Refinance math restarts amortization on your remaining balance (plus optional cash-out or rolled costs) at a new rate and term, then compares monthly payment and total interest to staying on the current path.
Two paths
- Keep the current balance, rate, and months left
- Start a new loan principal at the new rate and term
Sample
$300,000.00 · 6.5% with 300 months left → 5.5% for 360 months → monthly savings about $322.25. Open sample
Related
Frequently asked questions
What does a refinance calculator compare?
Usually the remaining path on your current rate/term versus a new fixed-rate loan, plus optional closing costs.
Sample monthly savings on $300k from 6.5% to 5.5%?
About $322.25 under Nestfigure’s stated sample.
Related tool
Compare refinance free
Current vs new payment and break-even.
Open refinance calculatorSources linked above include U.S. government materials (for example CFPB, FDIC, NCUA, BLS, IRS) where noted. Sample math uses only labeled Nestfigure assumptions—not bank quotes, job offers, or personalized advice. Last reviewed: August 9, 2026.