ABCDEFGHIJKLMNOPQRSTUVWXYZAAABACADAEAFAG
1
Mortgage Loan and Refinancing Comparison (v2.0)
2
Praveen LoboMIT License
3
Download original copy (You need to be logged in to Google Drive)
4
5
Original or First LoanNew or Second Loan
6
Amount$680,000$289,000
7
Term3030
8
Rate3.000%2.625%
9
First payment date5/25/20215/25/2021
10
Cost$0.00$1,200.00
11
Mortgage interest tax saving/credit0.00%
Federal+State
12
Tax rate on investment gains15.00%
Federal+State
13
Return from side fund investments6.00%per year
14
Show every1.0years
15
Loan end dates4/25/20514/25/2051
16
Total Loan Interest$352,086.67$128,877.21
17
Monthly payment$2,866.91$1,160.77
18
Difference-$1,706.14less
19
20
21
Year0123456789101112131415161718192021222324252627282930
22
Date4/25/20214/25/20224/25/20234/25/20244/25/20254/25/20264/25/20274/25/20284/25/20294/25/20304/25/20314/25/20324/25/20334/25/20344/25/20354/25/20364/25/20374/25/20384/25/20394/25/20404/25/20414/25/20424/25/20434/25/20444/25/20454/25/20464/25/20474/25/20484/25/20494/25/20504/25/2051
23
30 year (Loan 1)Balance$680,000$665,803$651,174$636,100$620,568$604,563$588,072$571,079$553,569$535,526$516,935$497,778$478,038$457,698$436,740$415,144$392,891$369,961$346,334$321,988$296,902$271,053$244,417$216,971$188,691$159,550$129,523$98,583$66,701$33,850$0
24
30 year (Loan 2)Balance$289,000$282,580$275,990$269,224$262,279$255,149$247,830$240,316$232,603$224,685$216,556$208,212$199,645$190,851$181,824$172,557$163,043$153,277$143,251$132,959$122,393$111,547$100,412$88,982$77,248$65,203$52,837$40,142$27,111$13,733$0
25
30 year (Loan 1)
Interest paid
$0$20,206$39,980$59,309$78,180$96,578$114,489$131,899$148,792$165,152$180,964$196,210$210,873$224,936$238,380$251,187$263,337$274,810$285,586$295,643$304,960$313,513$321,281$328,238$334,360$339,622$343,998$347,461$349,982$351,534$352,087
26
30 year (Loan 2)
Interest paid
$0$7,509$14,848$22,012$28,996$35,795$42,405$48,821$55,037$61,048$66,849$72,433$77,796$82,932$87,833$92,495$96,911$101,074$104,977$108,614$111,978$115,061$117,856$120,355$122,550$124,434$125,997$127,232$128,130$128,681$128,877
27
30 year (Loan 1)Equity$0$14,197$28,826$43,900$59,432$75,437$91,928$108,921$126,431$144,474$163,065$182,222$201,962$222,302$243,260$264,856$287,109$310,039$333,666$358,012$383,098$408,947$435,583$463,029$491,309$520,450$550,477$581,417$613,299$646,150$680,000
28
30 year (Loan 2)Equity$0$6,420$13,010$19,776$26,721$33,851$41,170$48,684$56,397$64,315$72,444$80,788$89,355$98,149$107,176$116,443$125,957$135,723$145,749$156,041$166,607$177,453$188,588$200,018$211,752$223,797$236,163$248,858$261,889$275,267$289,000
29
30 year (Loan 1)Investment$0$1,261$1,326$1,395$1,468$1,545$1,627$1,714$1,806$1,903$2,007$2,116$2,232$2,356$2,486$2,624$2,771$2,927$3,091$3,266$3,451$3,648$3,856$4,076$4,310$4,558$4,820$5,099$5,394$5,707$6,038
