Refinance Calculator

Compare current and refinance loan payments and estimate break-even after closing costs.

Refinance Calculator helps you compare your current loan payment with a refinance offer, including closing costs. Enter current balance, current rate, years remaining, new rate, and new term (years), review the breakdown, and use the guidance below to understand what the number means — and what it does not. What the Refinance calculator does Refinance Calculator is built for money decisions — loans, savings, payments, and taxes. Compare your current loan payment with a refinance offer, including closing costs. You enter current balance, current rate, years remaining, new rate, and new term (years), then Simple Calculators computes the result instantly. Rates, fees, and tax rules vary by lender and country, so treat results as planning numbers, not a contract. How the math works Both loans use amortizing payments. Break-even months = closing costs ÷ monthly payment savings. The formula: Break-even months = closing costs ÷ (current payment − new payment). Only meaningful when the new payment is lower than the current one.