Refinance Model
Compare your current mortgage with a refinance offer and estimate payment changes, breakeven timing, and interest impact.
Projection outlook
Track the remaining balance over time and how the payment mix shifts as principal reduces the loan.
By the end of the modeled schedule, the remaining balance trends toward $0 across 21 years of payments.
Refinance payoff profile
Projected balance path under the refinance loan.
Principal vs interest breakdown
Review how much of the payoff goes toward reducing balance versus servicing interest.
Current interest is the largest component at about 60.5% of the total modeled amount.
Scenario comparison
Use the spread between scenarios to see how sensitive this outcome is to the assumptions you change first.
Conservative currently leads optimistic by about $195, which shows the approximate range across the modeled cases.
What changes the result most
Base
Refinance payment
$2,416
Optimistic
Slightly lower new rate
$2,320
Conservative
Slightly higher new rate
$2,515
Amortization table
Detailed payment schedule for the accelerated payoff path.
| # | Date | Payment | Principal | Interest | Extra | Balance |
|---|---|---|---|---|---|---|
| 1 | 2026-04-01 | $2,416 | $745 | $1,672 | $0 | $339,255 |
| 2 | 2026-05-01 | $2,416 | $748 | $1,668 | $0 | $338,507 |
| 3 | 2026-06-01 | $2,416 | $752 | $1,664 | $0 | $337,755 |
| 4 | 2026-07-01 | $2,416 | $756 | $1,661 | $0 | $336,999 |
| 5 | 2026-08-01 | $2,416 | $759 | $1,657 | $0 | $336,240 |
| 6 | 2026-09-01 | $2,416 | $763 | $1,653 | $0 | $335,477 |
| 7 | 2026-10-01 | $2,416 | $767 | $1,649 | $0 | $334,710 |
| 8 | 2026-11-01 | $2,416 | $771 | $1,646 | $0 | $333,939 |
| 9 | 2026-12-01 | $2,416 | $774 | $1,642 | $0 | $333,165 |
| 10 | 2027-01-01 | $2,416 | $778 | $1,638 | $0 | $332,387 |
| 11 | 2027-02-01 | $2,416 | $782 | $1,634 | $0 | $331,605 |
| 12 | 2027-03-01 | $2,416 | $786 | $1,630 | $0 | $330,819 |
| 13 | 2027-04-01 | $2,416 | $790 | $1,627 | $0 | $330,029 |
| 14 | 2027-05-01 | $2,416 | $794 | $1,623 | $0 | $329,235 |
| 15 | 2027-06-01 | $2,416 | $798 | $1,619 | $0 | $328,438 |
| 16 | 2027-07-01 | $2,416 | $801 | $1,615 | $0 | $327,636 |
| 17 | 2027-08-01 | $2,416 | $805 | $1,611 | $0 | $326,831 |
| 18 | 2027-09-01 | $2,416 | $809 | $1,607 | $0 | $326,022 |
| 19 | 2027-10-01 | $2,416 | $813 | $1,603 | $0 | $325,208 |
| 20 | 2027-11-01 | $2,416 | $817 | $1,599 | $0 | $324,391 |
| 21 | 2027-12-01 | $2,416 | $821 | $1,595 | $0 | $323,570 |
| 22 | 2028-01-01 | $2,416 | $825 | $1,591 | $0 | $322,744 |
| 23 | 2028-02-01 | $2,416 | $829 | $1,587 | $0 | $321,915 |
| 24 | 2028-03-01 | $2,416 | $834 | $1,583 | $0 | $321,081 |
| 25 | 2028-04-01 | $2,416 | $838 | $1,579 | $0 | $320,244 |
| 26 | 2028-05-01 | $2,416 | $842 | $1,575 | $0 | $319,402 |
| 27 | 2028-06-01 | $2,416 | $846 | $1,570 | $0 | $318,556 |
| 28 | 2028-07-01 | $2,416 | $850 | $1,566 | $0 | $317,706 |
| 29 | 2028-08-01 | $2,416 | $854 | $1,562 | $0 | $316,852 |
| 30 | 2028-09-01 | $2,416 | $858 | $1,558 | $0 | $315,993 |
