Refinance Break-Even Calculator
See how many months it takes for monthly savings to repay your prepayment penalty and refinancing costs.
Break-even
33.7 months (2.8 years)
Saving $297/mo after refinance.
A general rule: refinance only if you'll stay in the home (or hold the mortgage) longer than the break-even period. Get a quoted penalty from your lender — IRD calculations vary.
Today's Mortgage Rates from Lenders
This calculator works with whatever rate you enter. Compare it with the rates lenders are offering right now, fixed and variable, by term. Change the price, down payment or location to match your purchase.
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