Refinance savings calculator
A refi only makes sense if you stay long enough to recover the closing costs. We compute your monthly savings, your break-even month, and your true lifetime interest delta.
Break-even in 23.8 months.
What this means
If your break-even is shorter than how long you'll stay in the home, the refi pays for itself. A common rule of thumb is to refi only when the break-even is under 36 months, but the right answer depends on your plans.
Watch the lifetime interest delta too. Resetting a 30-year clock can increase total interest even when monthly payments drop. A shorter term often wins on lifetime cost.
What each input does
Current balance and rate establish your existing payment. The new rate, term, closing costs, and any cash-out are rolled into a fresh principal to compute the new payment. Break-even = closing costs ÷ monthly savings.