Refinance Break-Even Rate Calculator

What interest rate would make refinancing worthwhile?

Current mortgage details

Enter your mortgage details and we’ll calculate the benchmark interest rate that will make refinancing a clear win.

Original loan amount

We use this to estimate your remaining balance and projected monthly savings.

Original mortgage term

Tells us how far you are into the loan so we can estimate your balance.

Original interest rate

Sharing your current rate helps us benchmark savings.

Origination month and year

MM/YYYY

Pinpoints how many payments you have made to calculate your remaining balance.

Estimated sell year (optional)

YYYY

Optional: we check whether refinancing pays off before the year you plan to sell.

Refinance scenario

Adjust the assumptions for your refinance. We'll calculate the highest interest rate that still results in lower costs.

New mortgage term

Estimated closing costs

Closing costs are usually 2%–6% of the loan. Add your mortgage details so we can estimate the dollar range.

Please note that this calculator is intended for general planning purposes only. To best understand your situation and options, please consult with a financial adviser or with a loan officer who will have the most up to date and accurate information. If you have general questions or need help, reach out to our support.

What this calculator considers

We use the same methodology that powers our refinance analysis report. A rate is marked as worthwhile only if all of the following are true:

You break even on closing costs before you sell or finish the loan.
The new monthly payment is lower than your current one.
You spend less in total when accounting for principal, interest, and closing costs.