Mortgage Refinance Calculator

Compare a replacement loan with your current mortgage over a realistic holding period.

Your estimate

New monthly P&I: $2,013.14
Comparison monthly P&I: $2,160.66
Monthly payment reduction: $147.52
Simple payment break-even: 30.5 months
Interest and fee savings at horizon: $12,067.47
Comparison balance at horizon: $274,697.34
New balance at horizon: $270,521.75
New loan total interest: $283,942.15
Comparison total interest: $328,198.87

Refinanced loanOriginal loan

Starting values are illustrative, not live quotes. Simple break-even divides fees by the payment reduction; it is not an economic return. Horizon savings compare interest plus fees, including financed fees once, and exclude taxes, insurance, discounting and opportunity cost. Compare balances as well as payments.

Payment schedule

Payment schedule
Month	Payment	Principal	Interest	Balance
1	$2,013.14	$479.81	$1,533.33	$319,520.19
2	$2,013.14	$482.11	$1,531.03	$319,038.09
3	$2,013.14	$484.42	$1,528.72	$318,553.67
4	$2,013.14	$486.74	$1,526.40	$318,066.93
5	$2,013.14	$489.07	$1,524.07	$317,577.86
6	$2,013.14	$491.41	$1,521.73	$317,086.45
7	$2,013.14	$493.77	$1,519.37	$316,592.68
8	$2,013.14	$496.13	$1,517.01	$316,096.55
9	$2,013.14	$498.51	$1,514.63	$315,598.04
10	$2,013.14	$500.90	$1,512.24	$315,097.14
11	$2,013.14	$503.30	$1,509.84	$314,593.84
12	$2,013.14	$505.71	$1,507.43	$314,088.13
13	$2,013.14	$508.13	$1,505.01	$313,579.99
14	$2,013.14	$510.57	$1,502.57	$313,069.42
15	$2,013.14	$513.02	$1,500.12	$312,556.40
16	$2,013.14	$515.47	$1,497.67	$312,040.93
17	$2,013.14	$517.94	$1,495.20	$311,522.99
18	$2,013.14	$520.43	$1,492.71	$311,002.56
19	$2,013.14	$522.92	$1,490.22	$310,479.64
20	$2,013.14	$525.43	$1,487.71	$309,954.21
21	$2,013.14	$527.94	$1,485.20	$309,426.27
22	$2,013.14	$530.47	$1,482.67	$308,895.80
23	$2,013.14	$533.01	$1,480.13	$308,362.78
24	$2,013.14	$535.57	$1,477.57	$307,827.21
25	$2,013.14	$538.14	$1,475.01	$307,289.08
26	$2,013.14	$540.71	$1,472.43	$306,748.37
27	$2,013.14	$543.30	$1,469.84	$306,205.06
28	$2,013.14	$545.91	$1,467.23	$305,659.15
29	$2,013.14	$548.52	$1,464.62	$305,110.63
30	$2,013.14	$551.15	$1,461.99	$304,559.48
31	$2,013.14	$553.79	$1,459.35	$304,005.68
32	$2,013.14	$556.45	$1,456.69	$303,449.24
33	$2,013.14	$559.11	$1,454.03	$302,890.12
34	$2,013.14	$561.79	$1,451.35	$302,328.33
35	$2,013.14	$564.48	$1,448.66	$301,763.85
36	$2,013.14	$567.19	$1,445.95	$301,196.66
37	$2,013.14	$569.91	$1,443.23	$300,626.75
38	$2,013.14	$572.64	$1,440.50	$300,054.12
39	$2,013.14	$575.38	$1,437.76	$299,478.74
40	$2,013.14	$578.14	$1,435.00	$298,900.60
41	$2,013.14	$580.91	$1,432.23	$298,319.69
42	$2,013.14	$583.69	$1,429.45	$297,736.00
43	$2,013.14	$586.49	$1,426.65	$297,149.51
44	$2,013.14	$589.30	$1,423.84	$296,560.21
