Refinance calculator

如何使用Refinance calculator

它计算什么，何时使用

Compare your current mortgage with a new one 至 see the monthly saving、the break-even point on switching fees、the 总计 成本 over the loans.

使用步骤

1. Enter your 电流 余额、利率、年数 left.
2. Enter the new 利率 和 term, 和 the fees 至 switch.
3. Tick the 箱 if the fees will be added 至 the new loan.
4. Check the break-even 时间 against how long you expect 至 保留 the loan.

各输入项的含义

• 电流 余额 和 利率 – What you owe 和 your 电流 每年 利率.
• New 利率 和 期限 – The offered 每年 利率 和 年. 的 长度
• Fees 至 switch – Arrangement、valuation, legal、exit fees.
• Add fees 至 loan – 卷 the fees into the new 余额 instead paying them up front.

如何阅读结果

• 每月 变化 – 电流 payment minus the new payment.
• 盈亏平衡点 – Fees ÷ 每月 节省.
• 总计 有薪 – All payments over 每件 loan, plus fees if 有薪 up front.

公式

Payment = P × r ÷ (1 − (1 + r)^−n)件每件 loan. Break-even 个月 = switching fees ÷ 每月 节省. 总计 成本 compares payment × 个月 on 每件 loan.

计算示例

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

假设与局限

• Both rates are fixed.
• A longer new 期限 lowers the payment but 罐 raise the 总计 成本; the 结果 flags this.
• 税款、cash-out、changes 至 insurance are not modelled.

常见错误

• Ignoring early repayment charges on the old loan.
• Resetting 至 a 30-year term 和 ignoring the extra 利息.

常见问题

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