Refinancing
When is refinancing worth it?
Break-even (closing costs ÷ monthly savings) under 24–30 months is the rule of thumb — assuming you'll stay in the home longer than break-even. Cash-out and term-change refinances follow different math.
Break-even (closing costs ÷ monthly savings) under 24–30 months is the rule of thumb — assuming you'll stay in the home longer than break-even. Cash-out and term-change refinances follow different math.