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Should I Refinance? How Do I know If I should Refinance?
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Should I Refinance?
Input
Loan Info
Amount
($)
Interest
(%)
(%)
Loan Length
(Yrs)
(Yrs)
Months Paid
(Mts)
Years Before Sell
(Yrs)
Refinansing Fees
Points
(%)
Origination Fees
(%)
Closing Cost
($)
Your Tax Rates and Deductions
Your Tax Rate
(%)
State Tax
(%)
Show amortization table
Financial Analysis
Original Loan
Refinanced Loan
Monthly Payment
$1,247.74
$1,080.08
Total Monthly Payment
$74,864.39
$64,804.94
Monthly Payment Savings
$10,059.44
Total Interest Paid
$56,931.13
$51,409.13
Tax Savings
$17,648.65
$15,936.83
Tax Saving Losses
$1,711.82
Balance at Refinance
$186,950.49
Points Value
$1,869.50
Amount Refinanced
$185,080.98
Balance at Sale
$169,017.23
$171,685.17
Balance Losses
$2,667.94
Total Losses
$4,379.76
Total Closing Cost
$4,004.26
Total Benefits
$1,675.43