45	$2,013.14	$592.12	$1,421.02	$295,968.09
46	$2,013.14	$594.96	$1,418.18	$295,373.13
47	$2,013.14	$597.81	$1,415.33	$294,775.31
48	$2,013.14	$600.68	$1,412.47	$294,174.64
49	$2,013.14	$603.55	$1,409.59	$293,571.09
50	$2,013.14	$606.45	$1,406.69	$292,964.64
51	$2,013.14	$609.35	$1,403.79	$292,355.29
52	$2,013.14	$612.27	$1,400.87	$291,743.02
53	$2,013.14	$615.21	$1,397.94	$291,127.81
54	$2,013.14	$618.15	$1,394.99	$290,509.66
55	$2,013.14	$621.12	$1,392.03	$289,888.54
56	$2,013.14	$624.09	$1,389.05	$289,264.45
57	$2,013.14	$627.08	$1,386.06	$288,637.37
58	$2,013.14	$630.09	$1,383.05	$288,007.28
59	$2,013.14	$633.11	$1,380.03	$287,374.18
60	$2,013.14	$636.14	$1,377.00	$286,738.04
61	$2,013.14	$639.19	$1,373.95	$286,098.85
62	$2,013.14	$642.25	$1,370.89	$285,456.60
63	$2,013.14	$645.33	$1,367.81	$284,811.27
64	$2,013.14	$648.42	$1,364.72	$284,162.85
65	$2,013.14	$651.53	$1,361.61	$283,511.33
66	$2,013.14	$654.65	$1,358.49	$282,856.68
67	$2,013.14	$657.79	$1,355.35	$282,198.89
68	$2,013.14	$660.94	$1,352.20	$281,537.96
69	$2,013.14	$664.10	$1,349.04	$280,873.85
70	$2,013.14	$667.29	$1,345.85	$280,206.57
71	$2,013.14	$670.48	$1,342.66	$279,536.08
72	$2,013.14	$673.70	$1,339.44	$278,862.38
73	$2,013.14	$676.92	$1,336.22	$278,185.46
74	$2,013.14	$680.17	$1,332.97	$277,505.29
75	$2,013.14	$683.43	$1,329.71	$276,821.86
76	$2,013.14	$686.70	$1,326.44	$276,135.16
77	$2,013.14	$689.99	$1,323.15	$275,445.17
78	$2,013.14	$693.30	$1,319.84	$274,751.87
79	$2,013.14	$696.62	$1,316.52	$274,055.25
80	$2,013.14	$699.96	$1,313.18	$273,355.29
81	$2,013.14	$703.31	$1,309.83	$272,651.98
82	$2,013.14	$706.68	$1,306.46	$271,945.29
83	$2,013.14	$710.07	$1,303.07	$271,235.22
84	$2,013.14	$713.47	$1,299.67	$270,521.75
85	$2,013.14	$716.89	$1,296.25	$269,804.86
86	$2,013.14	$720.33	$1,292.81	$269,084.54
87	$2,013.14	$723.78	$1,289.36	$268,360.76
88	$2,013.14	$727.25	$1,285.90	$267,633.51
89	$2,013.14	$730.73	$1,282.41	$266,902.78
90	$2,013.14	$734.23	$1,278.91	$266,168.55
91	$2,013.14	$737.75	$1,275.39	$265,430.80
92	$2,013.14	$741.28	$1,271.86	$264,689.52
93	$2,013.14	$744.84	$1,268.30	$263,944.68
94	$2,013.14	$748.41	$1,264.73	$263,196.28
95	$2,013.14	$751.99	$1,261.15	$262,444.28
96	$2,013.14	$755.59	$1,257.55	$261,688.69
97	$2,013.14	$759.22	$1,253.92	$260,929.47
98	$2,013.14	$762.85	$1,250.29	$260,166.62
99	$2,013.14	$766.51	$1,246.63	$259,400.11
100	$2,013.14	$770.18	$1,242.96	$258,629.93
101	$2,013.14	$773.87	$1,239.27	$257,856.06
102	$2,013.14	$777.58	$1,235.56	$257,078.48
103	$2,013.14	$781.31	$1,231.83	$256,297.17
104	$2,013.14	$785.05	$1,228.09	$255,512.12
105	$2,013.14	$788.81	$1,224.33	$254,723.31
106	$2,013.14	$792.59	$1,220.55	$253,930.72
107	$2,013.14	$796.39	$1,216.75	$253,134.33
108	$2,013.14	$800.21	$1,212.94	$252,334.12
109	$2,013.14	$804.04	$1,209.10	$251,530.09
