Refinance Break Even
Calculator

Monthly saving

$182.26

Results

Monthly saving: $182.26
Break-even (months): 19.203528 mo
Interest saved: $40,241.96
New monthly payment: $1,308.89

Balance and interest over time

Remaining balance
Interest paid to date

Payment schedule


1	1,308.89	492.22	816.67	199,507.78
2	1,308.89	494.23	814.66	199,013.55
3	1,308.89	496.25	812.64	198,517.30
4	1,308.89	498.28	810.61	198,019.02
5	1,308.89	500.31	808.58	197,518.71
6	1,308.89	502.35	806.53	197,016.36
7	1,308.89	504.40	804.48	196,511.95
8	1,308.89	506.46	802.42	196,005.49
9	1,308.89	508.53	800.36	195,496.96
10	1,308.89	510.61	798.28	194,986.35
11	1,308.89	512.69	796.19	194,473.65
12	1,308.89	514.79	794.10	193,958.87
13	1,308.89	516.89	792.00	193,441.98
14	1,308.89	519.00	789.89	192,922.98
15	1,308.89	521.12	787.77	192,401.86
16	1,308.89	523.25	785.64	191,878.61
17	1,308.89	525.38	783.50	191,353.23
18	1,308.89	527.53	781.36	190,825.70
19	1,308.89	529.68	779.20	190,296.02
20	1,308.89	531.85	777.04	189,764.17
21	1,308.89	534.02	774.87	189,230.15
22	1,308.89	536.20	772.69	188,693.95
23	1,308.89	538.39	770.50	188,155.57
24	1,308.89	540.59	768.30	187,614.98
25	1,308.89	542.79	766.09	187,072.19
26	1,308.89	545.01	763.88	186,527.18
27	1,308.89	547.24	761.65	185,979.94
28	1,308.89	549.47	759.42	185,430.47
29	1,308.89	551.71	757.17	184,878.76
30	1,308.89	553.97	754.92	184,324.79
31	1,308.89	556.23	752.66	183,768.56
32	1,308.89	558.50	750.39	183,210.06
33	1,308.89	560.78	748.11	182,649.28
34	1,308.89	563.07	745.82	182,086.21
35	1,308.89	565.37	743.52	181,520.84
36	1,308.89	567.68	741.21	180,953.16
37	1,308.89	570.00	738.89	180,383.17
38	1,308.89	572.32	736.56	179,810.84
39	1,308.89	574.66	734.23	179,236.18
40	1,308.89	577.01	731.88	178,659.18
41	1,308.89	579.36	729.52	178,079.81
42	1,308.89	581.73	727.16	177,498.08
43	1,308.89	584.10	724.78	176,913.98
44	1,308.89	586.49	722.40	176,327.49
45	1,308.89	588.88	720.00	175,738.61
46	1,308.89	591.29	717.60	175,147.32
47	1,308.89	593.70	715.18	174,553.61
48	1,308.89	596.13	712.76	173,957.49
49	1,308.89	598.56	710.33	173,358.93
50	1,308.89	601.01	707.88	172,757.92
51	1,308.89	603.46	705.43	172,154.46
52	1,308.89	605.92	702.96	171,548.54
53	1,308.89	608.40	700.49	170,940.14
54	1,308.89	610.88	698.01	170,329.25
55	1,308.89	613.38	695.51	169,715.88
56	1,308.89	615.88	693.01	169,100.00
57	1,308.89	618.40	690.49	168,481.60
58	1,308.89	620.92	687.97	167,860.68
59	1,308.89	623.46	685.43	167,237.22
60	1,308.89	626.00	682.89	166,611.22
61	1,308.89	628.56	680.33	165,982.66
62	1,308.89	631.13	677.76	165,351.53
63	1,308.89	633.70	675.19	164,717.83
64	1,308.89	636.29	672.60	164,081.54
65	1,308.89	638.89	670.00	163,442.65
66	1,308.89	641.50	667.39	162,801.16
67	1,308.89	644.12	664.77	162,157.04
68	1,308.89	646.75	662.14	161,510.29
69	1,308.89	649.39	659.50	160,860.90
70	1,308.89	652.04	656.85	160,208.86
71	1,308.89	654.70	654.19	159,554.16
72	1,308.89	657.38	651.51	158,896.79
73	1,308.89	660.06	648.83	158,236.73
74	1,308.89	662.75	646.13	157,573.97
75	1,308.89	665.46	643.43	156,908.51
76	1,308.89	668.18	640.71	156,240.33
77	1,308.89	670.91	637.98	155,569.43
78	1,308.89	673.65	635.24	154,895.78
79	1,308.89	676.40	632.49	154,219.38
80	1,308.89	679.16	629.73	153,540.22
81	1,308.89	681.93	626.96	152,858.29
82	1,308.89	684.72	624.17	152,173.58
83	1,308.89	687.51	621.38	151,486.06
84	1,308.89	690.32	618.57	150,795.74
85	1,308.89	693.14	615.75	150,102.60
86	1,308.89	695.97	612.92	149,406.64
87	1,308.89	698.81	610.08	148,707.82
88	1,308.89	701.66	607.22	148,006.16
89	1,308.89	704.53	604.36	147,301.63
90	1,308.89	707.41	601.48	146,594.22
91	1,308.89	710.30	598.59	145,883.93
92	1,308.89	713.20	595.69	145,170.73
93	1,308.89	716.11	592.78	144,454.63
94	1,308.89	719.03	589.86	143,735.59
95	1,308.89	721.97	586.92	143,013.63
96	1,308.89	724.92	583.97	142,288.71
97	1,308.89	727.88	581.01	141,560.83
98	1,308.89	730.85	578.04	140,829.99
99	1,308.89	733.83	575.06	140,096.15
100	1,308.89	736.83	572.06	139,359.33
101	1,308.89	739.84	569.05	138,619.49
102	1,308.89	742.86	566.03	137,876.63
103	1,308.89	745.89	563.00	137,130.74
104	1,308.89	748.94	559.95	136,381.80
105	1,308.89	752.00	556.89	135,629.80
106	1,308.89	755.07	553.82	134,874.74
107	1,308.89	758.15	550.74	134,116.59
108	1,308.89	761.25	547.64	133,355.34
109	1,308.89	764.35	544.53	132,590.99
110	1,308.89	767.47	541.41	131,823.51
111	1,308.89	770.61	538.28	131,052.91
112	1,308.89	773.76	535.13	130,279.15
113	1,308.89	776.91	531.97	129,502.23
114	1,308.89	780.09	528.80	128,722.15
115	1,308.89	783.27	525.62	127,938.87
116	1,308.89	786.47	522.42	127,152.40
117	1,308.89	789.68	519.21	126,362.72
118	1,308.89	792.91	515.98	125,569.81
