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Real Estate
Refinance Break-Even
Break-even point when changing rate
Runs locally in your browser
Parameters
Results
- Savings/mo.
- $188
- Break-even
- 18.6 mo.
- New payment
- $1,770
- Old payment
- $1,958
How it works
Compare mortgage payments at old vs. new rate and find refinance break-even time.
Who it's for: Homeowners deciding whether refinancing closing costs are worth the savings.
Calculates monthly payment savings from a lower rate.
Break-even = closing costs ÷ monthly savings.
Uses remaining balance and term for both scenarios.
How to use
- Enter Remaining balance, Current rate, New rate, Remaining term (mo.), and Closing costs.
- Read Savings/mo., Break-even (months), and new vs. old payment.