Refinance calculator

Cómo usar la Refinance calculator

Qué calcula y cuándo usarla

Compare your current mortgage with a new one a see the monthly saving, the break-even point on switching fees y the total Coste superado the loans.

Cómo usarla, paso a paso

1. Enter your Corriente Saldo, tarifa y Años left.
2. Enter the new Tipo y term, y the fees a switch.
3. Tick the caja if the fees will be added a the new loan.
4. Check the break-even Hora against how larga you expect a Mantener the loan.

Qué significa cada dato

• Corriente Saldo y tarifa – What you owe y your Corriente Anual Tipo.
• New Tipo y Plazo – The offered Anual Tipo y longitud en years.
• Fees a switch – Arrangement, valuation, legal y exit fees.
• Add fees a loan – Rollos the fees into the new Saldo instead de paying them up front.

Cómo leer los resultados

• Mensual Variación – Corriente payment minus the new payment.
• Punto de equilibrio – Fees ÷ Mensual Ahorro.
• Total Pagadas – All payments superado Cada uno loan, plus fees if Pagadas up front.

La fórmula

Payment = P × r ÷ (1 − (1 + r)^−n) por Cada uno loan. Break-even months = switching fees ÷ Mensual Ahorro. Total Coste compares payment × months on Cada uno loan.

Un ejemplo práctico

A 250,000 balance at 6.75% with 27 years left costs 1,679.00 a month. A new 5.75% loan por 27 years with 3,000 de fees costs 1,521.17, a saving de 157.83 a month. The fees are repaid en 1 year 8 months, y the total saving over the loans es about 48,137.

Supuestos y límites

• Both rates are fixed.
• A longer new Plazo lowers the payment but bote raise the total Coste; the Resultado flags this.
• Impuesto, cash-out y changes a insurance are not modelled.

Errores comunes

• Ignoring early repayment charges on the old loan.
• Resetting a a 30-year term y ignoring the extra Intereses.

Preguntas frecuentes

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