Monthly Mortgage Payment Before Refinancing at 30 Years 7.

25%

30 Year 7.25%
FV 0
PV -240000 (300,000 - 20% Downpayment (60,000))
N 360 (30 years x 12 months/yr)
I/Y ### (7.25% / 12 months)
PMT $1,637.22 Monthly mortgage payment
Amount Borrowed 240000
Periods 360
Rate 0.0060416666667
Payment $1,637.22
Months Beginning PMT Interest Principal Ending Balance
1 $ 240,000.00 $1,637.22 $ 1,450.00 $187.22 $ 239,812.78
2 $ 239,812.78 $1,637.22 $ 1,448.87 $188.35 $ 239,624.42
3 $ 239,624.42 $1,637.22 $ 1,447.73 $189.49 $ 239,434.93
4 $ 239,434.93 $1,637.22 $ 1,446.59 $190.64 $ 239,244.29
5 $ 239,244.29 $1,637.22 $ 1,445.43 $191.79 $ 239,052.50
6 $ 239,052.50 $1,637.22 $ 1,444.28 $192.95 $ 238,859.56
7 $ 238,859.56 $1,637.22 $ 1,443.11 $194.11 $ 238,665.44
8 $ 238,665.44 $1,637.22 $ 1,441.94 $195.29 $ 238,470.16
9 $ 238,470.16 $1,637.22 $ 1,440.76 $196.47 $ 238,273.69
10 $ 238,273.69 $1,637.22 $ 1,439.57 $197.65 $ 238,076.04
11 $ 238,076.04 $1,637.22 $ 1,438.38 $198.85 $ 237,877.19
12 $ 237,877.19 $1,637.22 $ 1,437.17 $200.05 $ 237,677.14
13 $ 237,677.14 $1,637.22 $ 1,435.97 $201.26 $ 237,475.89
14 $ 237,475.89 $1,637.22 $ 1,434.75 $202.47 $ 237,273.41
15 $ 237,273.41 $1,637.22 $ 1,433.53 $203.70 $ 237,069.72
16 $ 237,069.72 $1,637.22 $ 1,432.30 $204.93 $ 236,864.79
17 $ 236,864.79 $1,637.22 $ 1,431.06 $206.16 $ 236,658.63
18 $ 236,658.63 $1,637.22 $ 1,429.81 $207.41 $ 236,451.22
19 $ 236,451.22 $1,637.22 $ 1,428.56 $208.66 $ 236,242.55
20 $ 236,242.55 $1,637.22 $ 1,427.30 $209.92 $ 236,032.63
21 $ 236,032.63 $1,637.22 $ 1,426.03 $211.19 $ 235,821.43
22 $ 235,821.43 $1,637.22 $ 1,424.75 $212.47 $ 235,608.97
23 $ 235,608.97 $1,637.22 $ 1,423.47 $213.75 $ 235,395.21
24 $ 235,395.21 $1,637.22 $ 1,422.18 $215.04 $ 235,180.17
25 $ 235,180.17 $1,637.22 $ 1,420.88 $216.34 $ 234,963.83
26 $ 234,963.83 $1,637.22 $ 1,419.57 $217.65 $ 234,746.18
27 $ 234,746.18 $1,637.22 $ 1,418.26 $218.96 $ 234,527.21
28 $ 234,527.21 $1,637.22 $ 1,416.94 $220.29 $ 234,306.92
29 $ 234,306.92 $1,637.22 $ 1,415.60 $221.62 $ 234,085.31
30 $ 234,085.31 $1,637.22 $ 1,414.27 $222.96 $ 233,862.35
31 $ 233,862.35 $1,637.22 $ 1,412.92 $224.30 $ 233,638.04
32 $ 233,638.04 $1,637.22 $ 1,411.56 $225.66 $ 233,412.38
33 $ 233,412.38 $1,637.22 $ 1,410.20 $227.02 $ 233,185.36
34 $ 233,185.36 $1,637.22 $ 1,408.83 $228.39 $ 232,956.97
