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Refinance Calculator - Is It Worth It? (2026)
Compare your current mortgage with a refinance: new payment, monthly savings, break-even months and interest saved. Free refinance calculator.
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Your inputs
Refinance when rates drop and you will stay past the break-even point.
Your result
Monthly savings
$268
Break-even
22 months
Old payment
$1,767
New payment
$1,499
Interest saved
$82,000
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FAQ
When does refinancing make sense?
When rates drop meaningfully (usually 0.75–1%+) and you plan to stay past the break-even point.
What is the break-even period?
Closing costs ÷ monthly savings. If you save $200/month and costs are $4,000, break-even is 20 months.
What does a refi cost?
Closing costs typically run 2–5% of the loan, including origination, appraisal, title and fees.
Should I shorten the term?
Going from 30 to 15 years raises payments but saves tens of thousands in interest — good if you can afford it.
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