110	$2,013.14	$807.89	$1,205.25	$250,722.19
111	$2,013.14	$811.76	$1,201.38	$249,910.43
112	$2,013.14	$815.65	$1,197.49	$249,094.78
113	$2,013.14	$819.56	$1,193.58	$248,275.22
114	$2,013.14	$823.49	$1,189.65	$247,451.73
115	$2,013.14	$827.43	$1,185.71	$246,624.29
116	$2,013.14	$831.40	$1,181.74	$245,792.89
117	$2,013.14	$835.38	$1,177.76	$244,957.51
118	$2,013.14	$839.39	$1,173.75	$244,118.13
119	$2,013.14	$843.41	$1,169.73	$243,274.72
120	$2,013.14	$847.45	$1,165.69	$242,427.27
121	$2,013.14	$851.51	$1,161.63	$241,575.76
122	$2,013.14	$855.59	$1,157.55	$240,720.17
123	$2,013.14	$859.69	$1,153.45	$239,860.48
124	$2,013.14	$863.81	$1,149.33	$238,996.67
125	$2,013.14	$867.95	$1,145.19	$238,128.72
126	$2,013.14	$872.11	$1,141.03	$237,256.61
127	$2,013.14	$876.29	$1,136.85	$236,380.33
128	$2,013.14	$880.48	$1,132.66	$235,499.84
129	$2,013.14	$884.70	$1,128.44	$234,615.14
130	$2,013.14	$888.94	$1,124.20	$233,726.20
131	$2,013.14	$893.20	$1,119.94	$232,832.99
132	$2,013.14	$897.48	$1,115.66	$231,935.51
133	$2,013.14	$901.78	$1,111.36	$231,033.73
134	$2,013.14	$906.10	$1,107.04	$230,127.63
135	$2,013.14	$910.45	$1,102.69	$229,217.18
136	$2,013.14	$914.81	$1,098.33	$228,302.37
137	$2,013.14	$919.19	$1,093.95	$227,383.18
138	$2,013.14	$923.60	$1,089.54	$226,459.58
139	$2,013.14	$928.02	$1,085.12	$225,531.56
140	$2,013.14	$932.47	$1,080.67	$224,599.09
141	$2,013.14	$936.94	$1,076.20	$223,662.16
142	$2,013.14	$941.43	$1,071.71	$222,720.73
143	$2,013.14	$945.94	$1,067.20	$221,774.79
144	$2,013.14	$950.47	$1,062.67	$220,824.32
145	$2,013.14	$955.02	$1,058.12	$219,869.30
146	$2,013.14	$959.60	$1,053.54	$218,909.70
147	$2,013.14	$964.20	$1,048.94	$217,945.50
148	$2,013.14	$968.82	$1,044.32	$216,976.68
149	$2,013.14	$973.46	$1,039.68	$216,003.22
150	$2,013.14	$978.13	$1,035.02	$215,025.10
151	$2,013.14	$982.81	$1,030.33	$214,042.29
152	$2,013.14	$987.52	$1,025.62	$213,054.77
153	$2,013.14	$992.25	$1,020.89	$212,062.51
154	$2,013.14	$997.01	$1,016.13	$211,065.51
155	$2,013.14	$1,001.78	$1,011.36	$210,063.72
156	$2,013.14	$1,006.59	$1,006.56	$209,057.14
157	$2,013.14	$1,011.41	$1,001.73	$208,045.73
158	$2,013.14	$1,016.25	$996.89	$207,029.47
159	$2,013.14	$1,021.12	$992.02	$206,008.35
160	$2,013.14	$1,026.02	$987.12	$204,982.33
161	$2,013.14	$1,030.93	$982.21	$203,951.40
162	$2,013.14	$1,035.87	$977.27	$202,915.52
163	$2,013.14	$1,040.84	$972.30	$201,874.69
164	$2,013.14	$1,045.82	$967.32	$200,828.86
165	$2,013.14	$1,050.84	$962.30	$199,778.03
166	$2,013.14	$1,055.87	$957.27	$198,722.16
167	$2,013.14	$1,060.93	$952.21	$197,661.23
168	$2,013.14	$1,066.01	$947.13	$196,595.21
169	$2,013.14	$1,071.12	$942.02	$195,524.09
170	$2,013.14	$1,076.25	$936.89	$194,447.84
171	$2,013.14	$1,081.41	$931.73	$193,366.42
172	$2,013.14	$1,086.59	$926.55	$192,279.83
