What costs are included?

We include lender points, other closing costs, and whether they’re rolled into the loan or paid at close. Property taxes, insurance, and MI are excluded from the savings to focus on P&I.

How is break-even calculated?

Break-even months = total closing costs ÷ monthly P&I savings. If costs are rolled into the loan, we still show months to recover those costs through payment savings.

Why can total interest be higher even if the payment drops?

Refinancing to a longer term lowers your monthly payment but can increase lifetime interest. The calculator shows interest remaining on your current loan versus interest on the new loan for context.

Refinance Savings & Break-Even Calculator | Home & Mortgage Finder

Calculator

Refinance savings & break-even

Compare your current mortgage to a new loan. Include points, closing costs, roll-in vs. pay-at-close, and cash-out. See monthly savings, break-even, and total interest change.

Refi start month Used to estimate a break-even date.

Remaining term (years)

Current loan balance

Current rate (APR %)

New rate (APR %)

New term (years)

Discount points (% of new loan) 0.00–1.00% typical when buying down rate (varies).

Other closing costs ($)

Roll closing costs into new loan?

Cash-out amount (optional $)

Refi snapshot

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Current P&I

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New P&I

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Monthly savings

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New loan amount—

Cash to close—

Break-even (months)—

Estimated break-even date—

Total interest remaining (current)—

Total interest (new loan)—

Lifetime interest change—

Check today’s rates Start application

Estimates are for planning only and exclude taxes/insurance/MI/escrows and any prepayment penalties. Not a rate lock or commitment to lend.