Your Rate    
  Years left    
  Loan    
  New rate    
  New term    
         
         
SCENARIO 1
SCENARIO 2
Payments drop/wk:
Interest DECREASES:
SCENARIO 3
OR continue current repayments
Payments change/wk:
Interest DECREASES:
New rate:
((pmt - ir*Loan)*(ir + 1)^start +
((ir*Loan - pmt)*(ir + 1)^end +
ir*pmt*(end - start + 1))*(ir + 1))/
(ir*(ir + 1))
          Weekly equivalent of current rate                          
      Weekly equivalent of new rate                          
  Term Old Weekly Payment New Weekly Payment Old Total Interest Paid New Total Interest Paid Term   New Weekly Payment Term   Alternative PMT Calcs              
     
Scenario 1
current repay at
years
new repay at years
  Savings per week by refinancing to a lower rate                            
                                       
current total interest
new total interest
                                     
                                       
Scenario 2
max term AND still save interest
Max Term total int years
Max Term Repayts years
Scenario 3
Term at new rate that equates to current repayments <--New weekly repayment table
interest saved at same repayents and lower rate
Target the current repayment
  Term Weekly Payment Saving/wk with longer term Total Interest Paid Extra Interest Paid Term                          
      15            
  20            
  25            
  30