173	$2,013.14	$1,091.80	$921.34	$191,188.03
174	$2,013.14	$1,097.03	$916.11	$190,091.00
175	$2,013.14	$1,102.29	$910.85	$188,988.71
176	$2,013.14	$1,107.57	$905.57	$187,881.14
177	$2,013.14	$1,112.88	$900.26	$186,768.27
178	$2,013.14	$1,118.21	$894.93	$185,650.06
179	$2,013.14	$1,123.57	$889.57	$184,526.49
180	$2,013.14	$1,128.95	$884.19	$183,397.54
181	$2,013.14	$1,134.36	$878.78	$182,263.18
182	$2,013.14	$1,139.80	$873.34	$181,123.38
183	$2,013.14	$1,145.26	$867.88	$179,978.13
184	$2,013.14	$1,150.75	$862.40	$178,827.38
185	$2,013.14	$1,156.26	$856.88	$177,671.12
186	$2,013.14	$1,161.80	$851.34	$176,509.32
187	$2,013.14	$1,167.37	$845.77	$175,341.95
188	$2,013.14	$1,172.96	$840.18	$174,168.99
189	$2,013.14	$1,178.58	$834.56	$172,990.41
190	$2,013.14	$1,184.23	$828.91	$171,806.19
191	$2,013.14	$1,189.90	$823.24	$170,616.28
192	$2,013.14	$1,195.60	$817.54	$169,420.68
193	$2,013.14	$1,201.33	$811.81	$168,219.35
194	$2,013.14	$1,207.09	$806.05	$167,012.26
195	$2,013.14	$1,212.87	$800.27	$165,799.38
196	$2,013.14	$1,218.69	$794.46	$164,580.70
197	$2,013.14	$1,224.52	$788.62	$163,356.17
198	$2,013.14	$1,230.39	$782.75	$162,125.78
199	$2,013.14	$1,236.29	$776.85	$160,889.49
200	$2,013.14	$1,242.21	$770.93	$159,647.28
201	$2,013.14	$1,248.16	$764.98	$158,399.12
202	$2,013.14	$1,254.14	$759.00	$157,144.97
203	$2,013.14	$1,260.15	$752.99	$155,884.82
204	$2,013.14	$1,266.19	$746.95	$154,618.63
205	$2,013.14	$1,272.26	$740.88	$153,346.37
206	$2,013.14	$1,278.36	$734.78	$152,068.01
207	$2,013.14	$1,284.48	$728.66	$150,783.53
208	$2,013.14	$1,290.64	$722.50	$149,492.89
209	$2,013.14	$1,296.82	$716.32	$148,196.07
210	$2,013.14	$1,303.03	$710.11	$146,893.04
211	$2,013.14	$1,309.28	$703.86	$145,583.76
212	$2,013.14	$1,315.55	$697.59	$144,268.21
213	$2,013.14	$1,321.86	$691.29	$142,946.35
214	$2,013.14	$1,328.19	$684.95	$141,618.16
215	$2,013.14	$1,334.55	$678.59	$140,283.61
216	$2,013.14	$1,340.95	$672.19	$138,942.66
217	$2,013.14	$1,347.37	$665.77	$137,595.29
218	$2,013.14	$1,353.83	$659.31	$136,241.46
219	$2,013.14	$1,360.32	$652.82	$134,881.14
220	$2,013.14	$1,366.84	$646.31	$133,514.31
221	$2,013.14	$1,373.38	$639.76	$132,140.92
222	$2,013.14	$1,379.97	$633.18	$130,760.96
223	$2,013.14	$1,386.58	$626.56	$129,374.38
224	$2,013.14	$1,393.22	$619.92	$127,981.16
225	$2,013.14	$1,399.90	$613.24	$126,581.26
226	$2,013.14	$1,406.61	$606.54	$125,174.66
227	$2,013.14	$1,413.35	$599.80	$123,761.31
228	$2,013.14	$1,420.12	$593.02	$122,341.19
229	$2,013.14	$1,426.92	$586.22	$120,914.27
230	$2,013.14	$1,433.76	$579.38	$119,480.51
231	$2,013.14	$1,440.63	$572.51	$118,039.88
232	$2,013.14	$1,447.53	$565.61	$116,592.35
233	$2,013.14	$1,454.47	$558.67	$115,137.88
234	$2,013.14	$1,461.44	$551.70	$113,676.44
235	$2,013.14	$1,468.44	$544.70	$112,208.00
