Download PDF
The calculations and estimated results in this report provide general information and are not intended as financial advice. The results are used for illustrative purposes and are subject to change without notice. This report simply gives you a good idea of your mortgage payments, costs and potential savings. Actual mortgage premiums, payment information and others payable are subject to the full set of underwriting policies and standards by each lender. For the complete TERMS and CONDITIONS visit https://www.mortgagearchitects.ca/privacypolicy
 

Mortgage Architects - A Better Way

Client Refinance

Refinance Report

August 16, 2023

 

Kiki Berg

Professional Mortgage Strategist 778-808-7756 kiki@bluebutterflymortgages.ca

 
Current Mortgage $480,000
5 Years Variable 6.20%
Total Monthly $6,024
Amortization
22 yrs, 9 mos
Remaining Term
21 Months
Balance end of Term
$536,308
Debts (5)
$120,700
Total Interest
$71,251
Available Equity for Take Out
$720,000
 
New Mortgage $630,700
3 Years Fixed 6.0999999%
Total Monthly $4,249
New Amortization
22 yrs, 9 mos
Effective Amortization
22 yrs, 9 mos
Balance end of Remaining Term
$606,780
Consolidated Debts (4)
$40,700
Cash Equity Takeout
$25,000
Accessed Equity
$70,700
The calculations and estimated results in this report provide general information and are not intended as financial advice. The results are used for illustrative purposes and are subject to change without notice. This report simply gives you a good idea of your mortgage payments, costs and potential savings. Actual mortgage premiums, payment information and others payable are subject to the full set of underwriting policies and standards by each lender. For the complete TERMS and CONDITIONS visit https://www.mortgagearchitects.ca/privacypolicy
 
 
Total Savings in 21 Months $571
 
Current Interest $71,251.45
Refinancing Cost $5,371.87
New Interest $65,308.48
 
Payments Lowered $1,775/month $21,305 / Year
 
Current Payment $6,024.37
New Payment $4,248.99
The calculations and estimated results in this report provide general information and are not intended as financial advice. The results are used for illustrative purposes and are subject to change without notice. This report simply gives you a good idea of your mortgage payments, costs and potential savings. Actual mortgage premiums, payment information and others payable are subject to the full set of underwriting policies and standards by each lender. For the complete TERMS and CONDITIONS visit https://www.mortgagearchitects.ca/privacypolicy
 
 
Mortgage Interest
$62,080.10
$65,308.48
Debt Interest
$9,171.35
$0.00
Interest in 21 Months
$71,251
$65,308
Penalty
-
$5,000.00
Other fees
-
$0.00
Interest On Rolled In Fees
-
$371.87
Refinancing Cost
-
$5,372
Total Cost
$71,251
$70,680
Break-Even
-
1 Year, 5 Months

Total Saving by the end of term 21 Months

 

$571

 
    Mortgage Interest
    $62,080.10
    Debt Interest
    $9,171.35
 
    Total Cost
    $71,251
 
    Mortgage Interest
    $65,308.48
    Debt Interest
    $0.00
 
    Penalty
    $5,000.00
    Other fees
    $0.00
    Interest On Rolled In Fees
    $371.87
 
    Total Cost
    $70,680
    Break-Even
    1 Year, 5 Months
 
    Total Savings
    $571

    by the end of term 21 Months

     
The calculations and estimated results in this report provide general information and are not intended as financial advice. The results are used for illustrative purposes and are subject to change without notice. This report simply gives you a good idea of your mortgage payments, costs and potential savings. Actual mortgage premiums, payment information and others payable are subject to the full set of underwriting policies and standards by each lender. For the complete TERMS and CONDITIONS visit https://www.mortgagearchitects.ca/privacypolicy
 
 
Mortgage Payment
$3,284.37
$4,248.99
Extra Payment
-
$0.00
Payment Frequency
Monthly
Monthly
Monthly Securitized Debt
$800
-
Monthly Debts
$1,940
$0
Total Monthly Payment
$6,024
$4,249

Payment Lowered $1,775 / month

 

$21,305 / Year

 
    Mortgage Payment
    $3,284.37
    Monthly Securitized Debt
    $800
    Monthly Debts
    $1,940
 
    Total Monthly Payment
    $6,024.37
 
    Mortgage Payment
    $4,248.99
    Extra Payment
    $0.00
    Monthly Debts
    $0
 
    Total Monthly Payment
    $4,248.99
 
    Payment Lowered
    $21,305 / Year
     
    $1,775 / month
 
No Change No Change
 
    •  
    • Current Amortization
    • 22 yrs, 9 mos
    •  
    • Effective Amortization
    • 22 yrs, 9 mos
The calculations and estimated results in this report provide general information and are not intended as financial advice. The results are used for illustrative purposes and are subject to change without notice. This report simply gives you a good idea of your mortgage payments, costs and potential savings. Actual mortgage premiums, payment information and others payable are subject to the full set of underwriting policies and standards by each lender. For the complete TERMS and CONDITIONS visit https://www.mortgagearchitects.ca/privacypolicy
 
 
    •  
    • Pre-Payment Penalty
    • $5,000
    •  
    • Discharge Fee
    • $0
    •  
    • Other fees
    • $0
    •  
    • Legal Fee
    • $0
    •  
    • Appraisal Fee
    • $0
    •  
    • Lender Incentive
    • $0
    •  
    • Total Penalty and Fees
    • $5,000
 
    Roll in Penalty and Fees
    Yes
    Roll in Cap
    $0
    Remaining Amount (Paid Cash)
    $0
  •  DebtRateBalancePaymentConsolidated
  • HelocHELOC 8.20% $80,000 $800.00 / Monthly
  • VisaCredit Cards 15.96% $11,200 $425.00 / Monthly
  • VidaCredit Cards 29.99% $9,500 $365.00 / Monthly
  • McCredit Cards 22.90% $5,000 $250.00 / Monthly
  • UntitledLine of Credit 11.50% $15,000 $900.00 / Monthly
    • Heloc
      $80,000
      HELOC
      $800.00 / Monthly
      Consolidated
      8.20%
    • Visa
      $11,200
      Credit Cards
      $425.00 / Monthly
      Consolidated
      15.96%
    • Vida
      $9,500
      Credit Cards
      $365.00 / Monthly
      Consolidated
      29.99%
    • Mc
      $5,000
      Credit Cards
      $250.00 / Monthly
      Consolidated
      22.90%
    • Untitled
      $15,000
      Line of Credit
      $900.00 / Monthly
      Consolidated
      11.50%
The calculations and estimated results in this report provide general information and are not intended as financial advice. The results are used for illustrative purposes and are subject to change without notice. This report simply gives you a good idea of your mortgage payments, costs and potential savings. Actual mortgage premiums, payment information and others payable are subject to the full set of underwriting policies and standards by each lender. For the complete TERMS and CONDITIONS visit https://www.mortgagearchitects.ca/privacypolicy
 

The calculations and estimated results in this report provide general information and are not intended as financial advice. The results are used for illustrative purposes and are subject to change without notice. This report simply gives you a good idea of your mortgage payments, costs and potential savings. Actual mortgage premiums, payment information and others payable are subject to the full set of underwriting policies and standards by each lender. For the complete TERMS and CONDITIONS visit https://www.mortgagearchitects.ca/privacypolicy

Report ID: undefined

Download My Mortgage Planner

expert link
Apple Store Google Store