Estimated result
Enter assumptions and select Calculate.
Current and new loan model
Both payments use the ordinary fixed-rate principal-and-interest formula. Current payment is derived from the current balance, rate, and remaining term. Paid-upfront costs are added to lifetime cost; financed costs increase the new principal.
Break-even boundary
For upfront costs and positive monthly savings, simple payment-savings break-even equals closing costs divided by monthly payment savings. It is not a net-present-value analysis. Break-even is not shown for financed costs.
Worked example
For a $300,000 balance at 7% with 25 years remaining, compare a 20-year refinance at 6% and $6,000 upfront costs. The result separates payment savings, interest, lifetime cost, and simple upfront-cost break-even.
Estimate boundaries
Results depend entirely on entered assumptions. They do not retrieve lender terms, approval decisions, issuer data, live rates, routes, fuel prices, or professional financial advice.