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Loan Amount:
$100,000 Up To $4,000,000, Cash Out.
Single Family Residence – Owner user,
Refunded: Closing costs: $1,120 and Appraisal at COE.
Refinance:
$500,000 house: @30YRS,
2.25% start rate, 5YRS*, $1,911mo.
| a. Variable Int Rate:
|
@5.5% interest only |
= $2,900 month |
| b. Negative amount: |
@$381 mo x 12months |
= $4,572 YR |
| c. Saving per month: |
@$1,911mo (-) $2,900 |
= $989 mo extra cash |
| d. Value increase/YR**: |
@5% per YR |
= $25,000+ YR |
| e. Five YR increased value: |
@$138,000 value (-) $22,800
negative |
= $115,200 |
5
years: Use of $989 per month for 5 years + Appreciated Value $115,200 -
*Start Rate: Fixed for five years OR payment increase of 7.5% per
year for 5 years.
** Based on 5% per year appreciation!
Payment REDUCED by $989 per
month!
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ACTUAL APPRECIATION:
2005=20%, 2004=15%
year, 2003=15%, 2002=15%
Refinance
$500,000 house:
@40YRS,
2.25% start rate-5YRS, $1,565mo |
| a. Variable Interest Rate: |
@5.5% interest only |
= $ 2,580 month |
| b. Negative amount: |
@$461 month x 12 |
= $5,532 YR |
| c. Saving per month: |
@$1,575mo (-) $2,500 |
= $1,005 month extra cash |
| d. Value increase**: |
@5% per year |
= $25,000+ per year |
| e. Five year increased value: |
@$138,000value (-)
$27,660negative |
= $110,339 |
5 years: Use of $1,005 per month for 5
years + Appreciated Value $110,339
Payment REDUCED by $1,005 per
month!
Purchase: $500,000 house @ 100% Financing
First TD:
$400,000 @40yrs,
2.25% start rate -
5yrs, 5.5% interest = $1,253month
2nd TD:
$100,000 @10yrs,10.0% interest, interest only = $1,000
month
Total payments 1st and 2nd loans = $2,252month
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Disclaimer:
Rates quoted and loan programs shown are subject to:
Borrowers history, Borrower financial
ability, Property appraisal,
Availability of loan programs, and Requirements of
lender.
On Approved Credit. |
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