Loan refinancing calculator
Refinancing pays off when the interest saved over the remaining term exceeds the fees for closing the old loan early and taking out the new one. The calculator shows the saving; compare it with the fees in both agreements.
Refinancing calculator
Compare your current loan with a new offer. The calculator shows how much you'll save (or overpay) by refinancing.
Current loan
New loan
Old payment
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New payment
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Monthly save
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Total save
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Refinancing makes sense when the rate gap is ≥ 3 percentage points and remaining term is ≥ 12 months. Factor in early-closure fees (typically 0-1%) and new loan origination fees (1-3%).
What it covers
- outstanding balance and term
- old and new rate
- payment difference and total saving
What it leaves out
- the early-closure fee on the old loan
- fees and insurance on the new loan
Rates in this calculator were checked on 5 October 2026 · all rates and sources