Compare refinancing a single mortgage vs. consolidating a first & second mortgage.
Consolidate or Refinance Comparisons
First Mortgage ($)
Unpaid Principal of First Mortgage
Monthly Mortgage Payment (Principal and Interest Only)
Interest Rate
Second Mortgage
Unpaid Principal of Second Mortgage
Monthly Mortgage Payment (Principal and Interest Only)
Interest Rate
Refinancing
Interest Rate of Refinancing
Term (Years) of Refinancing
Closing Costs (% Points)$ %
Financing the Closing Costs?Yes No
Results
Monthly Payment if Refinanced
Monthly Payment Change
Time to Offset Closing Costs by Interest Savings
Interest Paid Under Current Monthly Payment Plan
Interest Paid Under Refinanced Monthly Payment Plan
Interest Saved if Refinanced
Net Refinancing Savings (Net of Closing Costs)

If you refinance your current 3.79% mortgage and your current 3.79% mortgage into a single 3.79% mortgage, your monthly payment will decrease by $1,033.35 and you will pay an additional $91,189.48 in interest charges over the life of the mortgage.

Sergio Avelino

Address:1440 Don Mills Rd., #108
Toronto, Ontario
M3B 3M1
Direct:416.554.4267
Email:SergioJ.Avelino@gmail.com