| 31 | 2028-10-01 | $2,416 | $863 | $1,554 | $0 | $315,130 |
| 32 | 2028-11-01 | $2,416 | $867 | $1,549 | $0 | $314,264 |
| 33 | 2028-12-01 | $2,416 | $871 | $1,545 | $0 | $313,392 |
| 34 | 2029-01-01 | $2,416 | $875 | $1,541 | $0 | $312,517 |
| 35 | 2029-02-01 | $2,416 | $880 | $1,537 | $0 | $311,637 |
| 36 | 2029-03-01 | $2,416 | $884 | $1,532 | $0 | $310,753 |
| 37 | 2029-04-01 | $2,416 | $888 | $1,528 | $0 | $309,865 |
| 38 | 2029-05-01 | $2,416 | $893 | $1,524 | $0 | $308,972 |
| 39 | 2029-06-01 | $2,416 | $897 | $1,519 | $0 | $308,075 |
| 40 | 2029-07-01 | $2,416 | $902 | $1,515 | $0 | $307,173 |
| 41 | 2029-08-01 | $2,416 | $906 | $1,510 | $0 | $306,267 |
| 42 | 2029-09-01 | $2,416 | $910 | $1,506 | $0 | $305,357 |
| 43 | 2029-10-01 | $2,416 | $915 | $1,501 | $0 | $304,442 |
| 44 | 2029-11-01 | $2,416 | $919 | $1,497 | $0 | $303,522 |
| 45 | 2029-12-01 | $2,416 | $924 | $1,492 | $0 | $302,598 |
| 46 | 2030-01-01 | $2,416 | $929 | $1,488 | $0 | $301,670 |
| 47 | 2030-02-01 | $2,416 | $933 | $1,483 | $0 | $300,737 |
| 48 | 2030-03-01 | $2,416 | $938 | $1,479 | $0 | $299,799 |
| 49 | 2030-04-01 | $2,416 | $942 | $1,474 | $0 | $298,857 |
| 50 | 2030-05-01 | $2,416 | $947 | $1,469 | $0 | $297,910 |
| 51 | 2030-06-01 | $2,416 | $952 | $1,465 | $0 | $296,958 |
| 52 | 2030-07-01 | $2,416 | $956 | $1,460 | $0 | $296,002 |
| 53 | 2030-08-01 | $2,416 | $961 | $1,455 | $0 | $295,041 |
| 54 | 2030-09-01 | $2,416 | $966 | $1,451 | $0 | $294,075 |
| 55 | 2030-10-01 | $2,416 | $970 | $1,446 | $0 | $293,105 |
| 56 | 2030-11-01 | $2,416 | $975 | $1,441 | $0 | $292,130 |
| 57 | 2030-12-01 | $2,416 | $980 | $1,436 | $0 | $291,150 |
| 58 | 2031-01-01 | $2,416 | $985 | $1,431 | $0 | $290,165 |
| 59 | 2031-02-01 | $2,416 | $990 | $1,427 | $0 | $289,175 |
| 60 | 2031-03-01 | $2,416 | $995 | $1,422 | $0 | $288,181 |
| 61 | 2031-04-01 | $2,416 | $999 | $1,417 | $0 | $287,181 |
| 62 | 2031-05-01 | $2,416 | $1,004 | $1,412 | $0 | $286,177 |
| 63 | 2031-06-01 | $2,416 | $1,009 | $1,407 | $0 | $285,168 |
| 64 | 2031-07-01 | $2,416 | $1,014 | $1,402 | $0 | $284,154 |
| 65 | 2031-08-01 | $2,416 | $1,019 | $1,397 | $0 | $283,134 |
| 66 | 2031-09-01 | $2,416 | $1,024 | $1,392 | $0 | $282,110 |
| 67 | 2031-10-01 | $2,416 | $1,029 | $1,387 | $0 | $281,081 |
| 68 | 2031-11-01 | $2,416 | $1,034 | $1,382 | $0 | $280,047 |
| 69 | 2031-12-01 | $2,416 | $1,039 | $1,377 | $0 | $279,007 |
| 70 | 2032-01-01 | $2,416 | $1,045 | $1,372 | $0 | $277,963 |
| 71 | 2032-02-01 | $2,416 | $1,050 | $1,367 | $0 | $276,913 |
| 72 | 2032-03-01 | $2,416 | $1,055 | $1,361 | $0 | $275,858 |
| 73 | 2032-04-01 | $2,416 | $1,060 | $1,356 | $0 | $274,798 |
| 74 | 2032-05-01 | $2,416 | $1,065 | $1,351 | $0 | $273,733 |
| 75 | 2032-06-01 | $2,416 | $1,070 | $1,346 | $0 | $272,663 |
| 76 | 2032-07-01 | $2,416 | $1,076 | $1,341 | $0 | $271,587 |
| 77 | 2032-08-01 | $2,416 | $1,081 | $1,335 | $0 | $270,506 |
| 78 | 2032-09-01 | $2,416 | $1,086 | $1,330 | $0 | $269,420 |
