Step 1 — Current loan snapshot
- Current balance.
- Current rate.
- Current monthly P&I.
- Months remaining.
- Estimated property value.
Refi analysis · Editable worksheet
Refinance Savings Worksheet
Calculate break-even, cash-out scenarios and monthly savings before locking your new rate.
Step 2 — New loan estimate
- New rate quoted.
- New term.
- New monthly P&I.
- Total estimated closing costs.
Step 3 — Monthly savings
Monthly savings = current P&I − new P&I.
Step 4 — Break-even months
Break-even = closing costs ÷ monthly savings. If you plan to keep the property longer than this, refinance wins.
Step 5 — Cash-out scenario
- Property value × max LTV (usually 80%).
- Minus current balance.
- Gross cash-out available.
- Net after closing costs.
Common refi triggers worth modeling
- Rate dropped 0.75% or more from your current rate.
- You can remove PMI (LTV now below 78%).
- Switching from ARM to fixed before adjustment.
- Shortening term from 30 to 15 years.
- Consolidating high-interest debt.
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Refi analysis
Refinance Savings Worksheet
Calculate break-even, cash-out scenarios and monthly savings with our editable worksheet.
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