Is refinancing worth the cost? Find your break-even.

A lower rate only helps if you stay long enough to earn back the costs. Enter your loan and a quote to see the monthly savings and the break-even point.

Your numbers are only the start

Fill in the form to see your results here. When you are ready, send us the address and we will turn the estimate into a real offer or a plain-English plan, at no cost.

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How break-even works

The new payment comes from your balance, the new rate and the new term. The monthly savings is the old payment minus the new one. The break-even is the costs divided by that savings, in months. If you sell or refinance again before then, the refinance does not pay for itself.

Things the tool cannot see

Taxes and insurance, which are not part of principal and interest.
Interest you already paid, and the effect of restarting a 30-year term.
Cash-out refinances and loan fees that change the balance.

Before you refinance

Ask for a written estimate, so you can compare costs.
Ask whether any fees can be rolled into the loan, and how that changes the balance.
Check your ratios first.

Questions about this tool

Is a lower rate always better?

Not if costs are high or you will move soon. Break-even shows how long it takes to earn the costs back.

Does this include escrow?

No. It uses principal and interest only, so compare the same part of your payment.

What if the new payment is not lower?

Then there is no monthly savings to earn back. A shorter term can still make sense if you want to pay off the loan sooner.

For lenders and counselors

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Not legal, tax or financial advice

These tools give general estimates from the numbers you enter. They do not replace advice from a Texas attorney, a CPA or a licensed lender. Captain Saves A Home buys houses, so we have an interest in a sale, and we will tell you honestly when another option fits better.