TREADSTONE LAW · ONTARIO · DIGITAL LEGAL SERVICES · EST. MMXXI ·TSL
The Mortgage CentreTool

Refinance break-even

Use this when comparing a refinance's penalty and costs against the months of savings it would take to recover them.

Worked example. Refinancing $420,000 from 5.34% to 4.19% over 22 years cuts the payment from $2,693.40 to $2,429.61 a month; a $14,400 penalty and costs are recovered in about 55 months.
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