Mortgage refinance calculator
Model a refinance with the penalty and fees you enter, then compare the payment, loan-to-value, and break-even.
Illustrative rate set by Abir: 4.49% · Updated Jul 23, 2026
Estimated room to 80% LTV before costs: $220,000.
Enter the amount supplied by your lender.
Estimated refinanced payment
$3,123.98
per month
$434.16 lower per month
- New mortgage
- $565,000
- Loan to value
- 62.8%
- Available equity at 80%
- $220,000
- Current payment
- $3,558.14
- Monthly difference
- $434.16
- Break-even
- 35 months
- Current 5-year interest
- $137,400
- Refinance 5-year interest
- $118,406
Payment breakdown
- Existing balance
- $500,000
- Cash requested
- $50,000
- Penalty and fees
- $15,000
Use the lender’s penalty figure
Prepayment penalties are contract-specific. This tool never guesses one; ask your lender for a current payout statement before comparing.