Cash-Out Refinance Break-Even Calculator
Pulling equity out of your home changes both your monthly payment and your total interest cost. This calculator compares your current mortgage to a new cash-out refinance, factoring in closing costs, the cash withdrawn, and rate change, then shows the break-even month and long-run interest difference.
About this calculator
Calculate how long it takes for a cash-out refinance to pay for itself in closing costs, and see total interest impact over your remaining loan term.
Frequently Asked Questions
What counts as break-even for a cash-out refinance?
Break-even is the point where the cumulative extra monthly payment cost equals the closing costs you paid, assuming you keep the cash rather than reducing the loan balance.
Does this include the cost of the cash withdrawn?
Yes, the cash-out amount is added to your new loan balance along with closing costs, since both increase what you owe and pay interest on.
Should I also compare total interest?
Yes — even if your monthly payment barely changes, extending your term or borrowing more can significantly increase total lifetime interest, which this calculator shows separately.