Should I Refinance Calculator
Should I refinance calculator — compare old and new payments to see your break-even point, free.
Runs in your browser — your loan balance and payment figures stay on this pageTry: Total closing costs=5000, Current monthly payment=1900, New monthly payment=1600 → $300, 16.67 mo, 1.39 yr, $108,000
How to use
Enter your refinance closing costs and your current versus new monthly payment. The calculator shows your break-even point so you can judge if refinancing makes sense.
FAQ
When does refinancing make sense?
When your break-even point is well before you plan to sell or refinance again, and the lower payment frees cash you need.
What if I plan to move soon?
Then a long break-even period may mean you never recover the costs. A no-closing-cost refinance trades fees for a higher rate instead.