Should I Refinance?
Input
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 |
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