Finance & Money
Refinance Calculator - Estimate Savings
Compare your current loan with a refinance option and estimate savings.
Formulas and edge cases are reviewed against authoritative references before publication. For methodology, editorial standards, or corrections, use the links below.
Frequently asked questions
What are closing costs?
Closing costs include lender fees, appraisal, and other charges to refinance.
What does break-even mean?
Break-even is the time needed for monthly savings to cover closing costs.
Does a longer term lower payments?
Yes, but it can increase total interest paid over the life of the loan.
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About this tool
This Refinance Calculator turns your inputs into practical results. Provide Current rate, Closing costs, and Current balance to calculate Current payment and New payment.
Adjust values to compare scenarios and see how sensitive the result is. The calculation uses the numbers as entered, so double-check units and expect small differences from rounding in the displayed totals.