Refinance break-even calculator.

Break-even is a holding-period test

Divide the refinance cost by the monthly payment reduction. If you expect to sell, refinance again or reset the loan before that point, the headline rate may not recover its costs. A longer new term can lower the payment while increasing total interest, so compare the term as well as the rate.

This tool is a planning estimate. It does not include tax treatment, escrow changes, prepayment penalties, points entered outside costs, cash-to-close, or lender-specific fees. Confirm the Loan Estimate and payoff statement with your lender.