Debt Refinancing Calculator: Compares refinancing options showing total interest savings.
The Debt Refinancing Calculator compares refinancing options showing total interest savings, analyzing different interest rates, terms, and installments to help the user make smarter financial decisions and reduce costs on existing debts.
Debt Refinance Calculator
Current Debt
$
%
#
Standard for US loans is usually Fixed Payment.
Refinance Proposal
%
#
$
These costs will be subtracted from savings.
Total Net Savings
$0.00
Break-even: --
New Monthly Payment
$0.00
Diff: $0.00
Total Interest (New)
$0.00
Includes fees
| Metric | Current Debt | Refinanced | Difference |
|---|---|---|---|
| Monthly Payment | - | - | - |
| Total Interest | - | - | - |
| Total Cost (Principal + Int + Fees) | - | - | - |
| Payoff Date (Est.) | - | - | - |
How to Use
Enter your current loan balance, interest rate, and remaining months. Then, enter the terms offered by the new lender. Click "Calculate" to see if you will save money. The calculator considers upfront fees to determine your true savings.
Glossary
- Principal: The amount of money you originally borrowed or still owe.
- APR/Rate: Annual Percentage Rate. The cost of borrowing money on a yearly basis.
- Amortization: The process of paying off debt over time through regular payments.
- Break-even Point: The time it takes for the monthly savings to exceed the cost of refinancing.
Disclaimer: This calculator is for educational purposes only. Results are estimates based on the information you provide. It does not constitute financial advice. Actual rates and savings depend on your credit score and lender.
