MAKE THE NUMBERS YOURS

Refinance break-even calculator

Compare your existing mortgage with a proposed refinance, including fees, the remaining term, payment differences and interest.

Does refinancing fit your numbers?

Compare your remaining mortgage with a new loan. Enter actual balances and fees when available; starting values are illustrative.

Current mortgage balance ($)

Current interest rate (%)

Remaining payments (months)Use the remaining term, not your original loan term.

Proposed interest rate (%)

Proposed loan term (years)

Upfront loan fees after credits ($)Fees paid in cash. Exclude refundable escrow deposits and recurring taxes / insurance.

Loan fees added to new balance ($)Do not enter the same fees in both fee fields.

Additional cash out ($)Leave at zero for an equal-balance comparison, before fees.

Current estimated P&I / month

$2,827.12

Based on 300 remaining payments.

New estimated P&I / month

$2,528.27

$400,000 new balance · 360 payments.

Monthly P&I reduction

$298.84

Simple upfront-fee recovery

17 months

Upfront fees ÷ monthly P&I reduction.

New rate with your remaining term

$2,700.83

Monthly P&I if you keep a 300-month payoff schedule.

Interest left on current mortgage

$448,135

Interest over the new mortgage term

$510,178

New interest + entered loan fees

$515,178

Includes upfront and financed fees; excludes repaid principal.

Your proposed term adds 60 payments. A lower monthly payment can result from spreading repayment over more years. Compare the same-term payment and total interest before deciding.

This comparison assumes fully amortizing fixed-rate loans with no extra principal payments. It excludes taxes, insurance, mortgage insurance, tax effects, prepayment penalties and the time value of money. Simple fee recovery is a cash-flow measure, not a full economic break-even analysis. Compare balances at the date you expect to sell or refinance again. Verify your existing P&I on your statement and review a Loan Estimate before deciding.

Compare my refinance options

Learn more: CFPB: how refinance closing costs are paid · CFPB: mortgage amortization.

Refinance break-even calculator

Does refinancing fit your numbers?

Make the market personal.