Current Loan

Loan Balance
Payment/mo
Interest Rate

Refinanced Loan

Term (Years)
Interest Rate

Refinancing Costs

Fees

Refinancing Summary

By refinancing your current loan balance of $25,000.00 at 5.00% over 5 years, you will decrease your monthly payments by $11.54. The total interest paid over the life of the loan will decrease by $692.35.

  Current Loan Refinanced Loan
Monthly Payment $483.32 $471.78
Total Payments
(including refinancing fees)
$28,999.20 $28,306.85
Total Interest $3,999.20 $3,306.85
Pay-off Date Jan, 2022 Jan, 2022

Loan Details & Amortization

YearPrincipalInterestTotalBalance
2017$4,041.55$1,274.97$5,316.52$20,958.45
2018$4,669.35$1,130.49$5,799.84$16,289.10
2019$4,957.35$842.49$5,799.84$11,331.75
2020$5,263.11$536.73$5,799.84$6,068.64
2021$5,587.72$212.12$5,799.84$480.92
2022$480.92$2.40$483.32$0.00
Totals: $25,000.00 $3,999.20 $28,999.20  
YearPrincipalInterestTotalBalance
2017$4,129.06$1,060.53$5,189.59$20,870.94
2018$4,725.13$936.24$5,661.37$16,145.81
2019$4,966.88$694.49$5,661.37$11,178.93
2020$5,220.99$440.38$5,661.37$5,957.93
2021$5,488.11$173.26$5,661.37$469.82
2022$469.82$1.96$471.78$0.00
Totals: $25,000.00 $3,306.85 $28,306.85