Will you have your mortgage 8 years from now?
It takes 8+ years to earn back closing costs.
 
Will you have your mortgage 8 years from now?
It takes 8+ years to earn back closing costs.
 
  With Closing Costs No Closing Costs
Loan Amount $250,000 $250,000
Interest Rate 5.500% 5.750%
Principle & Interest Payment $1419.47 $1458.93
Closing Costs $3,000 $0
Monthly Payment Difference $39.46
Simplified Breakdown 6.24 years
Tax Rate 20%
Time Value of Money 8%
Breakeven (Time to earn back closing costs) 8.21 years
  With Closing Costs No Closing Costs
Loan Amount $250,000 $250,000
Interest Rate 5.500% 5.750%
Principle & Interest Payment $1419.47 $1458.93
Closing Costs $3,000 $0
Monthly Payment Difference $39.46
Simplified Breakdown 6.24 years
Tax Rate 20%
Time Value of Money 8%
Breakeven (Time to earn back closing costs) 8.21 years
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