Refinance Break-Even Calculator

Input current balance, remaining term, old/new rates and refi costs; the calculator returns monthly saving, the months needed to recover costs, and net saving over the remaining term.

s*(1+s)**o/((1+s)**o-1)}function n(){var c=+e.querySelector("[data-f=bal]").value,o=+e.querySelector("[data-f=years]").value,h=+e.querySelector("[data-f=oldRate]").value,m=+e.querySelector("[data-f=newRate]").value,i=+e.querySelector("[data-f=cost]").value,a=+e.querySelector("[data-f=cashback]").value,l=s(c,h,o),d=s(c,m,o),n=l-d,f=o12,u=nf-i+a,r=n>0?(i-a)/n:0;r<0&&(r=0),e.querySelector("[data-out]").innerHTML='

Monthly saving '+t(n)+'

Net saving over '+o+" years (after costs): "+t(u)+"

Current repayment	"+t(l)+"
New repayment	"+t(d)+"
Monthly difference	"+t(n)+"
One-off costs	-"+t(i)+"
Cashback	+"+t(a)+"
Break-even period	~"+Math.round(r)+" months
Net saving over remaining term	"+t(u)+"

"}e.addEventListener("click",function(e){e.target.dataset.act==="calc"&&n()}),e.addEventListener("input",function(e){e.target.dataset.f&&n()}),n()})()

How to use

Results refresh as you edit the fields — no need to press Calculate. Adjust any input to test alternative scenarios.

Notes

Only monthly-repayment and interest differences are compared — break costs on fixed-rate exits and other penalty clauses are not included.

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