Refinance Calculator
See if refinancing your rental property makes sense. Compare payments, calculate savings, and find your break-even point.
Property & Loan Details
Monthly Savings / Cost
New Monthly Payment (P&I)
$0.00/mo
Break-Even
—
Enter your loan details to see the result.
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See new loan amount, cash received, remaining equity, LTV, total interest, break-even, and more.
Full Breakdown
New Loan Amount
$320,000.00
Cash Received (after costs)
$85,000.00
Remaining Equity
$280,000.00
New LTV
53.3%
Total Interest (new loan)
$412,000.00
Break-Even (closing costs)
18 months
Closing Costs ($)
$12,800.00
Save & export available in the app
Mortgage Refinance Calculator for Rental Properties
Refinancing a rental property means replacing your existing mortgage with a new one — typically to lower your interest rate, reduce your monthly payment, or pull cash out of your equity. A cash-out refinance lets you access the equity you’ve built up without selling the property, giving you capital for your next investment.
Refinancing makes sense when the new interest rate is significantly lower than your current rate, when you need liquidity for another deal, or when you want to switch from an adjustable-rate to a fixed-rate loan. The key question is: does the monthly savings justify the closing costs?
The break-even point tells you how many months it will take for the monthly savings to pay back the closing costs. For example, if you save $200/month and closing costs are $6,000, your break-even is 30 months. If you plan to hold the property longer than that, refinancing is likely a good move.
Run a full refinance analysis with EasyPlan — free to start.
Frequently Asked Questions
When does refinancing make sense?
Refinancing makes sense when you can lower your interest rate by at least 0.5–1%, when you need to pull cash out for another investment, or when you want to switch from an adjustable-rate mortgage (ARM) to a fixed-rate loan for payment stability. Always compare the monthly savings against the closing costs to calculate your break-even point.
What is the break-even point?
The break-even point is how long it takes for your monthly savings to cover the closing costs of refinancing. For example, if closing costs are $5,000 and you save $150/month, your break-even is about 34 months. If you plan to own the property longer than that, refinancing is financially beneficial.
Does refinancing affect my cash flow?
Yes, refinancing directly affects your cash flow. A lower monthly payment increases your net operating income and monthly cash flow. If you do a cash-out refinance, your loan balance and monthly payment may increase, which reduces cash flow — but you gain liquidity you can deploy elsewhere. Always model both scenarios to see the net impact.