See exactly when a refi starts saving you money
Enter your closing costs and monthly savings to find the exact month a refinance pays for itself — plus how much you save 5, 10, and 15 years out.
Your refinance
Break-even & net savings
Net savings over time
| Horizon | Gross savings | Net of closing costs |
|---|---|---|
| 2 years | $5,280 | -$1,220 |
| 5 years | $13,200 | $6,700 |
| 10 years | $26,400 | $19,900 |
| 15 years | $39,600 | $33,100 |
Assumes monthly savings remain constant and no early payoff. Lifetime interest savings may differ. Estimates only based on national averages. Always confirm with a licensed lender.
Find your break-even point
Enter your closing costs and monthly savings to see how many months until refinancing actually starts saving you money.
See if refinancing is worth it overall
Before running break-even, compare your current loan to a new rate and term to size up total monthly and lifetime savings.
Depends on how long you will stay
Industry shorthand: break-even should be less than your expected time in the home. If you plan to stay 7 years, a 4-year break-even is safe; a 6-year break-even cuts it close.
Under 24 months: generally great.
2-4 years: good if you plan to stay.
Over 5 years: be cautious — life happens.
Two inputs, instant answer
Enter the total refinance closing costs (origination, appraisal, title, recording, and points).
Enter your expected monthly savings (old payment – new payment on P&I only).
The break-even month and multi-year savings are calculated instantly.
Related tools
Keep planning with our other free calculators and guides.
Refinance calculator
Full old-vs-new refi comparison.
Mortgage calculator
Full PITI with taxes and insurance.
Extra payment calculator
Could extra payments beat a refi?
PMI calculator
Will a refi eliminate your PMI?
Amortization calculator
See the new schedule in detail.
Affordability calculator
How much house really fits your budget.