Refinance Calculator
How to check whether refinancing pays off
- Enter your current balance, rate and years left.
- Enter the new rate, new term and closing costs.
- See the monthly savings, the months until the costs are recovered and the total saved.
Frequently asked questions
Why can a lower payment still cost more?
A longer new term spreads the balance over more years, so you may pay more interest in total even at a lower rate. Compare the total saved, not only the monthly savings.
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