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Refinance Break-even Calculator
Estimate how long it takes for refi savings to cover refi costs.
Parcel Platform
Mar 4, 2026
Refinance Break-even Calculator
Balance $250,000 • 7.00% → 6.00%
Current Payment (P&I)
$1,699
New Payment (P&I)
$1,499
Monthly Savings
$200
Break-even
25 months
Break-even is refi costs divided by monthly savings. It’s a simple way to decide if a refi is worth it for your hold period.
How this calculator works
Refinancing can lower your payment—but it costs money. This calculator estimates how many months it takes for monthly savings to cover refinance costs.
What it includes
- Current vs new payment estimate
- Monthly savings
- Breakeven months
How to use it
- Enter your current balance and rate (and an estimate of the remaining term).
- Enter the new rate/term you’re considering.
- Enter estimated refinance closing costs.
- Use breakeven months to decide if the refi makes sense for your timeline.
FAQ
What if my payment goes up after refinancing?
A payment can increase if the term resets or costs are rolled in. If payment goes up, breakeven may not exist—double-check assumptions.
Should I include appraisal and lender fees in refi costs?
Yes. Add all expected out-of-pocket costs (or costs rolled into the loan) to get a realistic breakeven estimate.
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