119	1,308.89	796.14	512.74	124,773.67
120	1,308.89	799.40	509.49	123,974.27
121	1,308.89	802.66	506.23	123,171.61
122	1,308.89	805.94	502.95	122,365.68
123	1,308.89	809.23	499.66	121,556.45
124	1,308.89	812.53	496.36	120,743.92
125	1,308.89	815.85	493.04	119,928.07
126	1,308.89	819.18	489.71	119,108.88
127	1,308.89	822.53	486.36	118,286.36
128	1,308.89	825.89	483.00	117,460.47
129	1,308.89	829.26	479.63	116,631.21
130	1,308.89	832.64	476.24	115,798.57
131	1,308.89	836.04	472.84	114,962.53
132	1,308.89	839.46	469.43	114,123.07
133	1,308.89	842.89	466.00	113,280.18
134	1,308.89	846.33	462.56	112,433.86
135	1,308.89	849.78	459.10	111,584.07
136	1,308.89	853.25	455.63	110,730.82
137	1,308.89	856.74	452.15	109,874.08
138	1,308.89	860.24	448.65	109,013.85
139	1,308.89	863.75	445.14	108,150.10
140	1,308.89	867.28	441.61	107,282.82
141	1,308.89	870.82	438.07	106,412.01
142	1,308.89	874.37	434.52	105,537.63
143	1,308.89	877.94	430.95	104,659.69
144	1,308.89	881.53	427.36	103,778.16
145	1,308.89	885.13	423.76	102,893.04
146	1,308.89	888.74	420.15	102,004.29
147	1,308.89	892.37	416.52	101,111.92
148	1,308.89	896.01	412.87	100,215.91
149	1,308.89	899.67	409.21	99,316.24
150	1,308.89	903.35	405.54	98,412.89
151	1,308.89	907.04	401.85	97,505.85
152	1,308.89	910.74	398.15	96,595.11
153	1,308.89	914.46	394.43	95,680.66
154	1,308.89	918.19	390.70	94,762.46
155	1,308.89	921.94	386.95	93,840.52
156	1,308.89	925.71	383.18	92,914.82
157	1,308.89	929.49	379.40	91,985.33
158	1,308.89	933.28	375.61	91,052.05
159	1,308.89	937.09	371.80	90,114.96
160	1,308.89	940.92	367.97	89,174.04
161	1,308.89	944.76	364.13	88,229.28
162	1,308.89	948.62	360.27	87,280.66
163	1,308.89	952.49	356.40	86,328.17
164	1,308.89	956.38	352.51	85,371.79
165	1,308.89	960.29	348.60	84,411.50
166	1,308.89	964.21	344.68	83,447.29
167	1,308.89	968.14	340.74	82,479.15
168	1,308.89	972.10	336.79	81,507.05
169	1,308.89	976.07	332.82	80,530.98
170	1,308.89	980.05	328.83	79,550.93
171	1,308.89	984.06	324.83	78,566.87
172	1,308.89	988.07	320.81	77,578.80
173	1,308.89	992.11	316.78	76,586.69
174	1,308.89	996.16	312.73	75,590.53
175	1,308.89	1,000.23	308.66	74,590.31
176	1,308.89	1,004.31	304.58	73,585.99
177	1,308.89	1,008.41	300.48	72,577.58
178	1,308.89	1,012.53	296.36	71,565.05
179	1,308.89	1,016.66	292.22	70,548.39
180	1,308.89	1,020.82	288.07	69,527.57
181	1,308.89	1,024.98	283.90	68,502.59
182	1,308.89	1,029.17	279.72	67,473.42
183	1,308.89	1,033.37	275.52	66,440.05
184	1,308.89	1,037.59	271.30	65,402.46
185	1,308.89	1,041.83	267.06	64,360.63
186	1,308.89	1,046.08	262.81	63,314.55
187	1,308.89	1,050.35	258.53	62,264.19
188	1,308.89	1,054.64	254.25	61,209.55
189	1,308.89	1,058.95	249.94	60,150.60
190	1,308.89	1,063.27	245.61	59,087.33
191	1,308.89	1,067.61	241.27	58,019.71
192	1,308.89	1,071.97	236.91	56,947.74
193	1,308.89	1,076.35	232.54	55,871.39
194	1,308.89	1,080.75	228.14	54,790.64
195	1,308.89	1,085.16	223.73	53,705.48
196	1,308.89	1,089.59	219.30	52,615.89
197	1,308.89	1,094.04	214.85	51,521.85
198	1,308.89	1,098.51	210.38	50,423.34
199	1,308.89	1,102.99	205.90	49,320.35
200	1,308.89	1,107.50	201.39	48,212.85
201	1,308.89	1,112.02	196.87	47,100.84
202	1,308.89	1,116.56	192.33	45,984.28
203	1,308.89	1,121.12	187.77	44,863.16
204	1,308.89	1,125.70	183.19	43,737.46
205	1,308.89	1,130.29	178.59	42,607.17
206	1,308.89	1,134.91	173.98	41,472.26
207	1,308.89	1,139.54	169.35	40,332.71
208	1,308.89	1,144.20	164.69	39,188.52
209	1,308.89	1,148.87	160.02	38,039.65
210	1,308.89	1,153.56	155.33	36,886.09
211	1,308.89	1,158.27	150.62	35,727.82
212	1,308.89	1,163.00	145.89	34,564.82
213	1,308.89	1,167.75	141.14	33,397.07
214	1,308.89	1,172.52	136.37	32,224.56
215	1,308.89	1,177.30	131.58	31,047.25
216	1,308.89	1,182.11	126.78	29,865.14
217	1,308.89	1,186.94	121.95	28,678.20
218	1,308.89	1,191.79	117.10	27,486.42
219	1,308.89	1,196.65	112.24	26,289.76
220	1,308.89	1,201.54	107.35	25,088.23
221	1,308.89	1,206.44	102.44	23,881.78
222	1,308.89	1,211.37	97.52	22,670.41
223	1,308.89	1,216.32	92.57	21,454.09
224	1,308.89	1,221.28	87.60	20,232.81
225	1,308.89	1,226.27	82.62	19,006.54
226	1,308.89	1,231.28	77.61	17,775.26
227	1,308.89	1,236.31	72.58	16,538.95
228	1,308.89	1,241.35	67.53	15,297.60
229	1,308.89	1,246.42	62.47	14,051.18
230	1,308.89	1,251.51	57.38	12,799.66
231	1,308.89	1,256.62	52.27	11,543.04
232	1,308.89	1,261.75	47.13	10,281.29
233	1,308.89	1,266.91	41.98	9,014.38
234	1,308.89	1,272.08	36.81	7,742.30
235	1,308.89	1,277.27	31.61	6,465.03
236	1,308.89	1,282.49	26.40	5,182.54
237	1,308.89	1,287.73	21.16	3,894.81
238	1,308.89	1,292.98	15.90	2,601.83
239	1,308.89	1,298.26	10.62	1,303.57
240	1,308.89	1,303.57	5.32	0.00

