Step-by-step instructions
- Enter or select Closing costs.
- Enter or select Old monthly payment.
- Enter or select New monthly payment.
- Tap Calculate.
- Review the result shown directly below the calculator.
Refinance Break-Even Calculator
Estimate months required to recover refinance closing costs.
How to use the Refinance Break-Even Calculator
Estimate months required to recover refinance closing costs.
What the inputs mean
- Closing costs
- Enter the monetary amount shown by the field label.
- Old monthly payment
- Enter the value requested by this field label.
- New monthly payment
- Enter the value requested by this field label.
Formula or calculation method
The calculator applies the standard mathematical relationship for the labeled inputs and returns the computed result automatically.
Example
Try entering realistic values for Closing costs and Old monthly payment, then tap Calculate to see how the result changes.
How to understand the result
Use the result as an estimate based on the values you entered. For planning decisions, double-check that the input units and assumptions match your real situation.
Tip: Keep all values in compatible units and use values from the same time period when the calculator compares two amounts.