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Refinance break-even calculator
See what refinancing saves after closing costs, and how many months it takes to get your money back.
Estimate, not advice. Use the figures on your Loan Estimate for real quotes.
Common questions
How do I know if refinancing is worth it?
Divide closing costs by your monthly saving to get the break-even, then compare it with how long you will keep the loan.
How much are closing costs on a refinance?
Often 2% to 5% of the loan. Your Loan Estimate lists the real figure.
Does a longer new term cost more?
It can. A lower payment over more years usually means more total interest, which the calculator counts.