Refinance calculator

Como usar a Refinance calculator

O que calcula e quando usar

Compare your current mortgage with a new one a see the monthly saving, the break-even point on switching fees e the total Custo excedido the loans.

Como usar, passo a passo

1. Enter your Corrente Saldo, valor e Anos left.
2. Enter the new Taxa e term, e the fees a switch.
3. Tick the caixa if the fees will be added a the new loan.
4. Check the break-even Hora against how longa you expect a Manter the loan.

O que significa cada campo

• Corrente Saldo e valor – What you owe e your Corrente Anual Taxa.
• New Taxa e Prazo – The offered Anual Taxa e comprimento em years.
• Fees a switch – Arrangement, valuation, legal e exit fees.
• Add fees a loan – Rolos the fees into the new Saldo instead de paying them up front.

Como ler os resultados

• Mensal Variação – Corrente payment minus the new payment.
• Ponto de equilíbrio – Fees ÷ Mensal Economia.
• Total Pagas – All payments excedido Cada loan, plus fees if Pagas up front.

A fórmula

Payment = P × r ÷ (1 − (1 + r)^−n) por Cada loan. Break-even months = switching fees ÷ Mensal Economia. Total Custo compares payment × months on Cada loan.

Um exemplo prático

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 em 1 year 8 months, e the total saving over the loans é about 48,137.

Premissas e limites

• Both rates are fixed.
• A longer new Prazo lowers the payment but lata raise the total Custo; the Resultado flags this.
• Imposto, cash-out e changes a insurance are not modelled.

Erros comuns

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

Perguntas frequentes

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