mortgage-refinance

Summary

Mortgage Refinance Spreadsheet
Instructions at DCF Models Website (http://www.dcf-models.com)
Change Cells in Red Only
Mortgage Terms
Comparison of Options
Mortgage Details
At Completion Date
Original Loan Terms
Refinance Loan Terms
Effective Date
1-Jan-08
1-Jan-08
1-Jan-08
Principal Outstanding
$115,000.00
$115,000.00
$115,000.00
SUMMARY
Amortization (Remaining)
300 months
300 months
300 months
Discount Rate
6.25%
Term (Remaining)
60 months
60 months
60 months
Present Values
Original Rate (Semiannual)
4.38%
4.38%
6.25%
Payments
Interest
Principal
Refinance Rate (Semiannual)
6.25%
Results (Discounted at 6.25%)
$6,397
$8,906
($2,508)
Change in Payments
$6,397
Change in Interest
$8,906
Change in Principal
($2,508)
Monthly Payment
$628.53
$628.53
$752.95
Payment
Amortization
Term
Amortization
Amortization
Difference
Discount
Date
Remaining
Remaining
Interest Paid
Principal
Balance
Interest Paid
Principal
Balance
Interest Paid
Principal
Total
Factor
NPV
NPV
Interest
Principal
1-Feb-08
299 months
59 months
$415
$213
$114,787
$591
$162
$114,838
$176
($51)
$124
0.9948
$175
($51)
1-Mar-08
298 months
58 months
$415
$214
$114,573
$590
$162
$114,676
$176
($51)
$124
0.9897
$174
($51)
1-Apr-08
297 months
57 months
$414
$215
$114,359
$590
$163
$114,513
$176
($51)
$124
0.9845
$173
($50)
1-May-08
296 months
56 months
$413
$215
$114,143
$589
$164
$114,348
$176
($51)
$124
0.9794
$172
($50)
1-Jun-08
295 months
55 months
$412
$216
$113,927
$588
$165
$114,183
$176
($51)
$124
0.9744
$171
($50)
1-Jul-08
294 months
54 months
$412
$217
$113,710
$587
$166
$114,018
$175
($51)
$124
0.9693
$170
($49)
1-Aug-08
293 months
53 months
$411
$218
$113,493
$586
$167
$113,851
$175
($51)
$124
0.9643
$169
($49)
1-Sep-08
292 months
52 months
$410
$218
$113,274
$585
$168
$113,683
$175
($51)
$124
0.9593
$168
($49)
1-Oct-08
291 months
51 months
$409
$219
$113,055
$585
$168
$113,515
$175
($51)
$124
0.9543
$167
($49)
1-Nov-08
290 months
50 months
$408
$220
$112,835
$584
$169
$113,346
$175
($51)
$124
0.9494
$166
($48)
1-Dec-08
289 months
49 months
$408
$221
$112,614
$583
$170
$113,175
$175
($51)
$124
0.9445
$165
($48)
1-Jan-09
288 months
48 months
$407
$222
$112,392
$582
$171
$113,004
$175
($51)
$124
0.9396
$164
($48)
1-Feb-09
287 months
47 months
$406
$222
$112,170
$581
$172
$112,833
$175
($51)
$124
0.9347
$164
($47)
1-Mar-09
286 months
46 months
$405
$223
$111,947
$580
$173
$112,660
$175
($50)
$124
0.9299
$163
($47)
1-Apr-09
285 months
45 months
$404
$224
$111,722
$579
$174
$112,486
$175
($50)
$124
0.9250
$162
($47)
1-May-09
284 months
44 months
$404
$225
$111,498
$578
$175
$112,311
$175
($50)
$124
0.9202
$161
($46)
1-Jun-09
283 months
43 months
$403
$226
$111,272
$577
$175
$112,136
$175
($50)
$124
0.9155
$160
($46)
1-Jul-09
282 months
42 months
$402
$226
$111,045
$577
$176
$111,960
$175
($50)
$124
0.9107
$159
($46)
1-Aug-09
281 months
41 months
$401
$227
$110,818
$576
$177
$111,782
$174
($50)
$124
0.9060
$158
($45)
1-Sep-09
280 months
40 months
$400
$228
$110,590
$575
$178
$111,604
$174
($50)
$124
0.9013
$157
($45)
1-Oct-09
279 months
39 months
$400
$229
$110,361
$574
$179
$111,425
$174
($50)
$124
0.8966
$156
($45)
1-Nov-09
278 months
38 months
$399
$230
$110,131
$573
$180
$111,245
$174
($50)
$124
0.8920
$155
($44)
1-Dec-09
277 months
37 months
$398
$231
$109,901
$572
$181
$111,064
$174
($50)
$124
0.8874
$154
($44)
1-Jan-10
276 months
36 months
$397
$231
$109,669
$571
$182
$110,882
$174
($50)
$124
0.8828
$154
($44)
1-Feb-10
275 months
35 months
$396
$232
$109,437
$570
$183
$110,699
$174
($49)
$124
0.8782
$153
($43)
1-Mar-10
274 months
34 months
$395
$233
$109,204
$569
$184
$110,516
$174
($49)
$124
0.8737
$152
($43)