30
30 year (Loan 2)Investment$0$20,955$42,975$66,132$90,494$116,134$143,128$171,557$201,508$233,072$266,345$301,430$338,436$377,478$418,679$462,167$508,080$556,564$607,773$661,869$719,028$779,431$843,275$910,765$982,120$1,057,572$1,137,367$1,221,765$1,311,043$1,405,494$1,505,427
31
30 year (Loan 1)Networth$0$15,458$30,152$45,295$60,900$76,982$93,555$110,635$128,237$146,377$165,072$184,338$204,194$224,657$245,746$267,481$289,880$312,965$336,757$361,278$386,549$412,595$439,439$467,105$495,619$525,008$555,297$586,516$618,693$651,856$686,038
32
30 year (Loan 2)Networth$0$27,374$55,985$85,908$117,215$149,985$184,298$220,241$257,905$297,387$338,789$382,218$427,791$475,627$525,855$578,610$634,037$692,287$753,522$817,911$885,635$956,884$1,031,862$1,110,783$1,193,872$1,281,369$1,373,530$1,470,623$1,572,932$1,680,760$1,794,427
33
Difference$0$11,916$25,833$40,613$56,316$73,003$90,743$109,606$129,668$151,010$173,717$197,880$223,597$250,970$280,109$311,130$344,157$379,322$416,764$456,633$499,085$544,290$592,424$643,678$698,253$756,362$818,233$884,107$954,240$1,028,904$1,108,388
34
35
Assumptions:
36
When both loans are active, the payment difference is saved/invested on the loan side that has the lower monthly payment.
37
If one of the loan ends, the monthly payment on the other loan is saved/invested on the loan side that has ended. To see it in action, enter the term as 1 and 2 (or 2 and 1) above and check out the table below.
38
If the second loan has not started, as is the case when refinancing, there is nothing to compare the first loan with so nothing is saved/invested. To see it in action, enter a first payment date on the second loan that starts after the first loan.
39
40
30 year loan (Loan 1)30 year loan (Loan 2)
41
DateMonthInterestPrincipalBalanceTax ReturnMonthly InvestmentInvestment BalanceAccrued TaxInvestment Balance After TaxDateMonthInterestPrincipalBalanceTax ReturnMonthly InvestmentInvestment BalanceAccrued TaxInvestment Balance After Tax
42
4/25/20210$680,000
43
5/25/20211$1,700$1,167$678,833$0$1,200$1,206$1$1,2055/25/20211$632$529$288,471$0$1,706$1,714$1$1,713
44
6/25/20212$1,697$1,170$677,663$0$0$1,212$2$1,2106/25/20212$631$530$287,942$0$1,706$3,429$2$3,426
45
7/25/20213$1,694$1,173$676,491$0$0$1,218$3$1,2157/25/20213$630$531$287,411$0$1,706$5,152$5$5,147
46
8/25/20214$1,691$1,176$675,315$0$0$1,224$4$1,2208/25/20214$629$532$286,879$0$1,706$6,883$9$6,874
47
9/25/20215$1,688$1,179$674,136$0$0$1,229$4$1,2259/25/20215$628$533$286,345$0$1,706$8,623$14$8,609
48
10/25/20216$1,685$1,182$672,955$0$0$1,235$5$1,23010/25/20216$626$534$285,811$0$1,706$10,371$20$10,351
49
11/25/20217$1,682$1,185$671,770$0$0$1,241$6$1,23511/25/20217$625$536$285,276$0$1,706$12,127$28$12,100
