Testing a refinance against time: breakeven, term resets and total cost
Refinancing again later
On the bench
Every refinance has its own costs, so refinancing again later starts a new breakeven clock. If you refinance before reaching breakeven on the last one, you may never recover those earlier costs. Count all the costs you have paid, not just the latest set.
Last reviewed against the primary sources listed below.
Before refinancing again
- Did the last refinance reach breakeven?
- What will this one cost?
- How long will you stay now?
Breakeven questions
Is it bad to refinance twice?
Not always, but each refinance needs its own breakeven to make sense.
Do I lose closing costs if I refinance again?
You do not recover costs from the last refinance unless it reached breakeven.