- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: I'm struggling to figure out if refinancing makes sense for my situation.
Posted on 9/10/20 at 10:11 am to whitefoot
Posted on 9/10/20 at 10:11 am to whitefoot
quote:
whitefoot
Just to highlight my initial response/comment, your two comparisons appear to only use minimum payments for each loan. It’s important when comparing a 30y and 15y to ensure you use the same payment in each (higher payment for existing 30y).
When doing this, the spread in interest paid drops as does the payoff date.
1
Posted on 9/10/20 at 1:27 pm to LSUtigerME
quote:
Just to highlight my initial response/comment, your two comparisons appear to only use minimum payments for each loan. It’s important when comparing a 30y and 15y to ensure you use the same payment in each (higher payment for existing 30y)
For sure. That's why I linked the calculator so he can play with it how he wants. I didn't want to assume that he was going to automatically put the extra $75 into the existing 30 year. I was just showing him that refinancing was a no-brainer.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News