You borrowed $445,000 with a 30-year, fully amortized mortgage ten years ago. The rate on the loan is 3.625% and you hav

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899603
Joined: Mon Aug 02, 2021 8:13 am

You borrowed $445,000 with a 30-year, fully amortized mortgage ten years ago. The rate on the loan is 3.625% and you hav

Post by answerhappygod »

You Borrowed 445 000 With A 30 Year Fully Amortized Mortgage Ten Years Ago The Rate On The Loan Is 3 625 And You Hav 1
You Borrowed 445 000 With A 30 Year Fully Amortized Mortgage Ten Years Ago The Rate On The Loan Is 3 625 And You Hav 1 (31.58 KiB) Viewed 14 times
You borrowed $445,000 with a 30-year, fully amortized mortgage ten years ago. The rate on the loan is 3.625% and you have made 120 payments on the loan. A mortgage broker has identified a lender that will refinance your existing loan with a new 20- year mortgage with a rate of 2.75%. The upfront refinancing costs consist of 1.85 points. What is NPV of the refinancing if you believe that you will repay the loan over its full term?
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!
Top
Post Reply

Return to “Archived Questions & Answers”