Mortgage Refinance Calculator
Refinance Results
Real client example:
Before refinancing:
5 credit cards, 1 personal loan, 1 auto loan totalling $65,000
Monthly payments on debts $2,050/month
Mortgage payment: $1,158.77/month (14 years remaining)
Total money out: $3,208.77/month
After refinancing:
No credit cards or loans
Just 1 new mortgage payment: $1,522.60/month (19 years amortization)
Savings of $1,686.17/month and only having to increase the amortization 5 years to get a monthly payment that clients were more comfortable with
Reasons you might consider refinancing:
Pull out equity to…
…do some renovations on your home at your own pace.
…handle some upcoming expenses.
…put as down payment on another property
Build debt into the mortgage
Extend amortization to lower payments
Build renovations into the mortgage with a ‘Refinance + Improvements’ product
Buy out your ex to take over the matrimonial home on your own
Add a Home Equity Line of Credit (HELOC) on to your property for future use