Refinance calculator: payment, closing costs, and break-even

Estimate your new refinance payment

Enter your home value, payoff balance, and today's rate to see a full monthly payment estimate that includes principal, interest, taxes, insurance, HOA dues, and mortgage insurance when your loan-to-value requires it.

See total upfront costs before you commit

The simulator itemizes refinance closing costs so nothing is a surprise at signing.

• Lender and origination fees — defaulted to zero points so you start from a no-points quote
• Third-party costs such as appraisal, title, settlement, and recording
• Prepaid interest for the days between closing and your first payment
• Escrow deposits for property taxes and homeowners insurance

Compare current vs. new loan savings

Enter your current payment, or your current rate and balance, to see monthly savings, break-even months, and projected net savings at 1, 3, 5, and 10 years — plus the difference in total interest paid over the life of the loan.

Save and share refinance scenarios

Save multiple refinance scenarios and copy a shareable link with your inputs prefilled, so you can compare options side by side or send them to your loan officer.

Frequently asked questions

How do I calculate my refinance break-even point?

Divide your estimated upfront closing costs by your estimated monthly payment savings. The result is the number of months you need to stay in the loan to recoup the cost of refinancing.

What closing costs come with a refinance?

Typical costs include lender or origination fees, appraisal, title and settlement, recording fees, prepaid interest, and escrow deposits for taxes and insurance.

Can I roll closing costs into the new loan?

Yes. The simulator can add estimated closing costs to your payoff balance and solve for the new loan amount, then price that amount at today's rate so you can compare payments.

Is a refinance worth it for a small rate drop?

It depends on your loan size and costs. A large balance can make even a small rate drop worthwhile, while a small balance may need a bigger drop to break even in a reasonable time.