Compare All Your Mortgage Options
Eight strategies, one set of your figures, ranked over the years you actually plan to stay. This is the full engine — the focused calculators each answer one slice of what is on this page.
Private by design. Your numbers stay on this device.
Educational estimates only. Not financial, tax, or lending advice.
What this compares
Keeping your current mortgage, a rate-and-term refinance, a cash-out refinance, a HELOC, a fixed home equity loan, a recast, extra principal payments, and keeping the mortgage while investing the difference. Every one is priced on the same balance, the same rate, the same horizon — which is the only way the comparison means anything.
The ranking turns on how long you stay far more than on the rate. A refinance that saves $180 a month and costs $7,000 to close is a poor deal over four years and a good one over twelve, and no amount of rate shopping changes that.
Built for US mortgages. Every rate, cost and tax figure below is an editable example you enter — never a live quote.
Refinance decision
- Today
- $2,767/mo
- Rate & term refi
- $2,623/mo
- Break-even
- Month 29
- Staying
- 7 years
Your decision dashboard
Each card shows which scenario leads on one measure over your 7 years planned stay — and what you give up to get it. There is no single best option, because these measures pull against each other.
Lowest monthly payment
Rate-and-term refinance
$2,623/mo all-in
Trade-off: A lower payment usually means a longer term or a bigger balance, which can raise what you pay in total.
Lowest cost over your planned stay
Rate-and-term refinance
$449,929
Trade-off: This counts payments made plus the balance still owed at the end of your stay, minus any cash you received. It can still carry a higher monthly payment.
Fastest payoff
Rate-and-term refinance
25 years
Trade-off: Paying off soonest normally requires the highest monthly outlay and ties up cash you cannot easily get back.
Lowest closing cash needed
Keep current mortgage
$0
Trade-off: Paying little or nothing upfront often means costs are financed into the balance, where they accrue interest.
Scenario by scenario
Keep current mortgage
Change nothing. No closing costs, no new loan, and your existing rate and payoff date stay exactly as they are.
- All-in monthly
- $2,767
- Cost over your stay
- $465,286
- vs keeping your loan
- Baseline
- Break-even
- —
Rate-and-term refinance
Replace your mortgage with a new 25-year loan at 5.75%.
- All-in monthly
- $2,623
- Cost over your stay
- $449,929
- vs keeping your loan
- +$15,357
- Break-even
- Month 29
Full comparison
Every measure, side by side, over the 7 years you expect to stay. Scroll the table sideways on a narrow screen.
| Measure | Keep current | Rate & term refi |
|---|---|---|
| Interest rateThe rate on the new or largest loan in this scenario. | 6.875% | 5.75% |
| Starting loan balance | $320,000Low | $327,500 |
| Starting LTV (loan-to-value) | 71.1% | 72.8% |
| Principal & interest | $2,204 | $2,060Low |
| Extra principalVoluntary principal on top of the scheduled payment. Part of what you pay each month, so it belongs in the all-in figure. | — | — |
| PMI | — | — |
| Property tax + insuranceIdentical across every scenario for the same home, but a real part of the monthly bill. | $563 | $563 |
| Monthly HOA dues | — | — |
| All-in monthly payment | $2,767 | $2,623Low |
| Total closing costs | NoneLow | $7,500 |
| Cash needed at closingClosing costs paid in cash, plus any lump sum you contribute. | $0Low | $0Low |
| Cash received | None | None |
| Interest over 7 years | $145,286 | $122,429Low |
| Balance left after 7 yearsWhat you would still owe when you expect to sell or refinance again. | $280,138 | $276,862Low |
| Equity after 7 yearsHome value less the balance owed. Uses your assumed appreciation rate, which is 0% unless you change it — it is never used to remove mortgage insurance early. | $169,862 | $173,138Low |
| Invested balance after 7 yearsOnly the growth on this account is credited against net cost. The contributions are money you paid in, so counting the whole balance would count them twice. | — | — |
| Net cost over your planned stayCash closing costs + payments made + balance still owed − cash received. Excludes property tax, insurance and HOA, which are identical across scenarios. | $465,286 | $449,929Low |
| Savings vs keeping your mortgageThis is not the same as interest saved: it also counts the balance you still owe at the end of your stay and any cash you paid upfront. The row above reconciles the two. | Baseline | +$15,357Low |
| Why that differs from interest saved | — | $22,857 less interest, less $7,500 of extra balance you start out owing — leaving you $15,357 better off. |
| Break-even point“Ahead from month 1” means there was no upfront cost to recover. “Never recovers” means the costs are never paid back. | — | Month 29 |
| Simple paybackUpfront cash divided by the monthly payment saving. This is the number most people mean by break-even, and it flatters a refinance: it ignores the principal you stop paying down when the term restarts. The equity-adjusted figure above is the one to rank on. | — | No upfront cash to recover |
| Time to payoff | 26 years | 25 yearsLow |
| Total interest, full term | $367,691 | $290,598Low |
| Lifetime cost (interest + costs) | $367,691 | $298,098Low |
How to read this: “Low” marks the lowest figure among the scenarios shown — it is not a recommendation. Net cost counts payments made plus the balance still owed at the end of your stay, minus cash received, which is what makes loans of different sizes and terms comparable.
