Refinance Calculator USA Federal's Refinance Calculator can help you determine whether refinancing your existing loan for a lower interest rate is a wise decision for you. While a lower interest rate will mean lower monthly payments and less total interest, a refinance also means paying closing costs and, in some cases, points. Generally, if the monthly savings exceeds these closing costs, refinancing is a good option. To determine how many months it will take to break even with closing costs, you'll need to enter your loan details into the calculator using the diamond-shaped sliders or by entering the exact numbers in the Current Loan section. Windows XP Users: If the calculator above does not appear you may need to install the free Java plug-in available here. | 
