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Refinance Savings

Compare total scheduled interest for two loan rates.

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Illustrative calculations only. Check assumptions, fees, tax treatment and jurisdiction-specific rules before making financial decisions.

Important assumptions

Rates are constant over the period unless otherwise specified. Calculations are estimates, not financial advice. No personal information is transmitted for calculation.

Formula & assumptions

Savings = (old monthly payment − new monthly payment) × n, before fees. Payment = P × i / (1 − (1+i)^−n).

Notation: P = principal; i = annual percentage rate / 1200; n = years × 12. Use one currency throughout. Returns and rates are user assumptions, not live forecasts. Tax and fees apply only when explicitly entered.