Refinance Calculator

Calculate potential savings from refinancing loans with our easy-to-use tool.

Current Loan

Original Amount of Current Loan

Loan Term

years

Interest Rate

Time Remaining

years

months

New Loan

New Loan Term

years

months

Interest Rate

Points

Cash Out and Cost

Cash Out Amount

Costs

There was an error with your calculation.

Refinance
Savings for the new loan	$278.00/month
lifetime savings for the new loan	$83,400.00
upfront cost	$6,583.26
	CURRENT LOAN	NEW LOAN	DIFFERENCE
Principal/Loan Amount	$279,163.18	$273,579.92	$-5,583.26
Length	300 months	300 months	0 months
Interest Rate	6%	4.5%	1.5%
Monthly Pay	$1,798.65	$1,520.65	$-278.00
Total Payments	$539,595.00	$456,195.00	$-83,400.00
Total Interest	$260,431.82	$182,615.08	$-77,816.74
Points Equivalent To		$5,583.26
Cost + Points (Upfront)		$6,583.26
Cash Out		NA
Take Home Amount After Cost/Point		NA
Time to Recover Cost/Point		23.68 months