Debt Refinancing Calculator
Compare your current loan against a refinancing offer to see whether it's actually worth it: the new monthly payment, how long it takes to recoup the closing costs, and how much you'd save — or lose — over the life of the debt.
Current loan
The debt you're carrying today
If you leave this blank, the payment is calculated from the balance, rate and remaining term above. Enter your real payment here if it differs (e.g. it already includes escrow).
Refinancing offer
The new loan you're considering
Costs paid upfront are recouped over time through lower monthly payments — that's what the break-even point measures.
Summary
Monthly payment before and after refinancing
Cumulative cost over time
Total amount paid so far under each loan, including any upfront refinancing costs
Side-by-side comparison
Every figure that goes into the decision
| Metric | Current loan | Refinanced loan | Difference |
|---|---|---|---|
| Calculate a refinancing scenario to see the full comparison. | |||
Debt Refinancing Calculator
Compare your current loan against a refinancing offer: the new monthly payment, how long it takes to recoup the closing costs, and how much you'd save — or lose — over the life of the debt.
Current loan
The debt you're carrying today
If you leave this blank, the payment is calculated from the balance, rate and remaining term above. Enter your real payment here if it differs (e.g. it already includes escrow).
Refinancing offer
The new loan you're considering
Costs paid upfront are recouped over time through lower monthly payments — that\u2019s what the break-even point measures.
Summary
Monthly payment before and after refinancing
Cumulative cost over time
Total amount paid so far under each loan, including any upfront refinancing costs
Side-by-side comparison
Every figure that goes into the decision
| Metric | Current loan | Refinanced loan | Difference |
|---|---|---|---|
| Calculate a refinancing scenario to see the full comparison. | |||
How FinanHelp's Debt Refinancing Calculator Works
The math behind the break-even point and lifetime savings above
FinanHelp's debt refinancing calculator does more than compare two monthly payments — it models the full trade-off between what you save each month and what it costs to get there. Two refinancing offers with the same "lower rate" pitch can leave you in very different places once closing costs, the new term, and how those costs are paid are all factored in.
Simply enter your current loan's balance, rate and remaining term, then the new rate, term and closing costs of the offer you're considering. FinanHelp's debt refinancing calculator instantly shows your new payment, the break-even point, and how much you'd save — or lose — over the life of the loan.
Why the break-even point is the number that matters
This debt refinancing calculator's break-even point tells you how many months of lower payments it takes to recoup what you spend on closing costs. Refinance and sell or refinance again before that point, and the new loan may end up costing you more than the one you replaced — no matter how attractive the new rate looks.
Paying costs upfront vs. rolling them into the loan
FinanHelp's debt refinancing calculator lets you toggle how closing costs are handled. Paid upfront, they're recouped over time and produce a clear break-even month. Rolled into the new balance, there's no upfront break-even to track, but the larger principal means slightly higher payments and more interest over the life of the loan.
What the debt refinancing calculator does not model
Rate locks, prepayment penalties on your current loan, and any changes to taxes or insurance escrow aren't factored into these figures. According to the Consumer Financial Protection Bureau, a lender can also cover closing costs by charging a higher rate instead of adding them to your balance — which changes the break-even math entirely, so it's worth asking your lender directly which approach they're using.
Estimate only — not financial advice. Real refinancing offers may include rate locks, prepayment penalties on the current loan, taxes, or insurance changes not modeled here.
