The question
Does refinancing this loan actually put me ahead?
Monthly savings against the cost, and how long you'll keep the loan.
What we know
Pulled from My Stuff. Nothing is re-asked.
Nothing on file yet that bears on this decision. You can still work it through here — or add a few things in My Stuff so every future decision starts warmer.
What we still need
Only the things that genuinely move the answer. Approximate is fine — leave anything blank and it stays a stated assumption, never an invented number.
Stated assumptions
- Assuming current rate not provided.
- Assuming no quoted rate — the break-even is a formula, not a figure.
- Assuming closing costs unknown — break-even can't be pinned down yet.
- Assuming how long you'll keep this loan not provided.
CredABLE won't turn these into an authoritative-looking figure. Where a number decides the answer, it will say so and ask.
Options
Real alternatives. Very few of these decisions are actually yes or no.
Refinance at the quoted terms
Worth it if you pass break-even well before you sell.
Refinance with a shorter term
Higher payment, far less total interest.
Cash-out refinance
Different decision — you're borrowing more, not just cheaper.
Keep the loan
Often right if the current rate is low.
Impact
What CredABLE will compare the options on.
What changes the answer
Assumptions that can flip the recommendation, stated up front.
- Break-even: closing costs divided by monthly savings. Past it before you leave, or it's a loss.
- Whether the new loan resets the clock on a term you were most of the way through.
- The rate you're actually approved for after the credit pull.
CredABLE's take
A clear read on your version of this, plus the next move.
You'll get one interpretation, not a shrug — and every assumption behind a number will be written in front of it.
Save this scenario
Come back to it, or compare it against another.
Examples: “$650k house”, “Pay off cards”, “HELOC option”, “Investment property #1”.