Compare mortgage payments, total interest, and the cash-flow break-even from user-entered refinance terms and upfront costs. Use the example values or enter your own numbers to explore an estimate.
Currency formatting only—not an exchange-rate conversion. No country-specific tax or government rules are applied.
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The PDF includes active input values and option labels, results, sources, model assumptions, and the schedule when available. Schedule periods follow the model: years, months, or actual payments.
Links include eligible rate, term or frequency assumptions only. Dollar amounts are never included. Recipients must enter their own amounts; the link will not reproduce your full financial scenario.
Calculate fixed monthly payments using the selected nominal compounding convention, with financed costs added to the new loan. Compare cumulative payments and cumulative interest plus fees over the common holding horizon. Stop each loan at payoff and cap its final payment. Evaluate cash-flow and financing-cost crossovers separately, including unequal amortizations and remaining payoff balances.
Source/rule review year: Not applicable — general mathematical model.
For a fictional $300,000 remaining balance, compare 6.5% over 20 remaining years with a new 5.5% loan over 20 years and $5,000 in upfront closing costs.
| Part | Item | Value |
|---|---|---|
| Input | Remaining mortgage balance | USD 300,000.00 |
| Input | Current mortgage rate | 6.5 % |
| Input | Nominal mortgage rate compounding convention | Monthly nominal compounding (rate ÷ 12 for monthly payments) |
| Input | Remaining current loan term | 20 years |
| Input | New mortgage rate | 5.5 % |
| Input | New loan term | 20 years |
| Input | Upfront refinance closing costs | USD 5,000.00 |
| Input | Additional costs added to new loan | USD 0.00 |
| Input | Expected years before selling or refinancing | 5 years |
| Input | Monthly property taxes | USD 0.00 |
| Input | Monthly home insurance | USD 0.00 |
| Input | Monthly condo or HOA fees | USD 0.00 |
| Input | Other monthly ownership costs | USD 0.00 |
| Result | Monthly payment savings | US$173.06 |
| Result | Cash-flow break-even | 2 yr 5 mo |
| Result | Total financing-cost break-even | 1 yr 9 mo |
| Result | Current loan total interest | US$236,812.66 |
| Result | Refinanced loan total interest | US$195,278.86 |
| Result | Upfront closing costs | US$5,000.00 |
| Result | Financed refinance costs | US$0.00 |
| Result | Current monthly payment | US$2,236.72 |
| Result | New monthly payment | US$2,063.66 |
| Result | Cost savings at holding horizon (including payoff balances) | US$9,586.41 |
| Result | Lifetime interest and fee savings | US$36,533.80 |
| Result | Monthly principal and interest (loan only) | US$2,063.66 |
| Result | Monthly property taxes | US$0.00 |
| Result | Monthly home insurance | US$0.00 |
| Result | Monthly condo or HOA fees | US$0.00 |
| Result | Other monthly ownership costs | US$0.00 |
| Result | Entered monthly ownership costs | US$0.00 |
| Result | Monthly housing outflow before extra principal | US$2,063.66 |
| Result | Previous monthly housing outflow | US$2,236.72 |
The form's payment comparison holds the entered term lengths and costs in view. Cash-flow break-even and total-financing-cost break-even answer different questions; neither alone captures every reason a borrower might refinance.