Decide whether refinancing a loan is actually worth it. Enter your current loan balance, interest rate and remaining term, then the new rate, new term and any closing costs, and the calculator compares the two side by side. It shows your new monthly payment, how much lower or higher it is than now, the total interest under each option, and the break-even month where your monthly savings finally outweigh the closing costs you paid. That break-even figure is the number most people forget, and it decides whether a refinance saves money or just moves it around, especially if you might sell or move before you reach it. Test different rates and terms to find the real deal. All math runs locally in your browser.