π Refinance Breakeven Calculator
Calculate if refinancing your mortgage is worth it: monthly savings, breakeven time, total savings
Refinancing can lower monthly payments, but comes with closing costs. Calculate how much you save per month, how long to break even, and total savings.
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Whether refinancing is worth it depends on three factors: rate difference, remaining balance, and holding period
Generally, if rate difference > 0.5% and you plan to hold past breakeven, refinancing makes sense. All calculations run in-browser.
About Refinance Breakeven Calculator
What is the refinance breakeven point?
The breakeven point is when cumulative monthly savings equal refinancing costs. After this point, you start saving money net of costs.
How much rate reduction makes refinancing worthwhile?
Generally, a rate drop of 0.5% or more with plans to hold past breakeven justifies refinancing. Larger balances mean larger savings.
What fees are included in refinancing?
Common closing costs: appraisal, attorney fees, title insurance, origination fees, prepaid interest. Typically 2-5% of loan amount in the US market.