What if I plan to move soon?

If you move before break‑even, the refi may not pay off.

Do I need to reset to 30 years?

Not necessarily. Consider matching remaining term to keep total interest lower.

Compare old vs. new payments, factor closing costs, and see how long to break even.

Updated 2025-08-09

Break‑even ≈ closing costs / monthly savings, where monthly savings is the old payment minus the new payment.

Horizon: refinance only if you’ll stay beyond break‑even.
Fees: shop lenders; costs vary.
Term reset: stretching to 30 years lowers the payment but can increase total interest paid.

Enter balances, rates, closing costs, and years remaining to see months to break even.

What if I plan to move soon?: If you move before break‑even, the refi may not pay off.
Do I need to reset to 30 years?: Not necessarily. Consider matching remaining term to keep total interest lower.

How many months to recover closing costs with a lower rate.

Estimate max home price from income, debts, and down payment.

Monthly payment with APR and term.