Finance
Refinance Calculator
Compare an existing loan with a refinancing option and estimate potential savings.
Tool
Compare an existing loan with a refinancing option and estimate potential savings.
This tool runs in your browser. Your input is processed locally and is not uploaded.
About this Tool
Use this free refinance calculator to compare your existing loan with a new interest rate and term. Enter each loan term in years or months; both are converted to whole months before estimating payment changes, break-even time and potential savings after refinancing costs.
Examples
- Balance 180000, 20 years remaining, new 20-year term, old 5.2%, new 4.1%
- Balance 250000, 18 years remaining, new 15-year term, old 6%, new 4.8%
- Balance 30000, 18 months remaining, new 12-month term, old 8%, new 6.2%
Frequently Asked Questions
What does the Refinance Calculator calculate?
It compares current loan costs with a new refinancing offer.
What can affect the result?
Results depend on the rate, payment timing, term and costs entered. Lender fees, insurance, variable rates and contract rules are excluded unless the calculator explicitly asks for them.
Does this calculator provide financial advice?
No. It provides a mathematical estimate based on the values entered and is not financial, investment, lending, accounting or tax advice.