Here I show you simplified, but still more correct, method to calculate the benefits from refinancing a mortgage. Contrary to what many say, it is NOT how much your payment will go down! You also have to look at the increase in the amount going toward principal, which is money you own! The calculations I show are a bit simplified compared to the EXACT method of calculating things, but I did it this way to make it more accessible-- and the results are still pretty accurate.
If you would like a more accurate way, here is a video about making your own amortization table (or you can download the one I made): [ Ссылка ]
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BurkeyAcademy is a service provided by Dr. Mark L. Burkey, an Economics Professor who loves finding ways to make difficult subjects just a little bit easier to understand.
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