Refinance Calculator
A new rate against the cost of getting it, and the month it pays back.
Current Loan
New Loan
When the costs are back in your pocket
Below the dashed zero line the refinance has not paid for itself yet.
Monthly Savings
+$331
The schedule on the new loan
Amortisation of the refinanced balance, year-wise or month-wise.
360 payments · principal overtakes interest at payment 223
| Period | Paid | Principal | Interest | Interest to date | Balance |
|---|---|---|---|---|---|
| Year 1 | $27,915.07 | $4,764.69 | $23,150.39 | $23,150 | $383,235 |
| Year 2 | $27,915.07 | $5,058.56 | $22,856.51 | $46,007 | $378,177 |
| Year 3 | $27,915.07 | $5,370.56 | $22,544.51 | $68,551 | $372,806 |
| Year 4 | $27,915.07 | $5,701.81 | $22,213.27 | $90,765 | $367,104 |
| Year 5 | $27,915.07 | $6,053.48 | $21,861.59 | $112,626 | $361,051 |
| Year 6 | $27,915.07 | $6,426.85 | $21,488.23 | $134,114 | $354,624 |
| Year 7 | $27,915.07 | $6,823.24 | $21,091.83 | $155,206 | $347,801 |
| Year 8 | $27,915.07 | $7,244.08 | $20,670.99 | $175,877 | $340,557 |
| Year 9 | $27,915.07 | $7,690.88 | $20,224.19 | $196,102 | $332,866 |
| Year 10 | $27,915.07 | $8,165.24 | $19,749.83 | $215,851 | $324,701 |
| Year 11 | $27,915.07 | $8,668.85 | $19,246.22 | $235,098 | $316,032 |
| Year 12 | $27,915.07 | $9,203.53 | $18,711.54 | $253,809 | $306,828 |
| Year 13 | $27,915.07 | $9,771.18 | $18,143.89 | $271,953 | $297,057 |
| Year 14 | $27,915.07 | $10,373.85 | $17,541.22 | $289,494 | $286,683 |
| Year 15 | $27,915.07 | $11,013.68 | $16,901.39 | $306,396 | $275,670 |
| Year 16 | $27,915.07 | $11,692.98 | $16,222.09 | $322,618 | $263,977 |
| Year 17 | $27,915.07 | $12,414.18 | $15,500.89 | $338,119 | $251,562 |
| Year 18 | $27,915.07 | $13,179.86 | $14,735.21 | $352,854 | $238,382 |
| Year 19 | $27,915.07 | $13,992.77 | $13,922.31 | $366,776 | $224,390 |
| Year 20 | $27,915.07 | $14,855.81 | $13,059.26 | $379,835 | $209,534 |
| Year 21 | $27,915.07 | $15,772.08 | $12,142.99 | $391,978 | $193,762 |
| Year 22 | $27,915.07 | $16,744.87 | $11,170.20 | $403,149 | $177,017 |
| Year 23 | $27,915.07 | $17,777.66 | $10,137.41 | $413,286 | $159,239 |
| Year 24 | $27,915.07 | $18,874.14 | $9,040.93 | $422,327 | $140,365 |
| Year 25 | $27,915.07 | $20,038.26 | $7,876.81 | $430,204 | $120,327 |
| Year 26 | $27,915.07 | $21,274.18 | $6,640.90 | $436,845 | $99,053 |
| Year 27 | $27,915.07 | $22,586.32 | $5,328.75 | $442,173 | $76,466 |
| Year 28 | $27,915.07 | $23,979.40 | $3,935.68 | $446,109 | $52,487 |
| Year 29 | $27,915.07 | $25,458.39 | $2,456.68 | $448,566 | $27,029 |
| Year 30 | $27,915.07 | $27,028.61 | $886.46 | $449,452 | $0 |
What this calculation assumes
- Break-even divides the cost of the refinance by the monthly saving; it ignores what the cash could earn elsewhere.
- Resetting to a fresh term lowers the payment but restarts amortisation, which is why lifetime interest is shown separately.
- Closing costs are yours to enter — a real quote itemises lender fees, title, escrow and prepaids.
- The comparison is on principal and interest; taxes and insurance are unchanged by a refinance.
Every rate, fee and premium on this page is illustrative and set by you, not quoted by us. Nothing here is an offer of credit or a commitment to lend.
Every input you change is written into the address of this page, so the link you copy reopens the calculator exactly as you left it.
When does a refinance break even?
Divide the cost of the refinance by the monthly saving and you get the number of months before you are ahead. If you expect to sell or refinance again before that month arrives, the new rate has not paid for itself.
More guides in the learning centerNumbers are a starting point.
Bring yours to a loan officer and we will tell you which parts hold up and which ones move.
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