Comparison

Scenario	Total interest	Total paid
Standard plan	157,875.11	357,875.11
Your plan	114,133.14	317,633.14

Formula

break-even = cost ÷ (old payment − new payment)

= 19.20

Note

This schedule applies the standard amortization formula to the figures you entered. It assumes a fixed rate, payments made on time, and no fees, insurance or rate changes; a real lender's statement will differ.

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Frequently asked questions

What does the break-even point mean here?+

It's the number of months it takes for the monthly savings from a lower rate to fully offset the closing costs of refinancing. Before that point you're still net negative on the deal; after it, you're saving money.

Should I refinance if I might move before the break-even point?+

Generally no — if you plan to sell or move before you reach break-even, the refinance costs more than it saves. Compare your expected time in the home to the break-even month the calculator gives you.

Does the calculator include closing costs and fees?+

Yes, it weighs the total upfront cost of refinancing — appraisal, origination, title fees, etc. — against the monthly payment reduction, so enter your actual estimated closing costs for an accurate answer.

Why might refinancing still make sense even with a long break-even period?+

If you're also shortening the loan term, switching from an adjustable to a fixed rate, or removing mortgage insurance, there can be value beyond pure monthly savings that a simple break-even number doesn't capture.

Does resetting the loan term affect the payback math?+

Yes — refinancing into a new 30-year term after paying down several years of your original loan restarts amortization, which can lower payments but increase total interest paid over the full life of the debt.

Refinance Break Even Calculator

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