Refinance Calculator
Analyze mortgage refinancing benefits
Calculate actual savings from refinancing by comparing interest savings against prepayment fees. Use this to decide whether to refinance when rates drop.
🔄 What is Refinancing?
Refinancing means replacing your current loan with a new one at a lower rate. Consider refinancing when rates drop 0.5%+ below your current rate. However, factor in prepayment fees, stamp duty, and registration costs to determine actual benefit.
🏠 Mortgage Calculator
Monthly Payment
152만원
Total Payment
5.5억원
Total Interest
2.5억원
82.4% of principal
📊 Principal vs Interest
Principal
3.0억원
Interest
2.5억원
📅 Payment Schedule
| Year | Annual Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | 18,240,671원 | 4,839,680원 | 13,400,991원 | 3.0억원 |
| 2 | 18,240,671원 | 5,062,014원 | 13,178,657원 | 2.9억원 |
| 3 | 18,240,671원 | 5,294,562원 | 12,946,109원 | 2.8억원 |
| 4 | 18,240,671원 | 5,537,793원 | 12,702,878원 | 2.8억원 |
| 5 | 18,240,671원 | 5,792,199원 | 12,448,472원 | 2.7억원 |
| 6 | 18,240,671원 | 6,058,291원 | 12,182,380원 | 2.7억원 |
| 7 | 18,240,671원 | 6,336,608원 | 11,904,063원 | 2.6억원 |
| 8 | 18,240,671원 | 6,627,711원 | 11,612,960원 | 2.5억원 |
| 9 | 18,240,671원 | 6,932,187원 | 11,308,484원 | 2.5억원 |
| 10 | 18,240,671원 | 7,250,650원 | 10,990,021원 | 2.4억원 |
| ... Total 30 years | ||||
💰 Interest Rate Comparison
| Rate | Monthly | Total Interest | Difference |
|---|---|---|---|
| 3.5% | 1,347,134원 | 1.8억원 | -62,251,872원 |
| 4.0% | 1,432,246원 | 2.2억원 | -31,611,616원 |
| 4.5% | 1,520,056원 | 2.5억원 | +0원 |
| 5.0% | 1,610,465원 | 2.8억원 | +3255만원 |
| 5.5% | 1,703,367원 | 3.1억원 | +6599만원 |
Mortgage Calculation Result
Monthly 152만원
✨ Total interest 2.5억원Loan 3.0억원, 4.5% rate, 30 years
💡 Figure it out together
Better when calculated together
#MortgageCalculator #HomeLoan #InterestRate
Important Note
This calculator is for reference only. Actual loan terms may vary based on lender, credit score, and collateral value. Contact your financial institution for accurate information.
📐 Refinance Benefit Calculation
Interest Savings = (Old Rate - New Rate) × Balance × Remaining Term
Refinance Cost = Prepayment Fee + Stamp Duty + Registration
Net Benefit = Interest Savings - Refinance Costs
📝 How to Calculate
- Enter current loan balance and rate
- Enter remaining loan term
- Enter new loan rate
- Check prepayment fee rate (typically 1.4-1.5%)
- Compare total savings vs costs
📊 Refinance Simulation ($250K balance, 20yr remaining)
| Rate Reduction | Annual Savings | 20yr Total | Prepay Fee(1.5%) | Net Benefit |
|---|---|---|---|---|
| 0.5%p | $1,250 | $25,000 | $3,750 | $21,250 |
| 1.0%p | $2,500 | $50,000 | $3,750 | $46,250 |
| 1.5%p | $3,750 | $75,000 | $3,750 | $71,250 |
| 2.0%p | $5,000 | $100,000 | $3,750 | $96,250 |
💡 Refinance Checklist
- Consider refinancing when rate difference is 0.5%+
- Check prepayment fee waiver period (usually after 3 years)
- Larger balances mean greater refinance benefits
- Longer remaining terms mean more interest savings
- Good credit score can negotiate lower rates
❓ FAQ
Typically 1.4-1.5% of balance within 3 years of the loan. Many banks waive fees after 3 years. Contact your bank for exact fees.
Loan inquiries may temporarily lower your score slightly, but since you're paying off existing debt, overall impact is minimal.
Yes, you can request a rate reduction from your current bank. This often avoids prepayment fees while lowering your rate.
📚 Guía local de cálculo
Lógica de fórmula
Se aplican fórmulas públicas de finanzas, préstamos, ratios y conversión.
Alcance de fuentes
Tomamos como referencia estándares públicos y prácticas habituales por país.
Supuestos
Impuestos, comisiones, tasas y límites cambian según región e institución.
Result Interpretation
Usa este resultado como escenario base. Antes de decidir, compáralo con oferta real y fiscalidad local.
Configuración local
Moneda: EUR
Unidades: metric
Modelo fiscal: US payroll estimate
Aviso normativo
Esta herramienta usa valores locales para estimación. Las condiciones reales y límites legales dependen de la entidad y del país.
Acciones recomendadas
- Compara al menos 2-3 entidades locales antes de contratar.
- Verifica por escrito comisiones, impuestos y cláusulas de prepago.
- Simula un escenario de estrés con +1-2% de interés.
Antes de decidir, verifica las reglas actualizadas de la entidad local.