Mortgage refinance planning
Mortgage Refinance Break-Even Calculator
Compare the payment relief, upfront costs, remaining balances, and longer-term cost of replacing a current fixed-rate mortgage with a new fixed-rate loan.
Results will appear after valid values are entered.
Payment and cash-flow break-even
Cash-flow break-even asks how long monthly principal-and- interest savings would take to recover the costs paid in cash. Financed costs stay in the new balance and are handled separately in the holding-period and lifetime comparisons.
The term comparison will appear with valid inputs.
Interest and lifetime cost
A lower rate can reduce interest while a longer term can add years of payments. Lifetime cost includes all modeled future principal-and-interest payments plus costs paid upfront.
What if you keep the loan for a few more years?
Each card compares total modeled payments made through that point, the balance still owed, and upfront refinance costs. This is useful when you may sell, move, or refinance again before either mortgage reaches final payoff.
What this estimate leaves out
The model compares a rate-and-term refinance using fixed-rate principal and interest. It does not estimate qualification, property value, cash-out proceeds, taxes, insurance, mortgage insurance, escrow changes, tax effects, opportunity cost, future refinancing, or whether a quoted fee is refundable or would have been paid anyway.
Use a lender's Loan Estimate and Closing Disclosure for actual loan terms and costs. If the current loan has a prepayment penalty, include the amount you expect to pay in the upfront refinance-cost field.
For educational purposes only. Results are estimates. Review the Calculator Methodology for shared assumptions, rounding, payoff timing, and privacy-conscious analytics details.