Refinance Loan Comparison Calculator

Insights

It looks like your goal is to

grow your net worth

New Loan 1

is probably the best option, but it depends on how long you keep the loan.

New Loan 1

is best as long as you know you won't cash out (sell or cash-out refinance) in the first 2 years, 10 months

Current Loan

is best if you think you may cash out (sell or cash-out refinance) in the next 2 years, 10 months

This assumes 8% annual return on outside investments

You can adjust this assumption

Loan Comparisons

Time:

0123456789101112131415161718192021222324252627282930$0$350,000$700,000$1,355,514
  • New Loan 1
  • Current Loan

(Vertical lines mark loan payoff dates)

This is how your money ($15,000 upfront + $2,923 each month) will grow your net worth (more details)

Your investment strategy: All savings are invested in the market and earn an annual return of 8% each year

Edit investment strategy

These lines are the sum of: (principal paid) + (outside investments)

CSV Download

If you would like to do further analysis (e.g. adjust for tax savings), you can download the graph data for each of the loans as a csv file, and play with the data in your favorite spreadsheet program!

About

CT

My name is Chris Talley, and I'm a software engineer with a passion for personal finance. Disappointed with the lack of rigor in the financial analysis tools that are available online, I often find myself putting together complicated spreadsheets in order to answer important financial questions. I created the Rational Riches website to help others gain a rigorous understanding of their most important financial decisions.

🚨 I am not an accountant or financial advisor 🚨All information provided here should be verified and vetted by you, your family, and your financial counsel.

Thank you for visiting Rational Riches. Feel free to contact me if you have any problems, questions, or requests about this project.

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Outstanding balance

Interest rate

Current loan start date

💡 Not sure? Check Zillow for sale date

Term

PMI

$0