50
12/25/20218$1,679$1,187$670,583$0$0$1,248$7$1,24012/25/20218$624$537$284,739$0$1,706$13,893$37$13,856
51
1/25/20229$1,676$1,190$669,392$0$0$1,254$8$1,2461/25/20229$623$538$284,201$0$1,706$15,666$47$15,620
52
2/25/202210$1,673$1,193$668,199$0$0$1,260$9$1,2512/25/202210$622$539$283,662$0$1,706$17,449$58$17,391
53
3/25/202211$1,670$1,196$667,002$0$0$1,266$10$1,2563/25/202211$621$540$283,122$0$1,706$19,240$71$19,169
54
4/25/202212$1,668$1,199$665,803$0$0$1,272$11$1,2614/25/202212$619$541$282,580$0$1,706$21,040$85$20,955
55
5/25/202213$1,665$1,202$664,601$0$0$1,278$12$1,2665/25/202213$618$543$282,038$0$1,706$22,848$100$22,748
56
6/25/202214$1,662$1,205$663,395$0$0$1,284$13$1,2726/25/202214$617$544$281,494$0$1,706$24,665$117$24,548
57
7/25/202215$1,658$1,208$662,187$0$0$1,291$14$1,2777/25/202215$616$545$280,949$0$1,706$26,492$135$26,357
58
8/25/202216$1,655$1,211$660,975$0$0$1,297$15$1,2828/25/202216$615$546$280,402$0$1,706$28,327$154$28,172
59
9/25/202217$1,652$1,214$659,761$0$0$1,303$15$1,2889/25/202217$613$547$279,855$0$1,706$30,171$175$29,996
60
10/25/202218$1,649$1,218$658,543$0$0$1,310$16$1,29310/25/202218$612$549$279,307$0$1,706$32,024$197$31,827
61
11/25/202219$1,646$1,221$657,323$0$0$1,316$17$1,29911/25/202219$611$550$278,757$0$1,706$33,886$220$33,665
62
12/25/202220$1,643$1,224$656,099$0$0$1,322$18$1,30412/25/202220$610$551$278,206$0$1,706$35,757$245$35,512
63
1/25/202321$1,640$1,227$654,873$0$0$1,329$19$1,3091/25/202321$609$552$277,654$0$1,706$37,637$271$37,366
64
2/25/202322$1,637$1,230$653,643$0$0$1,335$20$1,3152/25/202322$607$553$277,100$0$1,706$39,526$299$39,228
65
3/25/202323$1,634$1,233$652,410$0$0$1,342$21$1,3213/25/202323$606$555$276,546$0$1,706$41,425$328$41,097
66
4/25/202324$1,631$1,236$651,174$0$0$1,348$22$1,3264/25/202324$605$556$275,990$0$1,706$43,333$358$42,975
67
5/25/202325$1,628$1,239$649,935$0$0$1,355$23$1,3325/25/202325$604$557$275,433$0$1,706$45,250$389$44,860
68
6/25/202326$1,625$1,242$648,693$0$0$1,361$24$1,3376/25/202326$603$558$274,874$0$1,706$47,176$422$46,754
69
7/25/202327$1,622$1,245$647,448$0$0$1,368$25$1,3437/25/202327$601$559$274,315$0$1,706$49,112$457$48,655
70
8/25/202328$1,619$1,248$646,200$0$0$1,375$26$1,3498/25/202328$600$561$273,754$0$1,706$51,057$493$50,564
71
9/25/202329$1,615$1,251$644,948$0$0$1,381$27$1,3549/25/202329$599$562$273,192$0$1,706$53,012$530$52,482
72
10/25/202330$1,612$1,255$643,694$0$0$1,388$28$1,36010/25/202330$598$563$272,629$0$1,706$54,976$569$54,407
73
11/25/202331$1,609$1,258$642,436$0$0$1,395$29$1,36611/25/202331$596$564$272,065$0$1,706$56,950$609$56,341
74
12/25/202332$1,606$1,261$641,175$0$0$1,402$30$1,37112/25/202332$595$566$271,499$0$1,706$58,933$650$58,282
75
1/25/202433$1,603$1,264$639,911$0$0$1,409$31$1,3771/25/202433$594$567$270,932$0$1,706$60,926$694$60,232