236	$2,013.14	$1,475.48	$537.66	$110,732.52
237	$2,013.14	$1,482.55	$530.59	$109,249.98
238	$2,013.14	$1,489.65	$523.49	$107,760.33
239	$2,013.14	$1,496.79	$516.35	$106,263.54
240	$2,013.14	$1,503.96	$509.18	$104,759.58
241	$2,013.14	$1,511.17	$501.97	$103,248.41
242	$2,013.14	$1,518.41	$494.73	$101,730.00
243	$2,013.14	$1,525.68	$487.46	$100,204.32
244	$2,013.14	$1,532.99	$480.15	$98,671.32
245	$2,013.14	$1,540.34	$472.80	$97,130.98
246	$2,013.14	$1,547.72	$465.42	$95,583.26
247	$2,013.14	$1,555.14	$458.00	$94,028.12
248	$2,013.14	$1,562.59	$450.55	$92,465.53
249	$2,013.14	$1,570.08	$443.06	$90,895.46
250	$2,013.14	$1,577.60	$435.54	$89,317.86
251	$2,013.14	$1,585.16	$427.98	$87,732.70
252	$2,013.14	$1,592.75	$420.39	$86,139.94
253	$2,013.14	$1,600.39	$412.75	$84,539.56
254	$2,013.14	$1,608.06	$405.09	$82,931.50
255	$2,013.14	$1,615.76	$397.38	$81,315.74
256	$2,013.14	$1,623.50	$389.64	$79,692.24
257	$2,013.14	$1,631.28	$381.86	$78,060.96
258	$2,013.14	$1,639.10	$374.04	$76,421.86
259	$2,013.14	$1,646.95	$366.19	$74,774.91
260	$2,013.14	$1,654.84	$358.30	$73,120.06
261	$2,013.14	$1,662.77	$350.37	$71,457.29
262	$2,013.14	$1,670.74	$342.40	$69,786.55
263	$2,013.14	$1,678.75	$334.39	$68,107.80
264	$2,013.14	$1,686.79	$326.35	$66,421.01
265	$2,013.14	$1,694.87	$318.27	$64,726.14
266	$2,013.14	$1,702.99	$310.15	$63,023.14
267	$2,013.14	$1,711.15	$301.99	$61,311.99
268	$2,013.14	$1,719.35	$293.79	$59,592.63
269	$2,013.14	$1,727.59	$285.55	$57,865.04
270	$2,013.14	$1,735.87	$277.27	$56,129.17
271	$2,013.14	$1,744.19	$268.95	$54,384.98
272	$2,013.14	$1,752.55	$260.59	$52,632.44
273	$2,013.14	$1,760.94	$252.20	$50,871.49
274	$2,013.14	$1,769.38	$243.76	$49,102.11
275	$2,013.14	$1,777.86	$235.28	$47,324.25
276	$2,013.14	$1,786.38	$226.76	$45,537.87
277	$2,013.14	$1,794.94	$218.20	$43,742.94
278	$2,013.14	$1,803.54	$209.60	$41,939.40
279	$2,013.14	$1,812.18	$200.96	$40,127.22
280	$2,013.14	$1,820.86	$192.28	$38,306.35
281	$2,013.14	$1,829.59	$183.55	$36,476.76
282	$2,013.14	$1,838.36	$174.78	$34,638.41
283	$2,013.14	$1,847.16	$165.98	$32,791.24
284	$2,013.14	$1,856.02	$157.12	$30,935.23
285	$2,013.14	$1,864.91	$148.23	$29,070.32
286	$2,013.14	$1,873.85	$139.30	$27,196.47
287	$2,013.14	$1,882.82	$130.32	$25,313.65
288	$2,013.14	$1,891.85	$121.29	$23,421.80
289	$2,013.14	$1,900.91	$112.23	$21,520.89
290	$2,013.14	$1,910.02	$103.12	$19,610.87
291	$2,013.14	$1,919.17	$93.97	$17,691.70
292	$2,013.14	$1,928.37	$84.77	$15,763.33
293	$2,013.14	$1,937.61	$75.53	$13,825.72
294	$2,013.14	$1,946.89	$66.25	$11,878.83
295	$2,013.14	$1,956.22	$56.92	$9,922.61
296	$2,013.14	$1,965.59	$47.55	$7,957.02
297	$2,013.14	$1,975.01	$38.13	$5,982.00
298	$2,013.14	$1,984.48	$28.66	$3,997.53
299	$2,013.14	$1,993.99	$19.15	$2,003.54
300	$2,013.14	$2,003.54	$9.60	$0.00

