Mortgage refinance calculator.
Compare replacement loan costs, closing fees and debt remaining at your horizon.
Mortgage refinance inputs
Fees are paid upfront. Horizon savings compare cumulative payments plus outstanding principal on both loans. Break-even is the first non-negative month, not a promise that all later months remain beneficial. Fixed rates; no tax, insurance, cash-out or opportunity-cost effects.
View detailed breakdown
| Month | Net savings including remaining debt |
|---|---|
| 1 | -$5,625.00 |
| 12 | -$1,501.86 |
| 24 | $2,988.89 |
| 36 | $7,466.57 |
| 48 | $11,924.79 |
| 60 | $16,356.39 |
| 72 | $20,753.37 |
| 84 | $25,106.82 |
| 96 | $29,406.81 |
| 108 | $33,642.32 |
| 120 | $37,801.11 |
| 132 | $41,869.66 |
| 144 | $45,832.99 |
| 156 | $49,674.58 |
| 168 | $53,376.21 |
| 180 | $56,917.80 |
| 192 | $60,277.29 |
| 204 | $63,430.38 |
| 216 | $66,350.44 |
| 228 | $69,008.21 |
| 240 | $71,371.64 |
| 252 | $73,405.62 |
| 264 | $75,071.72 |
| 276 | $76,327.91 |
| 288 | $77,128.24 |
| 300 | $77,422.53 |
How this mortgage refinance calculator works
A lower payment can come from a longer term as well as a lower rate. This comparison adds cumulative payments and remaining principal at the same future month for both loans, including upfront or financed fees. That gives a nominal cost comparison beyond monthly cash flow.
A worked example
If both loan terms and rates are identical and 6,000 of fees are paid upfront, refinancing costs 6,000 more at every comparison date. A lower payment alone does not prove savings.
What does break-even mean here?
It is the first month when payments plus remaining debt make the replacement no more costly. Different term lengths can change later results, so also check your actual horizon and lifetime savings.
References and further reading
Calculations run on your device. Review your results before exporting or sharing them.