Refinance Calculator
Do the savings repay the costs before you leave? Thirty seconds, no credit pull.
Your refinance
Break-even updates as you type.
Break-even = closing costs ÷ monthly savings; net over your stay = savings for the months you'll keep the home, minus costs. Compare payments of the same kind (principal & interest against principal & interest) - and remember that "no-cost" refinances price the costs into the rate. Term changes and cash-out change the comparison; a specialist prices those properly. Estimates are educational, not an approval, offer, rate quote or guarantee. See how these figures are calculated. Want the four real reasons to refinance? Read the refinance page.
Have a specialist price it for real
Balance, payment, and goal - a specialist replies within one business day on whether the math works.
Before you run the numbers
What counts as closing costs?
Lender fees, title and settlement, appraisal, recording. Prepaid escrows aren't a refinance cost - exclude them. Your Loan Estimate itemizes it.
Is a "no-cost" refinance really free?
No - the costs move elsewhere in the loan. A trade, not a gift. Run the calculator both ways.
What if I'm changing the term or taking cash out?
Then payment-vs-payment isn't apples to apples. A specialist prepares the real side-by-side.
Prepare the next decision
A lower payment alone does not show when closing costs are recovered. The refinance break-even guide helps compare costs, your expected time in the home and changes in the balance before deciding.