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Refinance Breakeven Calculator

Find the months to recoup closing costs on a rate and term refi.

Loans

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Months to Breakeven
How this number is calculated
Basis
Rate-and-term refinance payback
Formula
months to breakeven = refinance closing costs / monthly payment savings
Includes
  • monthly payment savings
  • refinance closing costs
Excludes
  • cash-out proceeds
  • tax effects
  • changed amortization schedule
  • prepayment penalties
Source
Public calculator inputs
Computed
Live from the values currently entered above
How it works
1

Divide closing costs by monthly savings

2

Result is number of months to break even on the refinance

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Frequently asked questions
How do I decide?
Breakeven under 30 months and a plan to hold past that is usually a green light.