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Should you refinance? Calculate your break-even point and see if refinancing saves money.
Refinancing costs 2-5% of your loan amount. This calculator shows your break-even point—when monthly savings offset closing costs. If you'll stay past break-even, refinancing likely makes sense.
2y 8mo
$1,703
$193
per month
$63,575
over loan term
You'll start saving money after 2y 8mo. If you plan to stay in your home longer than that, refinancing makes financial sense.
Learn more about how we calculate and our editorial standards.