Refi Mortgage Loan CalculatorThe Refi Mortgage Calculator
Hypothekenkonsolidierungs- und Refinanzierungsrechner Vis1
One of the mortgage calculators in the Personal Finance Calculator section, this calculator was developed to help me find the answers to the question: "Should I consolidated my first and second mortgages and convert them into a mortgage? Use this calculator to help you determine whether it would be beneficial for you to combine a first and second mortgage and convert it into a mortgage with a lower interest rates.
This calculator not only calculates the montly payments and the net interest saving, but also how many month it takes until the acquisition cost is balanced. Type in the main credit of your first mortgage: Type in the amount of your mortgage payments per month: Fill in the interest rates for your first mortgage:
Type in the main credit of your second mortgage: Type in the amount of your mortgage payments per month: Fill in the interest rates for your second mortgage: Specify the interest at which you want to carry out refinancing:
Here is how much your total month payout will be when you refinance: Reduced payments per month: The number of elapsed periods during which interest payments are saved to cover acquisition costs: Here is how much interest you will be paying under your actual month to month payments plan: Here is how much interest you will be paying under your funded Monthly Payments Plan:
Here is how much interest you will be saving when you refinance: the net refinancing saving (interest saving less acquisition costs): Hypothekenkonsolidierungs- und Refinanzierungsrechner V1, copyright © 2002 - 2011, Daniel C. Peterson, All rights reserved.
Mortgages refinanced Breake Even Calculator
What will be the time before the break-even point in mortgage funding is reached? Things depend on a variety of different things, such as your actual interest rates, new prospective interest rates, closure charges, and how long you intend to remain in your home. This calculator can help you organize the mess and see whether funding your mortgage is a solid finance choice.
If you change any value in the following forms field, the system immediately makes available calculate value for display. Initial amount of your mortgage. Yearly interest on the initial loan. Overall length of your mortgage in years. The number of years that remain on your mortgage. This is your actual personal earnings taxation rat.
To help you estimate your national income taxes, use the "Registration status and income rates" table. In order for the calculator to calculate your residual amount on the basis of your initial loan information and the number of years left, select this option. Your house's actual estimate. Net amount of your mortgage that is being repaid.
Yearly interest on the new loan. The number of years for your new loan. That is the new mortgage amount that will be given to the creditor as a charge for lending. As a rule, this charge amounts to 1% of the credit surplus. That is the number of points that will be given to the creditor to lower the interest on the mortgage.
Every point is 1% of the new loan amount. Estimation of all other closure charges for this loan. Mortgage insurance premiums (PMI) per month. The PMI is valued at 0.5% of your credit surplus each year for credits backed by less than 20% decline. PMI is determined by doubling your initial credit amount by this percentage and subtracting it by 12.
If your home's capital funds exceed the PMI requirement percentages, your PMI payout will drop to zero. Usually PMI is needed if you have less than 20% of your own capital in your home, but to fund a loan that Freddie Mac or Fannie Mae guarantee you may not be obliged to repay PMI if your mortgage does not have it.
You are currently paying the total of capital, interest and PMI (Principal Mortgage Insurance). They are not listed here because the funding has no effect on your insurances or tax. You will receive your new payout as the total of capital, interest and PMI. Capital and interest paid each month. It will take the number of month until your month lyre is greater than the acquisition cost.
Time it takes for your interest and PMI cost reductions to outstrip your acquisition cost. Time it takes for your after-tax interest and PMI saving to outweigh your acquisition cost. The number of time it takes for your after-tax interest and PMI saving to surpass both your acquisition cost and any interest saved on the prepayment of your mortgage.
Advance payment amount used in this computation is the amount you would have to pay to complete the work.