When does a refinance pay for itself?
A lower rate only helps if the monthly savings outrun the closing costs. Enter your current loan and the refinance you're considering — this shows your new payment, what you'd save each month, and exactly how many months it takes for the refinance to pay for itself. Move the sliders and watch it update instantly.
Your numbers
Defaults show a typical refinance scenario — adjust anything to match your situation.
Your current loan
The new loan
Your breakeven point
Payments show principal & interest only. The new loan is figured on the same balance you owe today.
Closing costs ÷ monthly savings.
- Current monthly payment Principal & interest at your current rate $0
- New monthly payment Principal & interest at the new rate $0
- Monthly savings What you'd keep each month with the new loan $0
- Total interest — current loan Interest over the rest of your current loan $0
- Total interest — new loan Interest over the full new loan term $0
- Lifetime interest difference New loan's total interest vs. keeping your current loan $0
Thinking about a refinance?
Rates and closing costs vary a lot by lender. Get a no-pressure comparison built on your actual loan — your real breakeven, not a guess. No obligation, just straight answers.
Chris Borg · (503) 481-1369 · chris.borg@edgehomefinance.com
This calculator is an educational estimate only — not a loan offer, rate quote, or financial advice. It figures the new loan on your current balance and assumes the closing costs shown are paid out of pocket; rolling costs into the loan, taxes, insurance, and your actual rate and terms will change the numbers. Payments show principal and interest only. Talk with Chris for a breakeven based on your specific loan and a current rate quote.