35 $ 232,956.97 $1,637.22 $ 1,407.45 $229.77 $ 232,727.19
36 $ 232,727.19 $1,637.22 $ 1,406.06 $231.16 $ 232,496.03
37 $ 232,496.03 $1,637.22 $ 1,404.66 $232.56 $ 232,263.47
38 $ 232,263.47 $1,637.22 $ 1,403.26 $233.96 $ 232,029.50
39 $ 232,029.50 $1,637.22 $ 1,401.84 $235.38 $ 231,794.13
40 $ 231,794.13 $1,637.22 $ 1,400.42 $236.80 $ 231,557.33
41 $ 231,557.33 $1,637.22 $ 1,398.99 $238.23 $ 231,319.09
42 $ 231,319.09 $1,637.22 $ 1,397.55 $239.67 $ 231,079.42
43 $ 231,079.42 $1,637.22 $ 1,396.10 $241.12 $ 230,838.31
44 $ 230,838.31 $1,637.22 $ 1,394.65 $242.57 $ 230,595.73
45 $ 230,595.73 $1,637.22 $ 1,393.18 $244.04 $ 230,351.69
46 $ 230,351.69 $1,637.22 $ 1,391.71 $245.51 $ 230,106.18
47 $ 230,106.18 $1,637.22 $ 1,390.22 $247.00 $ 229,859.18
48 $ 229,859.18 $1,637.22 $ 1,388.73 $248.49 $ 229,610.69
49 $ 229,610.69 $1,637.22 $ 1,387.23 $249.99 $ 229,360.69
50 $ 229,360.69 $1,637.22 $ 1,385.72 $251.50 $ 229,109.19
51 $ 229,109.19 $1,637.22 $ 1,384.20 $253.02 $ 228,856.17
52 $ 228,856.17 $1,637.22 $ 1,382.67 $254.55 $ 228,601.62
53 $ 228,601.62 $1,637.22 $ 1,381.13 $256.09 $ 228,345.53
54 $ 228,345.53 $1,637.22 $ 1,379.59 $257.64 $ 228,087.90
55 $ 228,087.90 $1,637.22 $ 1,378.03 $259.19 $ 227,828.70
56 $ 227,828.70 $1,637.22 $ 1,376.47 $260.76 $ 227,567.95
57 $ 227,567.95 $1,637.22 $ 1,374.89 $262.33 $ 227,305.61
58 $ 227,305.61 $1,637.22 $ 1,373.30 $263.92 $ 227,041.70
59 $ 227,041.70 $1,637.22 $ 1,371.71 $265.51 $ 226,776.18
60 $ 226,776.18 $1,637.22 $ 1,370.11 $267.12 $ 226,509.07
61 $ 226,509.07 $1,637.22 $ 1,368.49 $268.73 $ 226,240.33
62 $ 226,240.33 $1,637.22 $ 1,366.87 $270.35 $ 225,969.98
63 $ 225,969.98 $1,637.22 $ 1,365.24 $271.99 $ 225,697.99
64 $ 225,697.99 $1,637.22 $ 1,363.59 $273.63 $ 225,424.36
65 $ 225,424.36 $1,637.22 $ 1,361.94 $275.28 $ 225,149.08
66 $ 225,149.08 $1,637.22 $ 1,360.28 $276.95 $ 224,872.13
67 $ 224,872.13 $1,637.22 $ 1,358.60 $278.62 $ 224,593.51
68 $ 224,593.51 $1,637.22 $ 1,356.92 $280.30 $ 224,313.21
69 $ 224,313.21 $1,637.22 $ 1,355.23 $282.00 $ 224,031.21
70 $ 224,031.21 $1,637.22 $ 1,353.52 $283.70 $ 223,747.51
71 $ 223,747.51 $1,637.22 $ 1,351.81 $285.42 $ 223,462.09
72 $ 223,462.09 $1,637.22 $ 1,350.08 $287.14 $ 223,174.95
73 $ 223,174.95 $1,637.22 $ 1,348.35 $288.87 $ 222,886.08
74 $ 222,886.08 $1,637.22 $ 1,346.60 $290.62 $ 222,595.46
