calculate refinance savings
mortgage refinance calculator
break even point calculator
lower monthly payment calculator
Refinance Calc
Is refinancing worth the cost? Calculate your monthly savings and the break-even point.
Last Updated: March 1, 2025
# What is Refinance Calc?
A Refinance Calculator compares your current existing loan with a proposed new loan to determine if the savings outweigh the closing costs.
# How Does Refinance Calc Work?
- 1Enter Current Loan details (Balance, Rate, Payment).
- 2Enter New Loan details (Rate, Term, Costs).
- 3See the 'Break Even' month.
- 4View total lifetime savings.
# Common Use Cases
Mortgage refinancing when rates drop.
Auto loan refinancing.
Consolidating debt.
# Why Use This Tool?
Break-Even Analysis: 'It takes 18 months to recover costs'.
Cash Flow: See change in monthly budget.
Net Savings: Total saved after fees.
Trusted & Secure
• Calculations are performed entirely in your browser.
• No signup, no data storage, no tracking.
• Formulas based on standard financial principles.
# Frequently Asked Questions
What is refinancing?▼
Replacing an existing debt obligation with another debt obligation under different terms.
When should I refinance?▼
When you can lower your interest rate by 0.75-1% or more, or need to lower monthly payments due to cash flow issues.
Does refinancing hurt credit?▼
It causes a small temporary dip due to the hard inquiry, but consistent payments on the new loan will rebuild it quickly.
Last updated: March 2025 • v2.1.0 • Privacy First • Secure & Encrypted