Refinance Decision Engine
Calculate your break-even point and total interest savings.
New Required Minimum
$1,520
Break-Even Point
9Mos
Months until savings cover closing costs.
Net Life Savings
$25,597
Interest saved minus closing costs.
Monthly Impact
+$580 Savings
New Loan Term
30.1 Years
Current Loan Path
| Year | Interest | Balance |
|---|---|---|
| Year 0 | $1,625 | $299,525 |
| Year 1 | $1,593 | $293,620 |
| Year 2 | $1,559 | $287,320 |
| Year 3 | $1,523 | $280,598 |
| Year 4 | $1,484 | $273,426 |
| Year 5 | $1,443 | $265,773 |
| Year 6 | $1,399 | $257,608 |
| Year 7 | $1,352 | $248,896 |
| Year 8 | $1,302 | $239,600 |
| Year 9 | $1,249 | $229,682 |
| Year 10 | $1,192 | $219,100 |
| Year 11 | $1,131 | $207,809 |
| Year 12 | $1,066 | $195,762 |
| Year 13 | $997 | $182,908 |
| Year 14 | $923 | $169,193 |
| Year 15 | $844 | $154,560 |
| Year 16 | $760 | $138,947 |
| Year 17 | $670 | $122,288 |
| Year 18 | $574 | $104,513 |
| Year 19 | $472 | $85,548 |
| Year 20 | $363 | $65,313 |
| Year 21 | $247 | $43,723 |
| Year 22 | $123 | $20,686 |
| Year 23 | $2 | $0 |
Refinance Path
| Year | Interest | Balance |
|---|---|---|
| Year 0 | $1,125 | $299,605 |
| Year 1 | $1,107 | $294,747 |
| Year 2 | $1,088 | $289,666 |
| Year 3 | $1,068 | $284,352 |
| Year 4 | $1,047 | $278,793 |
| Year 5 | $1,026 | $272,979 |
| Year 6 | $1,003 | $266,898 |
| Year 7 | $979 | $260,538 |
| Year 8 | $954 | $253,885 |
| Year 9 | $928 | $246,927 |
| Year 10 | $901 | $239,649 |
| Year 11 | $873 | $232,037 |
| Year 12 | $843 | $224,075 |
| Year 13 | $812 | $215,748 |
| Year 14 | $779 | $207,037 |
| Year 15 | $745 | $197,927 |
| Year 16 | $710 | $188,398 |
| Year 17 | $672 | $178,431 |
| Year 18 | $633 | $168,007 |
| Year 19 | $593 | $157,104 |
| Year 20 | $550 | $145,699 |
| Year 21 | $505 | $133,771 |
| Year 22 | $459 | $121,295 |
| Year 23 | $410 | $108,245 |
| Year 24 | $359 | $94,597 |
| Year 25 | $306 | $80,321 |
| Year 26 | $250 | $65,389 |
| Year 27 | $192 | $49,771 |
| Year 28 | $131 | $33,436 |
| Year 29 | $67 | $16,351 |
| Year 30 | $0 | $0 |