United States Mortgage Refinance
Compare your current United States mortgage with a refinanced loan to find the break-even.
About United States Mortgage Refinance
Rate-and-term refinance comparison in the United States: it holds the loan balance, compares monthly principal-and-interest at the old vs new rate, and divides closing costs by the monthly savings to find the break-even.
Formula
Break-even
Break-even = closing costs ÷ monthly savings
Worked example
With the default values below, United States Mortgage Refinance returns Monthly Savings of $184.11. Change any input above and every figure here is recalculated in your browser.
Inputs used
- Current loan balanceminimum 0
- 280,000
- Current rateaccepts 0–30
- 7
- New rateaccepts 0–30
- 6
- New termone of 30 years, 15 years
- 30 years
- Closing costsminimum 0
- 8,000
Results
- Monthly Savings
- $184.11
- Current Payment (P+I)
- $1,862.85
- New Payment (P+I)
- $1,678.74
- Closing Costs
- $8,000.00
- Break-even (months)
- 43
Step by step
- 1Values used
- 2Break-even
- 3Monthly Savings= 184.11
- 4Current Payment (P+I)= 1,862.85
- 5New Payment (P+I)= 1,678.74
- 6Closing Costs= 8,000.00
- 7Break-even (months)= 43
Assumptions and limits
- The result is derived only from the 5 inputs listed above. Anything not among them is not part of the calculation.
- In particular, this calculator does not take inflation, tax or compounding frequency into account.
- Figures are rounded for display to 2 decimal places, so totals built from several rounded parts can differ slightly from the unrounded arithmetic.
- Estimate — closing costs vary by lender.
How these calculators are built and tested is described on the Methodology page. If a figure looks wrong, please report it.
Estimate — closing costs vary by lender.
Frequently Asked Questions
Does this include a cash-out option?
No — cash-out refinancing changes the balance and is not covered here.
How accurate is this estimate?
Rates are approximate reference values. Local rates, exemptions and rules can differ, so treat the output as a planning figure only.
Related Calculators
United States specifics
- Currency
- $ USDUS Dollar
- Region
- North America
- Country code
- US
- Amounts look like
- $1,234,567.89
- Dates look like
- Mar 9, 2026
- Units
- imperialWeek starts Sunday
In United States, imperial units are in everyday use.
Results on this page are expressed in USD (US Dollar). Figures are estimates for general planning — confirm current rates and thresholds with the relevant United States authority before relying on them.