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Refinance Break-Even Calculator

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.

$
Enter a balance greater than 0.
%
Enter a rate between 0 and 25.
Enter a remaining term greater than 0.
$
Enter your current principal & interest payment.
This is an FHA loan (has MIP/PMI)
$

Your New Refinance

The loan you're considering.

%
Enter a rate between 0 and 25.
$
Enter estimated closing costs (0 or more).
Roll closing costs into the loan On: costs are financed into your balance — no cash needed at closing, but you pay interest on them. Off: you pay them out of pocket.
Cash-out refinance
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$
$
$
✓Refinance recommended
Monthly savings
$0
freed up each month
Break-even
—
to recover your closing costs
Enter your numbers to see your results.

Break-even timeline

TodayBreak-evenNew payoff
Current monthly payment (PITI)
$0
New monthly payment (PITI)
$0
Mortgage payment change
$0
Debt payments eliminated
$0
Total savings over the new loan
$0
Interest vs. keep paying the debts Interest on the consolidated balance over the full new term vs. the interest left on those debts today. Negative means the longer term costs more interest unless you pay extra.
$0
New loan amount
$0
Original payoff date
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New payoff date
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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.