CI Refinance calculator

This refinance calculator helps homeowners and borrowers evaluate whether refinancing a mortgage, auto, or student loan will reduce monthly payments and total interest. It is designed for anyone considering refinancing who wants to see concrete numbers before applying.

• Current vs. New Loan Comparison: Input your existing loan details (amount, term, interest rate, remaining time) and proposed new loan terms (term, rate, points). The calculator shows side-by-side differences in monthly payment, total payments, and total interest.
• Savings and Cost Breakdown: Displays monthly savings, lifetime savings, upfront costs (including points and fees), and the time in months to recover those costs. This helps you decide if refinancing is worth it.
• Cash-Out and Costs: Option to include a cash-out amount and additional closing costs, so you can see how taking equity affects your new loan balance and overall savings.
• Amortization and Payment Schedule: While not explicitly shown in the scraped content, the description mentions amortization, implying the tool provides a full payment breakdown over the loan term.
• Free and Instant Results: No account or sign-up required. Simply enter numbers and click calculate to get results immediately.