Compare refinancing over the same holding period, including upfront costs and the principal still owed.
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0.01 – 10000000000
0 – 100
1 – 50
0 – 100
1 – 50
0 – 10000000000
1 – 50
Interest-and-fee savings over comparison period
$13,630.32
Positive means lower modeled cost. No cash-out, financed fees, taxes, insurance, prepayment penalties or discounting. Simple payment break-even ignores equity differences.
Compare payments plus remaining balance over the same horizon.
Interest cost = payments made + remaining balance − starting principal.
Savings = old interest cost − new interest cost − upfront closing costs.
For each loan, cost over the horizon equals payments made plus remaining balance minus starting balance. Add upfront refinance fees to the new-loan cost. A positive difference favors refinancing under these assumptions.
Replacing a $250,000 loan with the same rate and remaining term leaves interest unchanged. If the new loan costs $5,000 upfront, modeled savings are negative $5,000 at every shared horizon.
Yes. Extending the term can reduce the payment while leaving more principal outstanding. Compare costs and remaining balances over the same horizon rather than relying only on payment savings.
Last updated . Results are estimates for informational purposes only.