Refinance Break-Even Calculator

Estimate payment change, fee break-even, and a selected-horizon comparison for a refinance.

Method checked 2026-09-15 · Methods & sources · Examples are estimates, not current offers or quotes.

Your inputs

Example values are editable assumptions. Enter your own numbers.

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Your estimate

Fill in the inputs and select Calculate. Results clear when you change an input so you can compare a fresh estimate.

How this calculator works

Computes each fixed principal-and-interest payment from balance, APR, and term.

Adds entered fees to the refinanced balance, which increases the new payment and remaining principal.

For every month through the longer loan term, compares cumulative payments plus remaining principal to find the first economic break-even.

Worked example

Worked example: refinancing $100,000 from 6.00% to 5.00% for 360 months with $0 fees changes the monthly principal-and-interest payment from about $599.55 to $536.82; economic break-even is month 1.

Common questions

What does economic break-even mean here?

It is the first month when modeled payments already made plus the payoff balance are no higher for the refinanced loan, including financed fees.

Why compare a horizon cost?

It includes the remaining principal at the selected time, which helps show the effect of changing the term.