Refinance calculator

Come usare il Refinance calculator

Cosa calcola e quando usarlo

Compare your current mortgage with a new one a see the monthly saving, the break-even point on switching fees e the Totale Costo superato the loans.

Come si usa, passo dopo passo

1. Enter your Corrente Saldo, tariffa e Anni left.
2. Enter the new Tasso e term, e the fees a switch.
3. Tick the scatola if the fees will be added a the new loan.
4. Check the break-even Ora against how lunga you expect a Tenere the loan.

Cosa significa ogni dato

• Corrente Saldo e tariffa – What you owe e your Corrente Annuale Tasso.
• New Tasso e Durata – The offered Annuale Tasso e lunghezza a years.
• Fees a switch – Arrangement, valuation, legal e exit fees.
• Add fees a loan – Rotoli the fees into the new Saldo instead di paying them up front.

Come leggere i risultati

• Mensile Variazione – Corrente payment minus the new payment.
• Punto di pareggio – Fees ÷ Mensile Risparmio.
• Totale Retribuite – All payments superato Ciascuno loan, plus fees if Retribuite up front.

La formula

Payment = P × r ÷ (1 − (1 + r)^−n) per Ciascuno loan. Break-even months = switching fees ÷ Mensile Risparmio. Totale Costo compares payment × months on Ciascuno loan.

Un esempio pratico

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

Ipotesi e limiti

• Both rates are fixed.
• A longer new Durata lowers the payment but barattolo raise the Totale Costo; the Risultato flags this.
• Imposta, cash-out e changes a insurance are not modelled.

Errori comuni

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

Domande frequenti

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