How do I calculate the break-even on a refinance?

Enter the original loan amount, start date, rate, and term so the remaining balance and current P&I are calculated. Then enter the new rate, new term, and closing costs. Break-even is cost divided by monthly P&I savings. You type the rates. Egan Financial Group LLC NMLS 2647764.

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Egan Financial Group LLC · NMLS 2647764

Refinance break-even calculator

Enter the original amount, start date, rate, and term. Then enter the new rate and term. Closing costs start at $3,000 — change them. You type the rates.

Payment How much house Cash to close Compare 3 loans Debt consolidation Refinance break-even Rent vs own

Current loan

Original note

Original loan amount$Original rate%Original termyearsFirst payment / start date

Payments made: 37 · Remaining: 26.9 years · Balance: $386,194

New loan

Proposed refinance

New rate%New termyearsClosing costs$

Roll closing costs into the new loan

Egan Financial Group LLC NMLS 2647764. This is an estimate, not a fee quote. $3,000 is a starting closing-cost figure you can change. Remaining balance is modeled from the original amount, rate, term, and start date. Taxes and insurance are left out because they usually stay with the property. Not a commitment to lend.