Author Topic: RENTAL property refinance  (Read 1564 times)

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Re: RENTAL property refinance
« on: July 21, 2021, 03:39:47 PM »
Yes your math is correct.

If you paid $500 savings towards monthly on new loan your loan would pay off in 257 months (which is close to your remaining 22 years). Total interest paid is $182,482.

Versus paying the remaining 22 years left at the current interest rate you have $204,938 interest remaining. So you would save $22k refinancing and paying $500 extra down.

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