Loan

Refinance Calculator

Should you refinance your loan? Find out if it saves money

Savings AnalysisBreak-Even PointSmart Decision

Disclaimer

This calculator is for educational purposes only. Results are estimates based on your inputs. Consult a qualified financial advisor for personalized advice. Read full disclaimer

Compare Current vs New Loan

Current Loan Balance ($)

Current Interest Rate (%)

Remaining Term (Years)

New Interest Rate (%)

New Loan Term (Years)

Closing Costs ($)

Refinance Break-Even Point

Calculate when refinancing costs are recovered

Break\ Even = \frac{Closing\ Costs}{Monthly\ Savings}

Where:

Break Even

Months to recover costs

Closing Costs

Total refinancing fees

Monthly Savings

Payment reduction per month

Example:

$3,000 closing costs ÷ $150 monthly savings = 20 months to break even

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