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Finance Calculators
Refinance Break-even Calculator
Calculate how many months it takes for the monthly savings from refinancing a loan to cover the closing or refinancing costs.
Monthly savings
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Break-even period
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About the Refinance Break-even Calculator
Refinancing any loan — a mortgage, auto loan or personal loan — usually comes with upfront closing or origination costs. The break-even point is when your accumulated monthly savings finally offset those costs.
Formula: Break-even Months = Refinancing Closing Costs ÷ (Current Payment − New Payment)
If you plan to keep the loan (or the underlying asset) shorter than the break-even period, refinancing likely isn't worth the upfront cost — this calculator applies to any type of loan, not just mortgages.
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