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Mortgage Refinance Break-Even Calculator

How long it takes monthly savings to recover refinance costs.

Compute the number of months it takes for the monthly savings from refinancing into a lower rate to recoup the upfront closing costs of the new loan.

Nadia Almasri By Nadia Almasri
Published Last reviewed 1 min read

Inputs

$
yr
%
%
$

Results

Enter values and click Calculate to see results.
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How to use this calculator

  1. Fill in the inputs above using the units you already have.
  2. Values update automatically as you type — no submit button needed.
  3. Hover any result row for the underlying formula and intermediate values.

Formula

Break-even months = closing costs / (current payment − new payment).

In depth

Compute the number of months it takes for the monthly savings from refinancing into a lower rate to recoup the upfront closing costs of the new loan.