VIEWS: 354 PAGES: 2 CATEGORY: Financial Models and Spreadsheets POSTED ON: 9/17/2008
This is an example of mortgage refinancing calculator. This document is useful for calculating mortgage refinancing.
Home Mortgage Refinancing Calculator This calculator helps you determine whether you will save money by refinancing you Instructions: - Fill out the white boxes, replacing the sample numbers. - Read your results in the orange boxes. Old Mortgage Current monthly payment $ 1,000 Balance left on mortgage $ 100,000 Current interest rate 5% Years left on current loan 10 New Mortgage New interest rate 4% New loan term (years) 12 Refinancing Costs Points 1 Cost of points $ 1,000 Application fee $ 1,000 Credit check $ 1,000 Attorney's fee (yours) $ 1,000 Attorney's fee (lender's) $ 1,000 Title search $ 1,000 Title insurance $ 1,000 Appraisal fee $ 1,000 Inspections $ 1,000 Local fees (taxes, transfers) $ 1,000 Document preparation $ 1,000 Other $ 1,000 tgage Refinancing Calculator ator helps you determine whether you will save money by refinancing your mortgage. ut the white boxes, replacing the sample numbers. your results in the orange boxes. New monthly payment $875.53 Monthly savings $ 124.47 You'll pay this much more interest over the life of the new loan $ 6,076.09 Total refinancing costs $ 12,000 ### Months to recoup refinancing costs 96.41
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