apply.
Does a lower payment always mean I am saving money?
Not always. Restarting a 30-year term lowers the payment but can add years and total interest. The calculator shows lifetime interest alongside the monthly figure so you can see both effects. A shorter-term refinance sometimes raises the payment and still saves money overall.
When should I consider a refinance?
When the break-even lands comfortably inside the time you expect to stay, when you want to remove mortgage insurance after building equity, or when you need to consolidate higher-cost debt or change loan type. A broker can price several structures side by side so you can compare.