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 Feb, 2022 Feb, 2022

Loan Details & Amortization

YearPrincipalInterestTotalBalance
2017$3,664.91$1,168.29$4,833.20$21,335.09
2018$4,646.12$1,153.72$5,799.84$16,688.97
2019$4,932.68$867.16$5,799.84$11,756.29
2020$5,236.92$562.92$5,799.84$6,519.36
2021$5,559.92$239.92$5,799.84$959.44
2022$959.44$7.20$966.64$0.00
Totals: $25,000.00 $3,999.20 $28,999.20  
YearPrincipalInterestTotalBalance
2017$3,745.84$971.97$4,717.81$21,254.16
2018$4,705.53$955.84$5,661.37$16,548.63
2019$4,946.27$715.10$5,661.37$11,602.36
2020$5,199.33$462.04$5,661.37$6,403.03
2021$5,465.34$196.03$5,661.37$937.70
2022$937.70$5.86$943.56$0.00
Totals: $25,000.00 $3,306.85 $28,306.85