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Break-Even_Worksheet

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					             Break-even Analysis - Refinancing
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Mortgage Terms (Current) Rate and Term Only
Original mortgage amount                                    $125,000.00
Current Mortgage Rate                                           8.000%
Original Term (Years)                                                30

New Mortgage Rate                                               6.625%
New Term (Years)                                                     30

                                                         Broker/Lender
Closing Costs                To Whom                     Standard Costs
Origination Fee          Broker        Various                    $0.00
Discount Fee             Broker/Lender Junk Fee                   $0.00
Appraisal Fee            Appraiser     Average Cost             $300.00
Credit Report            Credit Agency Standard Cost             $11.75
Tax Service Fee*         Lender        Various                    $0.00
Broker Fee               Broker        Junk Fee                   $0.00
Underwriting Fee*        Lender        Various                    $0.00
Processing Fee           Broker        Standard Cost            $450.00
Flood Cert. Fee*         Lender        Various                    $0.00
Document Fee             NOT TO BROKER                            $0.00
Lender Fee               Lender                                 $450.00
Closing Fee              Title Company Various                  $275.00
Title Insurance          Title Company Standard Cost            $175.00
Recording Fee            County        Various                   $51.00

* These could be one fee to lender     TOTAL **               $1,712.75
             ** Escrows not inlcuded


"Junk" Fees to Avoid
Application Fee
Broker Fee
Funding Fee
Admin. Fee
Cancel Fee
Misc. Fee
Document Prep. Fee (Not to third party)
Overnite Fee to Broker
Discount Fee to Broker
All added fee after you receive a "Good Faith Estimate"
All fees that should go to third party services


Analysis                                   Current         Proposed
Mortgage Amount                            $125,000.00      $125,000.00
Mortgage Payment                               $917.21          $800.39

Approx.Months to Break-Even Point                             15

Interest Savings (Costs)                                   $40,341.38

				
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