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Mortgage Refinance Calculator

Should you refinance? See your monthly savings, break-even point, and lifetime savings from refinancing your mortgage.

Current Mortgage
$
%
years
New Mortgage
%
years
$
years
📊
Calculating...
⏱️
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Break-even point — how long until refinancing pays off
CategoryCurrentNewDifference
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Frequently asked questions

When does refinancing make sense?
Refinancing generally makes sense when you can lower your rate by at least 0.5-1%, you plan to stay in the home long enough to recoup closing costs, and your credit score qualifies you for a competitive rate.
What is the break-even point?
The break-even point is how many months it takes for your monthly savings to equal your closing costs. If you sell or refinance again before this point, you won't have saved money by refinancing.
Is this calculator free?
Yes — completely free with no account or signup required.