Refinance Break Even Calculator
Strip refinance math down to break-even — closing costs, current P&I, and new P&I. Click any i for detail.
Payment change
Closing costs ($)
i
Closing costs
Lender + third-party costs to recover. |
|
|---|---|
Current P&I ($)
i
Current
Existing monthly principal and interest. |
|
New P&I ($)
i
New
Refinanced monthly principal and interest. |
How to use this calculator
- Enter closing costs.
- Enter old and new P&I.
- Read months to break even.
Results explained
Headline is months to recover closing costs from payment savings alone.
Quick reference: refi break-even
Simple division.
| Item | Detail |
|---|---|
| Savings/mo | Current − new P&I |
| Break-even | Costs ÷ savings |
Lifetime interest and cash-out proceeds are ignored here.
How the estimate is built
Monthly savings = current payment − new payment. Break-even months = ceil(closing costs ÷ savings) when savings > 0.
Example scenario
$4,500 costs with $175/mo savings → about 26 months to break even on out-of-pocket costs.
FAQ
Financed closing costs?
Use the dollar amount you need to recover via payment savings or cash flow.
Break-even vs stay?
Moving before break-even means you may not recoup costs.
Full refi calculator?
Use mortgage refinance for loan amount and interest totals.