Does it pay to refinance your mortgage?
Compare your current loan with a new loan after tax. We calculate the redemption, the new loan's costs and the net gain month by month.
You save about DKK 1,034 a month after tax in the first year.
You have earned back the costs after 10 months.
- Payment before (first month)
- DKK 12,321
- Payment after (first month)
- DKK 10,699
- Difference per month after tax (year 1)
- DKK 1,034
- New principal
- DKK 2,014,306
- Change in outstanding debt
- DKK 14,306
- Contribution rate before → after
- 0.75% → 0.572%
Totalkredit states that all private customers with a Totalkredit loan can get a KundeKroner discount of 0.25% of the outstanding debt per year until 31/12/2029. What happens after that has not been decided – we assume 0% from 2030.
What we have assumed
- The redemption fee is set to DKK 1,250 (the highest we know).
- The loan is repaid at a price of 100. This requires notice to a payment date, and you pay interest until that date – this is not included here.
- Registration duty is calculated as if your old mortgage deed is for the outstanding debt. If it is for more, the duty will be lower.
- Any bank fee for the refinancing is not included. Ask your bank.
- Net gain = the difference in outstanding debt + what you have saved (or paid extra) after tax. The future market value of the debt is unknown and not included.
Net gain over time
| After | Net gain | Saving after tax | Debt before | Debt after |
|---|---|---|---|---|
| 1 yrs | DKK 3,328 | DKK 12,411 | DKK 1,966,379 | DKK 1,975,462 |
| 3 yrs | DKK 37,686 | DKK 36,561 | DKK 1,893,888 | DKK 1,892,763 |
| 5 yrs | DKK 65,245 | DKK 54,358 | DKK 1,813,789 | DKK 1,802,902 |
| 10 yrs | DKK 127,020 | DKK 94,918 | DKK 1,574,814 | DKK 1,542,712 |
| Full term (28 yrs) | DKK 259,660 | DKK 259,660 | DKK 0 | DKK 0 |
Horizontal axis: years. Left axis: net gain. Right axis: outstanding debt.
Redemption of your current loan
| Method | At a price of 100 |
|---|---|
| Price | 100 |
| Price premium | 0 points |
| Market value | DKK 2,000,000 |
| Commission | DKK 0 |
| Redemption fee | DKK 1,250 |
| Total | DKK 2,001,250 |
The new loan at Totalkredit
| Price loss | DKK 0 |
|---|---|
| Price deduction | DKK 4,029 |
| Settlement commission | DKK 3,021 |
| Arrangement commission | DKK 0 |
| Processing fee | DKK 4,000 |
| Registration duty | DKK 2,005 |
| Redemption fee and bank fee | DKK 1,250 |
| Total (incl. price loss) | DKK 14,305 |
| Effective rate (calculated by us – not APR) | 4.83% |
Source: price list (totalkredit.dk) · valid from 1 July 2026 · checked 8 October 2026
Source: fees · valid from 1 July 2026 · checked 8 October 2026
The rate is Danmarks Nationalbank's average for August 2026.
Year-by-year table
| Year | Net gain | Saving after tax | Debt before | Debt after |
|---|---|---|---|---|
| 1 | DKK 3,328 | DKK 12,411 | DKK 1,966,379 | DKK 1,975,462 |
| 2 | DKK 20,667 | DKK 24,601 | DKK 1,931,037 | DKK 1,934,971 |
| 3 | DKK 37,686 | DKK 36,561 | DKK 1,893,888 | DKK 1,892,763 |
| 4 | DKK 52,012 | DKK 45,940 | DKK 1,854,838 | DKK 1,848,765 |
| 5 | DKK 65,245 | DKK 54,358 | DKK 1,813,789 | DKK 1,802,902 |
| 6 | DKK 78,150 | DKK 62,602 | DKK 1,770,641 | DKK 1,755,094 |
| 7 | DKK 90,695 | DKK 70,668 | DKK 1,725,286 | DKK 1,705,259 |
| 8 | DKK 103,012 | DKK 78,713 | DKK 1,677,609 | DKK 1,653,310 |
| 9 | DKK 115,129 | DKK 86,794 | DKK 1,627,494 | DKK 1,599,159 |
| 10 | DKK 127,020 | DKK 94,918 | DKK 1,574,814 | DKK 1,542,712 |
| 11 | DKK 138,659 | DKK 103,090 | DKK 1,519,440 | DKK 1,483,871 |
| 12 | DKK 150,016 | DKK 111,320 | DKK 1,461,232 | DKK 1,422,535 |
| 13 | DKK 161,061 | DKK 119,614 | DKK 1,400,047 | DKK 1,358,599 |
| 14 | DKK 171,760 | DKK 127,981 | DKK 1,335,731 | DKK 1,291,951 |
| 15 | DKK 182,078 | DKK 136,432 | DKK 1,268,124 | DKK 1,222,478 |
| 16 | DKK 191,976 | DKK 144,975 | DKK 1,197,058 | DKK 1,150,058 |
| 17 | DKK 201,412 | DKK 153,623 | DKK 1,122,357 | DKK 1,074,568 |
| 18 | DKK 210,343 | DKK 162,386 | DKK 1,043,834 | DKK 995,877 |
| 19 | DKK 218,722 | DKK 171,278 | DKK 961,293 | DKK 913,849 |
| 20 | DKK 226,498 | DKK 180,311 | DKK 874,530 | DKK 828,343 |
| 21 | DKK 233,617 | DKK 189,501 | DKK 783,327 | DKK 739,211 |
| 22 | DKK 240,021 | DKK 198,862 | DKK 687,459 | DKK 646,300 |
| 23 | DKK 245,648 | DKK 208,412 | DKK 586,685 | DKK 549,450 |
| 24 | DKK 250,432 | DKK 218,168 | DKK 480,756 | DKK 448,492 |
| 25 | DKK 254,304 | DKK 228,150 | DKK 369,408 | DKK 343,254 |
| 26 | DKK 257,187 | DKK 238,378 | DKK 252,362 | DKK 233,553 |
| 27 | DKK 259,001 | DKK 248,873 | DKK 129,328 | DKK 119,201 |
| 28 | DKK 259,660 | DKK 259,660 | DKK 0 | DKK 0 |
How we calculate
- A fixed-rate loan is repaid at 100 when the price is above 100, otherwise by buying back bonds with a premium and commission.
- The new loan must cover the redemption, and fees are added to the loan. Registration duty is only paid on the amount above the old mortgage.
- Net gain = the difference in outstanding debt + the accumulated saving after tax.
Questions for your bank meeting
- What does the refinancing cost in total, and when will I have earned it back after tax?
- What is the total cost over 10 years including all fees – both the institution's and the bank's?
- Which price is the offer based on, and what does a fixed-price agreement cost?
- Which fees does the bank charge for arranging the loan?
- Are there discounts – such as KundeKroner – and how long do they apply?
- Can I move the loan to another institution later – and what does it cost?
realkredit.ai provides general information and calculations – not personal, legal or financial advice, and nothing here is legally binding. The figures are indicative and based on your own numbers and the prices we have verified. Always check your loan offer, and talk to your bank, an independent adviser or a lawyer before you decide.