Mortgage Refinance Break-Even Calculator
Mortgage Refinance Break-Even
Calculate how many months it takes to recoup refinancing costs
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Formula
Break-Even Months = Closing Costs / (Old Payment - New Payment)
Frequently Asked Questions
How long does it take to break even on a refinance?
It typically takes 2 to 5 years depending on the rate reduction and closing costs.
Is refinancing worth it if I plan to move soon?
If you will move before reaching the break-even point, refinancing may not save you money.