How to use this calculator
Compare remaining nominal payments under your current loan with a refinancing offer, and compare discounted payment streams using an annual rate you choose. New refinance fees are financed into the new loan balance.
Compare total costs and monthly payments
Extending the term can lower your monthly bill while increasing the total amount paid. Review both figures before deciding.
How the model works
Both loans use standard fixed-rate monthly amortization. New refinance fees are added to the outstanding principal. Present values discount future monthly payments using the annual discount rate you enter; the default 4% is illustrative and not a guaranteed return.
Things to verify
Some lenders charge title fees or prepayment penalties or use different interest conventions. The model assumes consistent payments, and it does not check qualification or credit-score impacts.
Useful resources, not just numbers.
These independent references can help you find better inputs or understand the decision. External links open the publisher’s website; none is a paid placement.
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