Loan Refinance Savings Calculator
Compare your current loan to a refinanced loan to see potential monthly and total savings.
- Methods explained
- Save scenarios
- Compare saved scenarios
Current Loan
$
%
300 months
New Loan
%
30 years
$
Refinance Comparison
Current Loan
Monthly Payment$1,478
Total Remaining$443,395
New Loan
Monthly Payment$1,199
Total Payments$431,676
Monthly Savings$279
Break-Even Point1
Total Savings$6,718
Refinancing is recommended - you will save money over the life of the loan.
How it works›
Model and assumptions. Compares modeled loan payments, interest and entered fees across the alternatives. A lower payment can result from a longer term and need not mean a lower total cost. Costs reflect the entered assumptions; taxes, lender approval and unentered charges are excluded.OpenStax: annuity formulas