Dynamic Refinance Scenario
Compare your existing monthly payment against a new 30-year fixed rate loan.
Existing Mortgage (Your Baseline)
Current Payoff
$318,335
Current Rate
4.020%
Existing Monthly P&I
$1,692.48
New 30-Year Refinance @ 5.990%
Refinance Loan Amount
$480,000
New Cash-Out (Net of $10k Costs)
$151,665
New Monthly P&I:
$2,875.24
Difference vs. Existing P&I:
+$1,182.76
The bottom row represents the change in your monthly principal and interest payment compared to your existing \$1,692.48 payment.
Scenario Analysis:
- The required minimum loan amount to net \$150,000 cash, cover the \$318,335 payoff, and **deduct the \$10,000 in costs** is **\$478,335**.
- The **Interest Rate** for this new single loan is **5.990%** over a **30-year term**.
- The **New Cash-Out** calculation is: (Refinance Loan Amount) - (\$318,335 Payoff) - (\$10,000 Costs).