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 Mar, 2022 Mar, 2022

Loan Details & Amortization

YearPrincipalInterestTotalBalance
2017$3,290.14$1,059.74$4,349.88$21,709.86
2018$4,623.01$1,176.83$5,799.84$17,086.86
2019$4,908.14$891.70$5,799.84$12,178.71
2020$5,210.87$588.97$5,799.84$6,967.85
2021$5,532.26$267.58$5,799.84$1,435.58
2022$1,435.58$14.38$1,449.96$0.00
Totals: $25,000.00 $3,999.20 $28,999.20  
YearPrincipalInterestTotalBalance
2017$3,364.21$881.82$4,246.03$21,635.79
2018$4,686.00$975.37$5,661.37$16,949.79
2019$4,925.75$735.62$5,661.37$12,024.04
2020$5,177.76$483.61$5,661.37$6,846.29
2021$5,442.66$218.71$5,661.37$1,403.63
2022$1,403.63$11.71$1,415.34$0.00
Totals: $25,000.00 $3,306.85 $28,306.85