Just because the rates drop, does not mean you can refinance and save on total cost of the loan. Remember, every time you refinance for a 30 year term, you are adding 30 more years to the loan. That means you may end up paying more in total cost of the loan. This calculator looks at your remaining loan costs and costs with new loan and makes you decide if you can really save. Even if the calculator shows you no savings, there are ways to save and are reserved for one-on-one consultation.