| * |
Original
loan amount |
|
| * |
Term
on current loan (Yrs.) |
|
| * |
Current
interest rate |
|
| * |
New
interest rate |
|
| * |
New
loan term (Yrs.) |
|
| . |
Negative # = Cost - Positive
# = Save |
|
Current
Monthly P&I pymt. |
|
|
New
Monthly P&I pymt. |
|
|
Difference
in payment |
|
|
Interest
on current loan |
|
|
Interest
on new loan |
|
|
Difference
in interest |
|
|
|
|
| If the new loan
above has a higher interest rate and/or shorter term, the computed totals may return a
negative figure in the "Difference in payment" box. This would make the
"Months to recoup costs" at the right also return a negative figure. If your new
loan won't save you money, there is no way to recoup the costs of the loan. |
|
|
|
Points
Paid (i.e.: 1.5) |
|
|
Application
fee |
|
|
Appraisal
fee |
|
|
Credit
Report |
|
|
Processing
fee |
|
|
Title
Search |
|
|
Title
Insurance |
|
|
Escrow
fee |
|
|
Underwriting
fee |
|
|
Document
Prep. fee |
|
|
Local
Taxes, etc. |
|
|
Attorney's
fees |
|
|
Inspections |
|
|
Other
Costs |
|
| . |
|
|
Cost
of Points Paid |
|
|
Total
Costs |
|
|
Months
to recoup costs |
|
|