Refinance break-even calculator

This calculator estimates when the monthly principal-and-interest savings you enter would add up to the closing costs you enter. It assumes those monthly savings stay constant and does not compare total borrowing costs or remaining loan balances.

The Total Closing Costs line on your Loan Estimate. No Loan Estimate yet? Use the total closing-cost figure a lender has quoted you in writing.

Subtract the new principal-and-interest payment on your Loan Estimate from the current principal-and-interest payment on your mortgage statement. Exclude taxes, insurance, and other charges from both figures. A negative number is allowed and means the new payment is higher.

Years until you plan to sell, pay off, or refinance again. Whole or half years.

What this calculation leaves out

This calculation does not distinguish costs paid at closing from costs financed into the new loan. It does not separately calculate interest on financed costs or compare remaining loan balances.

A longer term can lower the payment while raising the total interest paid over the life of the loan. Break-even here measures monthly cash flow, not lifetime cost.

The result depends entirely on the two numbers you typed. Your Loan Estimate provides estimated closing costs and the new principal-and-interest payment; your current mortgage statement provides the current principal-and-interest payment.

No lender fees. Zero points required.* Third-party and prepaid costs (appraisal, credit, title, recording, and interest from closing to your first payment) still apply.

See your options with Athena. A soft credit pull to check rates and terms will not affect your credit score; continuing the application means a full credit report is requested from one or more consumer reporting agencies, which is a hard pull and may affect your credit.

See my options

*Athena charges no origination, application, processing, underwriting, or rate-lock fee. The rate we quote requires no discount points; you may choose to buy your rate down for an additional charge. You'll still pay third-party and prepaid closing costs — appraisal, credit, title, recording, and interest from closing to your first payment. Your rate depends on credit, loan amount, LTV, DTI, and market conditions at lock.

This calculator uses only the numbers you enter. It does not quote a rate, payment, or closing cost, and it is not a commitment to lend. All loans are subject to credit approval, verification, and underwriting. Refinancing may result in higher total finance charges over the life of the loan.

NMLS #2771910. Equal Housing Lender.