Team: Candid Real Estate Group
Brokerage: RE/MAX 2000 Realty
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Calculators · Owning and renewing
Rolls penalty, costs and any debts into a new mortgage and shows the monthly change, interest over the term and what you would owe at the end.
Monthly cash flow change
+$1,343
From $3,758 a month (mortgage plus $1,020 in debt payments) to one $2,415 payment on a $447,500 mortgage.
About $16,991 less interest over 5 years, after costs
Interest over the next 5 years
Owing at the end of 5 years
Lower payment, longer debt
These calculators are educational illustrations, not advice and not an offer of credit. Figures are estimates from the inputs you enter and simplified rules; your lender's calculation, rates, fees, taxes and qualification will differ and are confirmed only by a licensed mortgage professional, lawyer or accountant. Mervin Truong is a licensed real estate professional, not a mortgage broker or financial advisor.
From estimate to plan
A calculator describes a scenario. I'll read it against what's selling now and introduce a licensed mortgage professional to confirm what you qualify for.