Refinance Break-even Calculator
Put a new rate and term next to what you owe now, subtract the cost of getting there, and find the month the refinance turns positive.
The loan you have
The loan you are considering
Illustrative — not a quoted rate.
Lender fees, title, appraisal, recording.
Added to the new balance.
Lower each month by
$413
You are back to level at payment 20
A longer new term can lower the payment and still cost more overall. Both numbers are above on purpose.
Starts negative by the amount of the closing costs and climbs by the monthly saving. The marked line is zero — the month the refinance has paid for itself.
Schedule for the new loan
30 years, running totals at each year end.
| Year | Paid in year | Interest | Principal | Balance | Interest to date | Principal to date |
|---|---|---|---|---|---|---|
| Year 1 · 2026 | $27,915 | $23,150 | $4,765 | $383,235 | $23,150 | $4,765 |
| Year 2 · 2027 | $27,915 | $22,857 | $5,059 | $378,177 | $46,007 | $9,823 |
| Year 3 · 2028 | $27,915 | $22,545 | $5,371 | $372,806 | $68,551 | $15,194 |
| Year 4 · 2029 | $27,915 | $22,213 | $5,702 | $367,104 | $90,765 | $20,896 |
| Year 5 · 2030 | $27,915 | $21,862 | $6,053 | $361,051 | $112,626 | $26,949 |
| Year 6 · 2031 | $27,915 | $21,488 | $6,427 | $354,624 | $134,114 | $33,376 |
| Year 7 · 2032 | $27,915 | $21,092 | $6,823 | $347,801 | $155,206 | $40,199 |
| Year 8 · 2033 | $27,915 | $20,671 | $7,244 | $340,557 | $175,877 | $47,443 |
| Year 9 · 2034 | $27,915 | $20,224 | $7,691 | $332,866 | $196,102 | $55,134 |
| Year 10 · 2035 | $27,915 | $19,750 | $8,165 | $324,701 | $215,851 | $63,299 |
| Year 11 · 2036 | $27,915 | $19,246 | $8,669 | $316,032 | $235,098 | $71,968 |
| Year 12 · 2037 | $27,915 | $18,712 | $9,204 | $306,828 | $253,809 | $81,172 |
| Year 13 · 2038 | $27,915 | $18,144 | $9,771 | $297,057 | $271,953 | $90,943 |
| Year 14 · 2039 | $27,915 | $17,541 | $10,374 | $286,683 | $289,494 | $101,317 |
| Year 15 · 2040 | $27,915 | $16,901 | $11,014 | $275,670 | $306,396 | $112,330 |
| Year 16 · 2041 | $27,915 | $16,222 | $11,693 | $263,977 | $322,618 | $124,023 |
| Year 17 · 2042 | $27,915 | $15,501 | $12,414 | $251,562 | $338,119 | $136,438 |
| Year 18 · 2043 | $27,915 | $14,735 | $13,180 | $238,382 | $352,854 | $149,618 |
| Year 19 · 2044 | $27,915 | $13,922 | $13,993 | $224,390 | $366,776 | $163,610 |
| Year 20 · 2045 | $27,915 | $13,059 | $14,856 | $209,534 | $379,835 | $178,466 |
| Year 21 · 2046 | $27,915 | $12,143 | $15,772 | $193,762 | $391,978 | $194,238 |
| Year 22 · 2047 | $27,915 | $11,170 | $16,745 | $177,017 | $403,149 | $210,983 |
| Year 23 · 2048 | $27,915 | $10,137 | $17,778 | $159,239 | $413,286 | $228,761 |
| Year 24 · 2049 | $27,915 | $9,041 | $18,874 | $140,365 | $422,327 | $247,635 |
| Year 25 · 2050 | $27,915 | $7,877 | $20,038 | $120,327 | $430,204 | $267,673 |
| Year 26 · 2051 | $27,915 | $6,641 | $21,274 | $99,053 | $436,845 | $288,947 |
| Year 27 · 2052 | $27,915 | $5,329 | $22,586 | $76,466 | $442,173 | $311,534 |
| Year 28 · 2053 | $27,915 | $3,936 | $23,979 | $52,487 | $446,109 | $335,513 |
| Year 29 · 2054 | $27,915 | $2,457 | $25,458 | $27,029 | $448,566 | $360,971 |
| Year 30 · 2055 | $27,915 | $886 | $27,029 | $0 | $449,452 | $388,000 |
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