A new rate needs a complete comparison.
Explore payment differences and break-even costs before changing a mortgage.
Is it worth breaking my mortgage to get a lower rate?
A useful detail
This model keeps the selected rates constant. Default values are fictional assumptions, not offers or live rates. Read every warning and confirm location, timing, contract terms and any eligibility conditions against the official sources below. No lender decision or recommendation is made.
- Breaking and re-borrowing with a new lender is a refinance or switch; adding costs to the balance means re-qualifying at 6.19%.
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Worksheet: Break your mortgage for a lower rate? Break-even calculator. Rule set recorded 2026-11-01. Interest, fees, eligibility constraints and local rules vary. These references explain the model’s boundaries; they do not establish that an input matches your situation.
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