Only the Highlighted Fields can be Changed in
this Calculator.
Please
Key the Initial Term of the Loan that you are using for this comparison.
In the Second field, please key the number of months that you expect to live
in the home. After doing this you can input an "Initial
Loan Amount" and three Interest Rate and Closing Cost scenarios in each of
the two Calculators.
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The purpose of this calculator is to show the benefits
or costs associated with different loan options. For the "Estimated
Settlement Charges" please use only the Lender and Title Company Fees.
Do not use the pro-ration of the Tax & Insurance Escrows and the Interest to
close because these are not actual costs and you would still have them if
you did not refinance.
Please Print and discuss the this page and discuss the math and results with
a qualified professional.
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| Term of Loan (In Months)
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(this field can be set between 120 and 480
months) |
| How long do you expect to Live Here?
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(This Field can be set between 1 and 480 Months)
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| These Calculations assume Closing Cost
Difference is Paid in Cash or Not Required |
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The loan in this GFE |
The same loan with lower settlement charges
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The same loan with a lower interest rate
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| Your Initial Loan Amount
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| Your Initial Interest Rate
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| Your Initial Monthly Amount Owed
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| Change in Monthly Amount Owed from this GFE
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NO CHANGE |
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| Change In the Amount you will pay at Settlement with this
Interest Rate |
NO CHANGE |
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| How much your total estimated settlement charges will be
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| Cost of this Option |
n/a |
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| Payments over Life of Loan
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| These Calculations assume Closing Cost
Difference used to adjust your Loan |
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The loan in this GFE |
The same loan with lower settlement charges
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The same loan with a lower interest rate
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| Your Initial Loan Amount
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| Your Initial Interest Rate
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| Your Initial Monthly Amount Owed
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| Change in Monthly Amount Owed from this GFE
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NO CHANGE |
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| Change In the Amount you will pay at Settlement with this
Interest Rate |
NO CHANGE |
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| How much your total estimated settlement charges will be
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| Cost of this Option |
n/a |
Financed
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Financed
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| Payments over Life of Loan
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This calculator does not
take into consideration the Tax implications of refinancing.
Please consult a qualified professional to answer these questions. |