Sioux Falls, South Dakota 57108, United States
Refinance Calculator
SHOULD I REFINANCE?
When you refinance at a lower interest rate, you usually pay refinancing costs including points, fees, and closing costs. This calculator will tell you if the amount you save in interest will exceed these refinancing costs. The calcuated results depend on how long you plan to keep this property.
Calculator Tips
In this analysis, cash out is not considered as part of the cost of the loan since the cash could theoretically be put back into the loan.
Your tax rate is used to calculate the monthly advantage of your interest deduction. If you wish not to include the interest deduction advantage, you may set your tax rate to 0. Please keep in mind that your tax deduction may be limited beyond the scope of this calculator. Talk to your tax advisor before using these results in your specific situation.
The total loan cost figure is actually the present value of all the payments for as long as you keep this property, using the investment rate of return as a discount rate. You may also think of it as the amount you would have to invest today (e.g., in a savings account) to cover all the payments for as long as you keep this property. Negative savings are indicated by brackets.
Calculator Disclaimer
The information provided by these calculators is intended for illustrative purposes only and is not intended to purport actual user-defined parameters. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results.
Presented by TimeValue Software ©2020
Don Dunham III Real Estate
Sioux Falls, South Dakota 57108, United States
© Don Dunham III Real Estate | 605.274.1144 | info@dondunham.com | 5809 S. Remington Place #300, Sioux Falls, SD 57108
Don Dunham III Real Estate is locally owned, licensed in South Dakota and Iowa, and ready to help you buy a home, sell your home, with commercial property, land or lots.
Our Realtors® offer a variety of resources to help with your real estate needs in and around the Sioux Falls area.