Refinance savings
Is a lower rate actually worth the move?
Enter your current loan balance and rate, plus a rate you are considering, to see the estimated monthly and total difference over the remaining term.
Both rates are examples you enter, not offers from LoanTorq or any lender.
Monthly saving
$249/mo
$3,470/mo now vs $3,222/mo at the new rate
Saved over the remaining term
$74,656
Over 25 yrs, before any switching costs
How this works
This calculator compares the standard repayment on your current balance at your current rate against the same balance and remaining term at a different rate. The difference each month, multiplied by the number of months remaining, gives the indicative total saving (or extra cost, if the new rate is higher).
It does not include the real costs of refinancing, such as discharge fees, new lender establishment or valuation fees, lenders mortgage insurance if your equity position has changed, or government charges. A genuine refinance review weighs the saving against those costs, which is exactly what a Clarity Call with David is for.
General information only, illustrative only. This calculator is not a quote, a pre-approval or a form of credit assistance. The numbers you enter are examples; actual rates, fees and whether refinancing is worthwhile depend on the lender, its current policy and your individual circumstances.
The Clarity Call
Find out where you actually stand.
A 20-minute conversation with David about your loan, your equity and your options. It’s a conversation, not an application. No documents, and nothing goes on your credit file. If it turns up something worth pursuing, you’ll have a clear next step. And if the honest answer is ‘not yet’, you’ll hear that too. The straight answer is the point, either way.
Book my Clarity CallSee how we could helpNo cost · No obligation · No credit enquiry · A straight answer either way