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re: Calculating Hidden Cost of Reamortization on a Refi
Posted on 12/18/20 at 9:43 am to deeprig9
Posted on 12/18/20 at 9:43 am to deeprig9
My best guess would be to look at the principal and interest part of the payments on both loans. Multiply the current loan's P&I by how many months left on the existing loan. Then do the same for the P&I on the length of the refinance loan.
1
Posted on 12/18/20 at 2:23 pm to Tiger Prawn
quote:
My best guess would be to look at the principal and interest part of the payments on both loans. Multiply the current loan's P&I by how many months left on the existing loan. Then do the same for the P&I on the length of the refinance loan.
Long term maybe, but this isn't necessarily my forever house. Once my kid is out of the house in 13 or 14 years I don't see us staying here. So it's more of an equity play for me.
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