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Mortgage Information
Current
Original Mortgage Amount or Outstanding
Current Mortgage Rate- Principle and Interest Only
Original Term (Years)
Original Repayment Frequency
Monthly
Fortnightly
Weekly
Yearly Mortgage Repayment at Current Mortgage Rate
Months Paid - Enter "0" if
you use the Outstanding Mortgage Amount above
Mortgage Amount Balance
Original Mortgage Annual Fees
Refinance
New Mortgage Amount
New Mortgage Rate
New Term (Years)
New Repayment Frequency
Monthly
Fortnightly
Weekly
The minimum repayment.
Yearly Mortgage Repayment
New Mortgage Annual Fees
Resale Information
Resale Plan (Months)
N/A
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Refinancing Costs
New Loan Set-up Fees
Application Fees
Document Preparation
Legal Fees
Mortgage Stamp Duty
Settlement
Other
Current Loan Exit Fees
Discharge Fees
Exit Penalties
Other
Refinance Expectation
Total Savings
Expected
from Refinance
Minimum
Acceptable Savings from Refinance
Scenario 1
Paying the Minimum Repayment after Refinance
From the time point of refinance.
You will pay the minimum repayment required by the bank. For example, you are currently paying $26,000 per year on a monthly repayment while after refinance you might only need to pay $24,000 per year.
Analysis - Paying the Minimum Repayment
Current
Refinance
Mortgage Amount Balance
Regular Mortgage Repayment
Yearly Mortgage Repayment
Comparison
Refinance Interest Savings
Refinance Total Savings
Average Refinance Monthly Savings
Conclusion
""
Refinance
Current
Scenario 2
Paying the Current Repayment or Minimum Payment after Refinance
From the time point of refinance.
You will continue paying what you are currently paying. For example, if you are currently paying $26,000 per year on a monthly repayment, you will still pay $26,000 per year after refinance although you might do fortnightly or weekly repayment.
Analysis - Paying the Current Repayment
Current
Refinance
Mortgage Amount Balance
Regular Mortgage Repayment
Yearly Mortgage Repayment
Months to Payoff
Comparison
Refinance Interest Savings
Refinance Total Savings
Average Refinance Monthly Savings
Conclusion
""
Refinance
Current