Enter each one of the debts that you would like to pay off, along with their corresponding principal balances, interest rates, and monthly payment amounts. Once you have all your debts entered, make any desired changes to the "New Loan Information" default entries and then click on the "Calculate New" button.
Enter data about your planned New Loan with us (change any of the proposed numbers below).
Proposed interest rate (%):
Loan term:
Estimated exit costs ($):
Income tax rate (%):
Total debts:
Effective rate before tax:
Effective rate after tax:
Total monthly payment:
Monthly savings:
Annual savings:
Five year savings:
Ultimate Savings Report
What if you were to pay the same OLD payments instead of your NEW LOWER PAYMENTS... (which is your choice every month)... your monthly SAVINGS will reduce the loan principal each month, SHORTENING the loan itself... without ANY more costs than you used to pay.
Total years SAVED if same OLD payments are made on NEW loan:
Total years until "FREE & CLEAR" if savings are paid to principal:
TOTAL INTEREST SAVED over life of loan if savings are applied to principal:
Disclaimer: Whilst every effort has been made to ensure the accuracy of this calculator the results should be used as indication only. They are neither a quote nor a pre-qualification for a home loan.
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