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Loan Refinancing Calculator 🔄

Evaluate whether refinancing a loan makes sense by comparing new vs. current terms.

Inputs
Adjust the values below to calculate your results
Current vs Refinanced
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Results
Your calculated results based on the inputs provided

Current Monthly Payment

$610.32

New Monthly Payment

$471.78

Monthly Savings

$138.54

Per month

Break-Even

15.00 months (1.3 yrs)

To recoup $2,000.00 in closing costs

Total Interest Saved

$988.66