TopToolsAiCompare your current mortgage payment against a new rate to see how much refinancing could save you per month and over the remaining term. Refinancing a PKR 10,000,000 balance from 12% down to 9.5% on a 15-year remaining term can lower the monthly payment by tens of thousands of rupees, though it is worth weighing that saving against any refinancing fees before switching.
Last updated: 1 Sep 2026
How to use Mortgage Refinance Savings Calculator
- Enter your remaining mortgage balance and remaining years.
- Enter your current interest rate and the new rate you're considering.
- Click "Compare" to see your monthly savings and total savings over the loan.
Frequently asked questions
How do I know if refinancing is worth it?
Compare the monthly savings shown here against any closing costs your lender quotes you — if it takes too many years to break even, it may not be worth it if you plan to move or pay off the loan sooner.
Does this include closing costs?
No — this compares monthly payments at the old and new rate only. Ask your lender for closing costs separately and weigh them against the monthly savings shown.
Does refinancing reset my loan term?
Yes, typically — refinancing starts a new loan, so unless you specifically choose a shorter term, you may end up paying interest for longer overall despite the lower rate.
What credit score do I need to refinance?
Requirements vary by lender, but a higher credit score usually unlocks a better rate — check with lenders directly for current requirements.
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