Refinance Savings Calculator

See if refinancing could save you money. Compare your current rate to a new rate and calculate your potential savings.

Current Loan Details

Current Loan Balance: $500,000

$100,000$2,000,000

Current Interest Rate: 7% p.a.

3%10%

Remaining Loan Term: 25 years

5 years30 years

New Loan Details

New Interest Rate: 6% p.a.

3%10%

Estimated Switching Costs

Includes discharge fees, government fees, etc. Typically $500-$2,000.

Monthly Savings

$312.39

Your new repayment: $3,221.51/month

Savings Breakdown

Monthly Saving$312.39

Annual Saving$3,749

Switching Costs-$1,500

Lifetime Saving$92,217

Break-even Point

5 months

After this point, you start saving money compared to your current loan.

Strong savings potential! You could save $92,217 over the life of your loan.

Potential Savings at Different Rates

6.75% (0.25% less)Save $79.34/mo

6.50% (0.50% less)Save $157.86/mo

6.25% (0.75% less)Save $235.55/mo

6.00% (1.00% less)Save $312.39/mo

Could You Get a Better Rate?

We compare rates from 30+ lenders to find your best deal. Book a free refinance assessment to see your options.

Book a Free Assessment

This calculator provides estimates only. Actual savings depend on loan features, fees, and your specific situation. Contact us for a detailed assessment.