To calculate refinancing loan total cost, monthly payment and saving , please follow the below steps:
Step 1: Input the amount of monthly payment
Step 2: Input the the current interest rate
Step 3: Input the remains to pay (in years)
Step 4: Input the refinancing amount
Step 5: Input the interest rate, loan term & commission for each loan respectively
Step 6: Click “Calculate” button
Step 7: The refinance loan cost, monthly payment, monthly saving & total cost for loan is calculated as shown in the bottom.