When Should You Refinance?
Refinancing involves replacing your existing loan with a new one, typically to take advantage of lower interest rates or to change the loan term. The most critical factor is the Break-Even Point.
If you plan to stay in your home or keep the loan longer than the break-even period (calculated in months), refinancing usually makes financial sense. Our calculator helps you visualize how much you'll save every month and how long it takes to recover the upfront closing costs.