Your refinance rate depends on credit, LTV, loan type, and whether you buy points. Compare the new rate against your current one, then weigh closing costs via the break-even to see if it truly saves.
What sets your rate
Pricing improves with higher credit, lower LTV, and primary-residence occupancy. You can buy discount points to lower the rate — worth it only if you’ll keep the loan long enough to recoup the cost.
Break-even beats headline rate
A lower rate isn’t automatically a win. Divide total closing costs by monthly savings to get your break-even months. Staying past it means real savings; selling before it means you lost money. We show this clearly.
Frequently asked questions
Should I buy points?
Only if you’ll keep the loan long enough to recover the up-front cost through the lower payment. We’ll calculate the crossover.
What’s a good break-even?
Shorter is better. Many homeowners target recouping costs within 2–3 years, but it depends on how long you’ll stay.
Can I refinance with no closing costs?
A lender-credit "no-cost" refinance trades a slightly higher rate for lower up-front cost. Sometimes it’s the smarter choice — we compare both.
Save Financial is a California-licensed mortgage brokerage (NMLS #377740, DRE #01875766). Figures are illustrative for 2026 and not an offer of credit.