Mortgage Refinance Breakeven Calculator

Thinking about refinancing your home? Use the breakeven calculator to determine how long it will take to recoup the refinancing fees and how much you will save each month. Taxes and insurance will be estimated for you. Enter amounts in the fields below and the calculator will estimate your monthly savings and the number of months it will take for your monthly savings to surpass refinancing fees.


Current mortgage payment

(including property taxes, homeowner's insurance and mortgage insurance)

Amount of new mortgage


Interest Rate of new mortgage


Loan Term of new mortgage

Loan to Value Ratio

Refinance fees


Your Monthly Savings:
$361.31 per month
You will break even in
about 3 months!

Your monthly savings will cover your $1,000 refinancing fees in 3 months, which means you are saving money from the refinance after 3 months.

Here is how your monthly mortgage payment is calculated on a 30 year loan at 4.5%:

Your monthly payment is $688.69 per month.

Your principal and interest is $481.35 per month.

Your estimated homeowners insurance is $80 per month.

Your estimated property taxes are $92 per month.

The Private Mortgage Insurance (PMI) cost for this loan is $50 per month because of your loan to value ratio.

Have questions? Give me a call at 208-221-5855 (mobile) or 208-232-7711 ext 120 (office) or email me today!

Information provided by the calculator is an estimate based on the information that you provide. Information provided is not guaranteed and all loan products may not be available for your specific situation. If you have any questions, please give Mike Shore a call at 208-221-5855 (mobile) or 208-232-7711 ext 120 (office).