| 79 | 2032-10-01 | $2,416 | $1,092 | $1,325 | $0 | $268,328 |
| 80 | 2032-11-01 | $2,416 | $1,097 | $1,319 | $0 | $267,231 |
| 81 | 2032-12-01 | $2,416 | $1,102 | $1,314 | $0 | $266,129 |
| 82 | 2033-01-01 | $2,416 | $1,108 | $1,308 | $0 | $265,021 |
| 83 | 2033-02-01 | $2,416 | $1,113 | $1,303 | $0 | $263,908 |
| 84 | 2033-03-01 | $2,416 | $1,119 | $1,298 | $0 | $262,789 |
| 85 | 2033-04-01 | $2,416 | $1,124 | $1,292 | $0 | $261,665 |
| 86 | 2033-05-01 | $2,416 | $1,130 | $1,287 | $0 | $260,535 |
| 87 | 2033-06-01 | $2,416 | $1,135 | $1,281 | $0 | $259,399 |
| 88 | 2033-07-01 | $2,416 | $1,141 | $1,275 | $0 | $258,258 |
| 89 | 2033-08-01 | $2,416 | $1,147 | $1,270 | $0 | $257,112 |
| 90 | 2033-09-01 | $2,416 | $1,152 | $1,264 | $0 | $255,960 |
| 91 | 2033-10-01 | $2,416 | $1,158 | $1,258 | $0 | $254,802 |
| 92 | 2033-11-01 | $2,416 | $1,164 | $1,253 | $0 | $253,638 |
| 93 | 2033-12-01 | $2,416 | $1,169 | $1,247 | $0 | $252,469 |
| 94 | 2034-01-01 | $2,416 | $1,175 | $1,241 | $0 | $251,294 |
| 95 | 2034-02-01 | $2,416 | $1,181 | $1,236 | $0 | $250,113 |
| 96 | 2034-03-01 | $2,416 | $1,187 | $1,230 | $0 | $248,927 |
| 97 | 2034-04-01 | $2,416 | $1,192 | $1,224 | $0 | $247,735 |
| 98 | 2034-05-01 | $2,416 | $1,198 | $1,218 | $0 | $246,536 |
| 99 | 2034-06-01 | $2,416 | $1,204 | $1,212 | $0 | $245,332 |
| 100 | 2034-07-01 | $2,416 | $1,210 | $1,206 | $0 | $244,122 |
| 101 | 2034-08-01 | $2,416 | $1,216 | $1,200 | $0 | $242,906 |
| 102 | 2034-09-01 | $2,416 | $1,222 | $1,194 | $0 | $241,684 |
| 103 | 2034-10-01 | $2,416 | $1,228 | $1,188 | $0 | $240,456 |
| 104 | 2034-11-01 | $2,416 | $1,234 | $1,182 | $0 | $239,222 |
| 105 | 2034-12-01 | $2,416 | $1,240 | $1,176 | $0 | $237,982 |
| 106 | 2035-01-01 | $2,416 | $1,246 | $1,170 | $0 | $236,736 |
| 107 | 2035-02-01 | $2,416 | $1,252 | $1,164 | $0 | $235,483 |
| 108 | 2035-03-01 | $2,416 | $1,258 | $1,158 | $0 | $234,225 |
| 109 | 2035-04-01 | $2,416 | $1,265 | $1,152 | $0 | $232,960 |
| 110 | 2035-05-01 | $2,416 | $1,271 | $1,145 | $0 | $231,689 |
| 111 | 2035-06-01 | $2,416 | $1,277 | $1,139 | $0 | $230,412 |
| 112 | 2035-07-01 | $2,416 | $1,283 | $1,133 | $0 | $229,129 |
| 113 | 2035-08-01 | $2,416 | $1,290 | $1,127 | $0 | $227,839 |
| 114 | 2035-09-01 | $2,416 | $1,296 | $1,120 | $0 | $226,543 |
| 115 | 2035-10-01 | $2,416 | $1,302 | $1,114 | $0 | $225,240 |
| 116 | 2035-11-01 | $2,416 | $1,309 | $1,107 | $0 | $223,931 |
| 117 | 2035-12-01 | $2,416 | $1,315 | $1,101 | $0 | $222,616 |
| 118 | 2036-01-01 | $2,416 | $1,322 | $1,095 | $0 | $221,294 |
| 119 | 2036-02-01 | $2,416 | $1,328 | $1,088 | $0 | $219,966 |
| 120 | 2036-03-01 | $2,416 | $1,335 | $1,082 | $0 | $218,631 |
Accessibility summary: Current payment is about $2,381 versus $2,416 with the new loan. Breakeven is roughly not reached from payment savings alone. Base: $2,416 (Refinance payment) | Optimistic: $2,320 (Slightly lower new rate) | Conservative: $2,515 (Slightly higher new rate)
Results
The refinance may save about $130,011 after costs.
