$2,719
United States · Refinance
When does switching pay back the fees?
Compare the break-even period with how long you expect to keep the new financing. OwnerCost starts with an editable 36-month planning horizon.
Example with the default inputs. Change any field to recalculate.
Break-even in 23.5 months
Break-even occurs 12.5 months before your stated horizon of 36 months. This compares timing only; it does not show whether switching is right for you.
36 months is the editable OwnerCost planning default, not a lender or regulatory threshold. Replace it with how long you expect to keep this financing before selling or switching again.
$2,442
$277
Switching costs in the United States
Your Loan Estimate lists loan costs, other costs and cash to close. The CFPB suggests getting Loan Estimates from several lenders and comparing costs as well as rates.
Source: CFPB — Loan Estimate explainer; CFPB — Compare and negotiate your loan offers (updated 12 Dec 2024)
Refinance costs vary by lender and loan, so enter the figures from your own Loan Estimate.
Source: CFPB — Compare and negotiate your loan offers (updated 12 Dec 2024)
Checked against these sources on 24 September 2026.
What this estimate includes
- Current and new payments on today's balance over the same remaining term
- The switching costs you enter (fees, penalties, charges)
- Break-even months = switching costs ÷ monthly payment saving
What it does not include
- Penalties or fees you do not enter — none are calculated for you
- Cash-out or extra borrowing
- Changing the loan term or amortization
- Total interest over the life of either loan
- Your horizon: it only positions break-even in time and never changes the break-even figure
How we calculate
Break-even months = refinance costs ÷ (current principal and interest − new principal and interest), both on today's balance and remaining term. Monthly rate = quoted annual rate ÷ 12. Payment = P·i / (1 − (1 + i)^−n) over n months.
Official sources
Rules checked against these sources on 24–25 September 2026.