Refinance Calculator (3f)
Refinancing an FRM With Balance Pay-down
Who This Calculator is For: Borrowers trying to decide whether paying down
the balance on their existing FRM in order to lower the cost of refinancing
into another FRM would yield a satisfactory rate of return.
What This Calculator Does:This calculator derives the rate of return on investment
in a balance pay-down plus settlement costs that reduces refinance costs,
relative to holding the existing mortgage, and relative to a refinance without the pay-down.