Small Business Accountants, Inc
Refinance Breakeven Calculator
 
Refinance Break-Even Point & Interest Savings Analysis

Instructions: The form below is an automated financial worksheet. Enter your current loan information and the proposed new loan information into the non-colored boxes in the form. The numbers in the colored boxes will automatically re-calculate every time you TAB or CLICK to another data field box in the form. The RED colored boxes relate to your CURRENT loan and the GREEN colored boxes relate to your NEW loan. Change any entry you want and watch the numbers re-calculate in the colored boxes. This makes it easy to quickly analyze different loan rates and terms.

Remember: after you change a number, you must TAB or CLICK into another box on the form for the results to be calculated. Hitting the "Enter" key does nothing.

NOTE: This form is intended for ILLUSTRATIVE PURPOSES ONLY!

NOTE: JavaScript must be enabled on your browser for this form to work.

Enter your CURRENT LOAN Information
Select the Month you started making payments on your current loan:
Enter the Year you started making payments on your current loan:
Enter the Original Amount of your current loan:
Enter the Term of your current loan: years
Enter the Interest Rate of your current loan:  %
Remaining balance of your current loan:
(automatically calculated based on the numbers entered above)
Enter proposed NEW LOAN Information
Enter the Term of the new loan: years
Enter Interest Rate of the new loan:  %
Enter the estimated Closing Costs (including "points," if any):

Break-Even Point Analysis
Your CURRENT monthly payment:
Your NEW monthly payment:
Monthly Savings:
Your Refinance Break-Even Point:
(How long it will take for the payment savings to offset the closing costs paid)

Interest Savings Analysis Current Loan NEW Loan
Number of payments made:
Number of payments remaining:
(as of refinance date)
Total interest paid:
(as of refinance date)
Total unpaid interest:
(as of refinance date)