76
2/25/202434$1,600$1,267$638,644$0$0$1,415$32$1,3832/25/202434$593$568$270,364$0$1,706$62,929$738$62,191
77
3/25/202435$1,597$1,270$637,374$0$0$1,422$33$1,3893/25/202435$591$569$269,795$0$1,706$64,941$784$64,157
78
4/25/202436$1,593$1,273$636,100$0$0$1,429$34$1,3954/25/202436$590$571$269,224$0$1,706$66,963$831$66,132
79
5/25/202437$1,590$1,277$634,824$0$0$1,436$35$1,4015/25/202437$589$572$268,652$0$1,706$68,995$880$68,115
80
6/25/202438$1,587$1,280$633,544$0$0$1,443$36$1,4076/25/202438$588$573$268,079$0$1,706$71,037$931$70,107
81
7/25/202439$1,584$1,283$632,261$0$0$1,450$38$1,4137/25/202439$586$574$267,505$0$1,706$73,089$982$72,107
82
8/25/202440$1,581$1,286$630,974$0$0$1,457$39$1,4198/25/202440$585$576$266,929$0$1,706$75,151$1,036$74,115
83
9/25/202441$1,577$1,289$629,685$0$0$1,464$40$1,4259/25/202441$584$577$266,352$0$1,706$77,223$1,091$76,132
84
10/25/202442$1,574$1,293$628,392$0$0$1,471$41$1,43110/25/202442$583$578$265,774$0$1,706$79,305$1,147$78,158
85
11/25/202443$1,571$1,296$627,096$0$0$1,479$42$1,43711/25/202443$581$579$265,195$0$1,706$81,397$1,205$80,192
86
12/25/202444$1,568$1,299$625,797$0$0$1,486$43$1,44312/25/202444$580$581$264,614$0$1,706$83,500$1,264$82,235
87
1/25/202545$1,564$1,302$624,495$0$0$1,493$44$1,4491/25/202545$579$582$264,032$0$1,706$85,612$1,325$84,287
88
2/25/202546$1,561$1,306$623,189$0$0$1,500$45$1,4552/25/202546$578$583$263,449$0$1,706$87,735$1,388$86,347
89
3/25/202547$1,558$1,309$621,880$0$0$1,508$46$1,4613/25/202547$576$584$262,865$0$1,706$89,868$1,452$88,416
90
4/25/202548$1,555$1,312$620,568$0$0$1,515$47$1,4684/25/202548$575$586$262,279$0$1,706$92,012$1,518$90,494
91
5/25/202549$1,551$1,315$619,253$0$0$1,522$48$1,4745/25/202549$574$587$261,692$0$1,706$94,166$1,585$92,581
92
6/25/202550$1,548$1,319$617,934$0$0$1,530$49$1,4806/25/202550$572$588$261,104$0$1,706$96,330$1,654$94,677
93
7/25/202551$1,545$1,322$616,612$0$0$1,537$51$1,4877/25/202551$571$590$260,514$0$1,706$98,505$1,724$96,782
94
8/25/202552$1,542$1,325$615,286$0$0$1,545$52$1,4938/25/202552$570$591$259,923$0$1,706$100,691$1,796$98,895
95
9/25/202553$1,538$1,329$613,958$0$0$1,552$53$1,4999/25/202553$569$592$259,331$0$1,706$102,887$1,869$101,018
96
10/25/202554$1,535$1,332$612,626$0$0$1,560$54$1,50610/25/202554$567$593$258,737$0$1,706$105,094$1,944$103,150
97
11/25/202555$1,532$1,335$611,290$0$0$1,567$55$1,51211/25/202555$566$595$258,143$0$1,706$107,312$2,021$105,291
98
12/25/202556$1,528$1,339$609,952$0$0$1,575$56$1,51912/25/202556$565$596$257,547$0$1,706$109,540$2,100$107,441
99
1/25/202657$1,525$1,342$608,610$0$0$1,583$57$1,5251/25/202657$563$597$256,949$0$1,706$111,780$2,179$109,600
100
2/25/202658$1,522$1,345$607,264$0$0$1,590$59$1,5322/25/202658$562$599$256,350$0$1,706$114,030$2,261$111,769