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vanRijn

ReFi scenarios

vanRijn
Oct 3rd, 2011
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  1. Scenario 1: 4.626% 30 year fixed and apply difference towards secondary
  2.  
  3. Apply outright to secondary loan $4,000.00
  4. Primary Loan Secondary Loan
  5. Starting Principal $275,000.00 Current Balance $40,994.51
  6. Interest Rate 4.625% Current Interest Rate 8.25%
  7. Monthly Principal and Interest $1,413.88 Normal Monthly Payment $324.55
  8. Total Monthly Payment $1,823.88 Increased Monthly Payment $622.54
  9.  
  10. Years Balance Totals Primary Secondary Total Principal Balance
  11. 1 12/1/2012 $268,793.09 $28,237.77 $297,030.86
  12. 2 12/1/2013 $264,160.82 $22,897.99 $287,058.81
  13. 3 12/1/2014 $259,309.71 $17,100.62 $276,410.33
  14. 4 12/1/2015 $254,229.43 $10,806.51 $265,035.94
  15. 5 12/1/2016 $248,909.13 $3,973.02 $252,882.15
  16. 6 12/1/2017 $243,337.50 -$3,446.06 $239,891.44
  17. 7 12/1/2018 $237,502.65 $0.00 $237,502.65
  18. 8 12/1/2019 $231,392.12 $0.00 $231,392.12
  19. 9 12/1/2020 $224,992.92 $0.00 $224,992.92
  20. 10 12/1/2021 $218,291.39 $0.00 $218,291.39
  21.  
  22. --------
  23.  
  24. Scenario 2: 4.375% 30 year fixed and apply difference towards secondary
  25.  
  26. Apply outright to secondary loan $4,000.00 1 Point $2750 monthly diff $40.85
  27. Primary Loan Secondary Loan months to break even 67.32
  28. Starting Principal $275,000.00 Current Balance $40,994.51 benefit per year after $490.20
  29. Interest Rate 4.375% Current Interest Rate 8.25%
  30. Monthly Principal and Interest $1,373.03 Normal Monthly Payment $324.55
  31. Total Monthly Payment $1,783.03 Increased Monthly Payment $663.39
  32.  
  33. Years Balance Totals Primary Secondary Total Principal Balance
  34. 1 12/1/2012 $268,515.69 $27,549.34 $296,065.03
  35. 2 12/1/2013 $263,690.91 $21,641.40 $285,332.31
  36. 3 12/1/2014 $258,650.76 $15,227.19 $273,877.95
  37. 4 12/1/2015 $253,385.62 $8,263.35 $261,648.97
  38. 5 12/1/2016 $247,885.43 $702.75 $248,588.18
  39. 6 12/1/2017 $242,139.76 $0.00 $242,139.76
  40. 7 12/1/2018 $236,137.60 $0.00 $236,137.60
  41. 8 12/1/2019 $229,867.52 $0.00 $229,867.52
  42. 9 12/1/2020 $223,317.57 $0.00 $223,317.57
  43. 10 12/1/2021 $216,475.23 $0.00 $216,475.23
  44.  
  45.  
  46. --------
  47.  
  48. Scenario 3: 4.17% 10 Year ARM and apply difference towards secondary
  49.  
  50. Apply outright to secondary loan $4,000.00 1 Point $2750 monthly diff $59.94
  51. Primary Loan Secondary Loan months to break even 45.88
  52. Starting Principal $275,000.00 Current Balance $40,994.51 benefit per year after $719.28
  53. Interest Rate 4.17% Current Interest Rate 8.25% % return per year 26.16%
  54. Monthly Principal and Interest $1,339.99 Normal Monthly Payment $324.55
  55. Total Monthly Payment $1,749.99 Increased Monthly Payment $696.43
  56.  
  57. Years Balance Totals Primary Secondary Total Principal Balance
  58. 1 12/1/2012 $268,280.96 $26,992.57 $295,273.53
  59. 2 12/1/2013 $263,293.79 $20,625.10 $283,918.89
  60. 3 12/1/2014 $258,094.66 $13,712.00 $271,806.66
  61. 4 12/1/2015 $252,674.52 $6,206.48 $258,881.00
  62. 5 12/1/2016 $247,023.98 -$1,942.20 $245,081.78
  63. 6 12/1/2017 $241,133.27 $0.00 $241,133.27
  64. 7 12/1/2018 $234,992.16 $0.00 $234,992.16
  65. 8 12/1/2019 $228,590.00 $0.00 $228,590.00
  66. 9 12/1/2020 $221,915.72 $0.00 $221,915.72
  67. 10 12/1/2021 $214,957.75 $0.00 $214,957.75
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