When to Refinance a Mortgage in 2026 — Break-Even Guide

A refinance only “wins” if you keep the loan long enough to recover closing costs. Use break-even months before chasing a lower APR.

Quick decision framework

  1. Estimate monthly payment savings after the new rate.
  2. Add lender fees + third-party closing costs.
  3. Divide costs by monthly savings = break-even months.
  4. Refinance if you will stay past break-even (plus a buffer).

Open refinance break-even calculator

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Educational only — not a lender offer or financial advice. Rates and fees change daily.