How This Calculator Works
Enter your current loan balance, interest rate, and remaining term.
Input the new loan's interest rate, term, and closing costs.
The calculator shows your monthly savings and break-even timeline.
Compare total interest paid under both scenarios.
Refinance Calculator
Why Use This Calculator
Determine if refinancing saves money
Calculate your break-even timeline
Compare different loan term options
See total lifetime savings
Refinancing economics depend on how long you stay relative to the break-even period for closing costs. Note that extending the loan term can increase total interest paid even with lower monthly payments.
Important Notice
These calculators are for educational and informational purposes only. Results are estimates based on the information you provide and should not be considered financial, tax, or investment advice. Your actual results may vary. For personalized guidance, please consult a qualified financial advisor, tax professional, or other appropriate expert.