New Payment by Term: PMT and the Monthly Saving
This lesson is part of the course
In this lesson
You price four refinance terms on the Reyeses' balance and see which ones really lower the payment and how many months each adds or cuts.
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Lessons in this course
- Where You Stand: Remaining Balance with CUMPRINC & CUMIPMT Locked
- New Payment by Term: PMT and the Monthly Saving Locked
- Closing Costs & the Break-Even Month Locked
- Points vs Rate: Buy-Downs, Lender Credits & Their Break-Even Locked
- Total Interest: The Term-Extension Trap Locked
- Cash-Out Refinance: New LTV & the True Cost of the Cash Locked
- ARM Reset Scenarios: Index + Margin, Caps & the Payment Path (Chart) Locked
- Refinance Decision Table: NPV of the Savings (Chart) Locked