🔄 Loan Refinancing Calculator
Compare your current loan vs refinanced and discover if it's worth it
Loan Comparison
📊 Current Loan
Amount you still owe
Current interest rate
Months left to finish
What you currently pay
🆕 Refinanced Loan
New loan interest rate
Duration of new loan
Fees and processing costs
📊 Comparison Results
Monthly Savings
$0
Total Savings
$0
Break-Even Point
0 months
New Payment
$0
Refinancing Costs
$0
Net Savings
$0
📊 Current Loan
- 💳 Payment: $0
- 💵 Total to pay: $0
- 📊 Interest: $0
- ⏱️ Term: 0 months
🆕 Refinanced Loan
- 💳 Payment: $0
- 💵 Total to pay: $0
- 📊 Interest: $0
- ⏱️ Term: 0 months
📈 Total Payment Comparison
💡 Useful Information
🎯 When to Refinance?
- When new rate is 1-2% lower
- If you have good credit history
- When several years remain on loan
- If costs are reasonable
- To reduce monthly payments
📊 What is Break-Even Point?
- Months needed to recover costs
- Divide costs by monthly savings
- Lower is better
- Ideally less than 24 months
- Key factor in decision
⚠️ Important Considerations
- Fees and notary costs
- Prepayment penalty
- Your current financial situation
- Time you plan to stay
- Income stability