{"id":26,"date":"2026-09-04T09:00:00","date_gmt":"2026-09-04T09:00:00","guid":{"rendered":"https:\/\/demos.canvaswp.com\/mortgage\/2026\/09\/04\/when-does-refinancing-pay-off\/"},"modified":"2026-09-04T09:00:00","modified_gmt":"2026-09-04T09:00:00","slug":"when-does-refinancing-pay-off","status":"publish","type":"post","link":"https:\/\/demos.canvaswp.com\/mortgage\/2026\/09\/04\/when-does-refinancing-pay-off\/","title":{"rendered":"When Does Refinancing Pay Off?"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Refinancing replaces your current loan with a new one, and the new loan has closing costs. The savings only start once the lower payments have covered those costs.<\/p>\n\n\n<h2 class=\"wp-block-heading\">Find Your Break-Even Month<\/h2>\n\n\n<p class=\"wp-block-paragraph\">Divide the total closing costs by the amount your monthly payment falls. If a refinance costs $4,500 and saves you $250 a month, you break even in month 18.<\/p>\n\n\n<h2 class=\"wp-block-heading\">Questions to Ask First<\/h2>\n\n\n<ul class=\"wp-block-list\">\n<li>How long do you expect to keep the home?<\/li>\n\n\n<li>Does the new loan restart a 30-year term, and do you want it to?<\/li>\n\n\n<li>Would a shorter term save more than a lower rate?<\/li>\n\n<\/ul>\n\n\n<p class=\"wp-block-paragraph\">Your loan officer can run the numbers on your current loan and show the break-even month for each option before you commit.<\/p>\n\n","protected":false},"excerpt":{"rendered":"<p>A lower rate only helps once the monthly savings have paid back the cost of the new loan. That month is your break-even point, and it is easy to work out.<\/p>\n","protected":false},"author":103,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[10,11],"class_list":["post-26","post","type-post","status-publish","format-standard","hentry","category-refinancing","tag-closing-costs","tag-refinance"],"_links":{"self":[{"href":"https:\/\/demos.canvaswp.com\/mortgage\/wp-json\/wp\/v2\/posts\/26","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/demos.canvaswp.com\/mortgage\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/demos.canvaswp.com\/mortgage\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/demos.canvaswp.com\/mortgage\/wp-json\/wp\/v2\/users\/103"}],"replies":[{"embeddable":true,"href":"https:\/\/demos.canvaswp.com\/mortgage\/wp-json\/wp\/v2\/comments?post=26"}],"version-history":[{"count":0,"href":"https:\/\/demos.canvaswp.com\/mortgage\/wp-json\/wp\/v2\/posts\/26\/revisions"}],"wp:attachment":[{"href":"https:\/\/demos.canvaswp.com\/mortgage\/wp-json\/wp\/v2\/media?parent=26"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/demos.canvaswp.com\/mortgage\/wp-json\/wp\/v2\/categories?post=26"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/demos.canvaswp.com\/mortgage\/wp-json\/wp\/v2\/tags?post=26"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}