Loan Refinance Comparison Calculator
Compare your current loan against a new one to see interest and cost savings
Enter your current loan balance and rate along with the rate and term of the loan you're considering, and this calculator shows the difference in monthly payment and the total interest you'd save. It factors in closing costs such as prepayment penalties, so you can see whether refinancing actually pays off and how many months it takes to break even. All calculations run in your browser — your loan details are never sent to a server.
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🔒 Everything runs 100% in your browser. Your files and input are never uploaded to any server.
How to use
- Enter your current loan balance and any upfront costs, such as a prepayment penalty
- Enter your current interest rate and the rate on the loan you're refinancing into
- Enter your remaining term and the term of the new loan, in months
- Review the monthly savings, total interest saved, and break-even period, then copy the results if you need them
FAQ
- How is the monthly payment calculated?
- It uses standard amortization — a fixed total payment every month covering principal and interest. Actual repayment terms vary by loan product, so treat these figures as an estimate.
- When does the break-even period show "never"?
- If there are upfront costs but the new loan's monthly payment is the same or higher than your current one, there's no monthly savings to recover those costs with, so the result is shown as "never."
- Are my loan details stored anywhere?
- No. Everything is calculated locally in your browser and nothing is transmitted or saved.