Refinance Savings Calculator
Use this free Refinance Savings calculator to make better property management decisions. Enter your values below to get instant results.
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How to Use This Calculator
- 1 Enter current loan balance and rate
- 2 Enter new terms and rate
- 3 Add closing costs
- 4 Calculate monthly savings
- 5 Determine break-even months
Example Calculation
Refi $280K from 7.5% to 6.5%
Inputs:
- Balance: $280,000
- Old: 7.5%
- New: 6.5%
- Costs: $6,000
Result:
Savings: ~$195/mo. Break-even: 31 months
Important Considerations
- • Resetting term affects total interest
- • Rate locks expire
- • Prepayment penalties on older loans
Frequently Asked Questions
If reducing rate by 0.75-1%+, staying past break-even, and costs are reasonable. Cash-out if productive use for equity.
Same principles but: higher rates, seasoning requirements, stricter criteria. Analyze cash flow impact.
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