Finance Tools
Refinance Rate Savings Calculator
Estimate how much you could save by refinancing to a lower interest rate based on payment difference and time horizon (rate-only view).
This is a rate-only refinance savings estimate. It compares monthly payments at your current rate vs a new refinance rate and estimates savings over your chosen time horizon (excluding closing costs and fees).
How to use this refinance rate savings calculator
- Enter your remaining loan balance and remaining term (years).
- Enter your current interest rate and the new refinance rate you’re considering.
- Enter how long you plan to keep the loan (months or years).
- Click Calculate to see monthly savings and estimated savings over your time horizon (rate-only).
Example
Suppose you want to estimate savings if you refinance to a lower rate.
- Remaining balance: $280,000, remaining term: 27 years
- Current rate: 7.00%
- New rate: 6.25%
- Planned time horizon: 5 years
- This tool estimates monthly savings and 5-year savings (excluding fees).
More tools in Finance Tools
- Refinance Calculator
Compare your current mortgage with a new refinance offer and see monthly savings, total interest saved, and breakeven point.
- Mortgage Points Break-Even Calculator
Calculate how long it takes to break even when you pay discount points to get a lower mortgage interest rate.
- Mortgage Calculator
Estimate your monthly mortgage payment based on loan amount, interest rate, and term.
- Home Affordability Calculator
Estimate how much house you can afford based on your income, debts, and loan terms.