Current payment is about $2,381 versus $2,416 with the new loan. Breakeven is roughly not reached from payment savings alone.
Current payment
$2,381
New payment
$2,416
Monthly change
-$35
Breakeven
N/A
Interest after costs
$130,011
How to use this output
Start with the main result at the top. Then review the key numbers, look at how the chart changes over time, and compare the Base, Optimistic, and Conservative scenarios before making a decision.
Saved scenarios
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Model overview
Understand the model at a glance
What this model does
- Compares current and refinance monthly payments side by side.
- Estimates the breakeven point on refinance costs.
- Shows whether the refinance improves cash flow, lifetime interest, or both.
Key assumptions
- The refinance costs are treated as upfront cash outflows.
- Both current and new loans are modeled as fixed-rate principal-and-interest loans.
- The analysis does not include tax effects or cash-out refinancing.
Example scenario
A lower rate can reduce monthly payment, but if the term resets too long or the costs are high, the refinance may not be as compelling as it first appears.
How the math works
Open to review the formulas and planning logic behind this model.
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How the math works
Open to review the formulas and planning logic behind this model.
- The calculator computes a standard monthly payment for the current loan and the proposed refinance loan.
- It estimates breakeven by dividing the upfront costs by monthly payment savings where that comparison is meaningful.
Next steps
Insights and recommendations
Questions
FAQ
Are these outputs guarantees?
No. They are planning estimates based on your assumptions and should be updated as markets, taxes, and spending change.
Do these calculators replace professional advice?
No. They are a strong planning starting point, but tax, legal, and investment decisions should be reviewed with a qualified professional when appropriate.
How often should I revisit my inputs?
A good rule is to revisit assumptions after major income, spending, family, tax, or market changes and at least a few times per year.
Why do the optimistic and conservative scenarios matter?
They help you see how sensitive the result is to assumptions instead of anchoring on one exact output.
Should I include inflation separately?
Yes when the calculator allows it. Separating inflation from returns usually makes the planning logic easier to understand.
What if my real life differs from the model?
That is normal. Use the output as a planning range and update the scenario as new information arrives.
Which metric should I pay attention to first?
Start with the headline summary and the first two or three result cards. Those usually hold the most decision-useful information.
Can I share these results with someone else?
Yes. Major calculators support shareable URL state so you can copy the scenario link and send it directly.