Charts
Mortgage balance over time
What you still owe each month under every selected scenario, including any second lien. The dashed line marks the end of your planned stay.
Cumulative interest paid
Total interest paid to date. A line that flattens has reached payoff. Where lines cross is where one scenario overtakes another on interest.
Break-even: cumulative savings against keeping your mortgage
Above the zero line a scenario has saved you money overall; below it, it has cost you. Each marker is that scenario's break-even month — where its line crosses zero.
Rate & term refi: breaks even in month 29 (2 years 5 months).
What your first monthly payment is made of
Principal and interest is only part of the bill. Property taxes, insurance, mortgage insurance and HOA dues are stacked here at their month-one amounts.
What each scenario actually means
Keep current mortgage
- This is the baseline every other scenario is measured against.
Rate-and-term refinance
- A rate-and-term refinance replaces your entire existing mortgage balance with a new loan. No cash is taken out.
- Closing costs are financed, so you pay interest on them for the life of the loan and your balance starts higher than it is today.
Want the terminology behind these figures? The mortgage glossary defines every term used here, including break-even point, LTV and mortgage recast.
Full amortization schedule
Every payment, month by month: how much goes to interest, how much retires principal, and what you still owe afterwards. The last money column is the all-in cost — principal, interest, any extra you send, mortgage insurance, property tax, homeowners insurance and HOA dues — which is the figure that actually leaves your account. Switch to the annual view for a year-by-year summary, or download the full schedule as a CSV that opens in Excel, Google Sheets and Numbers.
| Month | Payment date | Beginning balance | Payment | Principal | Interest | Extra principal | Ending balance | Cumulative interest | Mortgage insurance | Taxes & insurance | HOA | Total monthly cost | LTV |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Jan 01, 2026 | $320,000.00 | $2,204.15 | $370.82 | $1,833.33 | — | $319,629.18 | $1,833.33 | — | $562.50 | — | $2,766.65 | 79.9% |
| 2 | Feb 01, 2026 | $319,629.18 | $2,204.15 | $372.94 | $1,831.21 | — | $319,256.24 | $3,664.54 | — | $562.50 | — | $2,766.65 | 79.8% |
| 3 | Mar 01, 2026 | $319,256.24 | $2,204.15 | $375.08 | $1,829.07 | — | $318,881.16 | $5,493.61 | — | $562.50 | — | $2,766.65 | 79.7% |
| 4 | Apr 01, 2026 | $318,881.16 | $2,204.15 | $377.23 | $1,826.92 | — | $318,503.93 | $7,320.53 | — | $562.50 | — | $2,766.65 | 79.6% |
| 5 | May 01, 2026 | $318,503.93 | $2,204.15 | $379.39 | $1,824.76 | — | $318,124.54 | $9,145.29 | — | $562.50 | — | $2,766.65 | 79.5% |
| 6 | Jun 01, 2026 | $318,124.54 | $2,204.15 | $381.56 | $1,822.59 | — | $317,742.98 | $10,967.88 | — | $562.50 | — | $2,766.65 | 79.4% |
| 7 | Jul 01, 2026 | $317,742.98 | $2,204.15 | $383.75 | $1,820.40 | — | $317,359.23 | $12,788.28 | — | $562.50 | — | $2,766.65 | 79.3% |
| 8 | Aug 01, 2026 | $317,359.23 | $2,204.15 | $385.95 | $1,818.20 | — | $316,973.28 | $14,606.48 | — | $562.50 | — | $2,766.65 | 79.2% |
| 9 | Sep 01, 2026 | $316,973.28 | $2,204.15 | $388.16 | $1,815.99 | — | $316,585.12 | $16,422.47 | — | $562.50 | — | $2,766.65 | 79.2% |
| 10 | Oct 01, 2026 | $316,585.12 | $2,204.15 | $390.38 | $1,813.77 | — | $316,194.74 | $18,236.24 | — | $562.50 | — | $2,766.65 | 79.0% |
| 11 | Nov 01, 2026 | $316,194.74 | $2,204.15 | $392.62 | $1,811.53 | — | $315,802.12 | $20,047.77 | — | $562.50 | — | $2,766.65 | 79.0% |
| 12 | Dec 01, 2026 | $315,802.12 | $2,204.15 | $394.87 | $1,809.28 | — | $315,407.25 | $21,857.05 | — | $562.50 | — | $2,766.65 | 78.8% |
Showing 1–12 of 312 payments
Download any scenario
Each file is generated in your browser — nothing is uploaded. Scenarios with a second lien include a separate block for each loan.
Educational estimates only. Not financial, tax, or lending advice. Every rate here is an example you enter, never a live quote or an offer. Verify loan terms, closing costs, property taxes, insurance and mortgage insurance with qualified providers before deciding.