Updated September 9, 2026

How to use

Replace the example inputs with your loan and property figures.
Select Calculate to update the estimate and any schedule.
Change one assumption at a time, then compare the result with the earlier scenario.

How this calculation works

The existing balance is amortized over the remaining term. The replacement loan uses the new rate and term, adding fees to principal only when selected. At the comparison horizon, the tool totals interest and transaction fees and separately reports each remaining balance.

Horizon savings = old interest to horizon − new interest to horizon − refinance fees

Worked example

Illustrative inputs — not a quote or a local average.

Current principal balance: $320,000.00
Interest rate: 6.5 %
Years remaining: 25 years
New interest rate: 5.75 %
New loan term: 25 years
Transaction costs: $4,500.00
Finance closing costs: Pay in cash
Comparison period: 7 years

New monthly P&I: $2,013.14. Comparison monthly P&I: $2,160.66. Monthly payment reduction: $147.52.

Reading the result

A lower payment can come from a better rate, a longer term, or both. Read the horizon cost difference alongside the balances. Financing costs reduces cash due today but makes those costs interest-bearing; the cost comparison counts the fee itself once and also includes the interest it creates.

Before acting on the estimate

Use all nonrecoverable refinance costs, including any applicable penalty. Do not count a refundable old escrow balance as interest savings. This model excludes cash-out proceeds and tax effects; use the cash-out tool for proceeds and obtain a full lender quote for underwriting.