75 $ 222,595.46 $1,637.22 $ 1,344.85 $292.38 $ 222,303.08
76 $ 222,303.08 $1,637.22 $ 1,343.08 $294.14 $ 222,008.94
77 $ 222,008.94 $1,637.22 $ 1,341.30 $295.92 $ 221,713.02
78 $ 221,713.02 $1,637.22 $ 1,339.52 $297.71 $ 221,415.31
79 $ 221,415.31 $1,637.22 $ 1,337.72 $299.51 $ 221,115.81
80 $ 221,115.81 $1,637.22 $ 1,335.91 $301.32 $ 220,814.49
81 $ 220,814.49 $1,637.22 $ 1,334.09 $303.14 $ 220,511.36
82 $ 220,511.36 $1,637.22 $ 1,332.26 $304.97 $ 220,206.39
83 $ 220,206.39 $1,637.22 $ 1,330.41 $306.81 $ 219,899.58
84 $ 219,899.58 $1,637.22 $ 1,328.56 $308.66 $ 219,590.92
85 $ 219,590.92 $1,637.22 $ 1,326.70 $310.53 $ 219,280.39
86 $ 219,280.39 $1,637.22 $ 1,324.82 $312.40 $ 218,967.99
87 $ 218,967.99 $1,637.22 $ 1,322.93 $314.29 $ 218,653.70
88 $ 218,653.70 $1,637.22 $ 1,321.03 $316.19 $ 218,337.50
89 $ 218,337.50 $1,637.22 $ 1,319.12 $318.10 $ 218,019.40
90 $ 218,019.40 $1,637.22 $ 1,317.20 $320.02 $ 217,699.38
91 $ 217,699.38 $1,637.22 $ 1,315.27 $321.96 $ 217,377.43
 92 $ 217,377.43 $1,637.22 $ 1,313.32 $323.90 $ 217,053.52
93 $ 217,053.52 $1,637.22 $ 1,311.37 $325.86 $ 216,727.67
94 $ 216,727.67 $1,637.22 $ 1,309.40 $327.83 $ 216,399.84
95 $ 216,399.84 $1,637.22 $ 1,307.42 $329.81 $ 216,070.03
96 $ 216,070.03 $1,637.22 $ 1,305.42 $331.80 $ 215,738.23
97 $ 215,738.23 $1,637.22 $ 1,303.42 $333.80 $ 215,404.43
98 $ 215,404.43 $1,637.22 $ 1,301.40 $335.82 $ 215,068.61
99 $ 215,068.61 $1,637.22 $ 1,299.37 $337.85 $ 214,730.76
100 $ 214,730.76 $1,637.22 $ 1,297.33 $339.89 $ 214,390.86
101 $ 214,390.86 $1,637.22 $ 1,295.28 $341.94 $ 214,048.92
102 $ 214,048.92 $1,637.22 $ 1,293.21 $344.01 $ 213,704.91
103 $ 213,704.91 $1,637.22 $ 1,291.13 $346.09 $ 213,358.82
104 $ 213,358.82 $1,637.22 $ 1,289.04 $348.18 $ 213,010.64
105 $ 213,010.64 $1,637.22 $ 1,286.94 $350.28 $ 212,660.36
106 $ 212,660.36 $1,637.22 $ 1,284.82 $352.40 $ 212,307.96
107 $ 212,307.96 $1,637.22 $ 1,282.69 $354.53 $ 211,953.43
108 $ 211,953.43 $1,637.22 $ 1,280.55 $356.67 $ 211,596.76
109 $ 211,596.76 $1,637.22 $ 1,278.40 $358.83 $ 211,237.93
110 $ 211,237.93 $1,637.22 $ 1,276.23 $360.99 $ 210,876.94
111 $ 210,876.94 $1,637.22 $ 1,274.05 $363.17 $ 210,513.76
112 $ 210,513.76 $1,637.22 $ 1,271.85 $365.37 $ 210,148.39
113 $ 210,148.39 $1,637.22 $ 1,269.65 $367.58 $ 209,780.81
114 $ 209,780.81 $1,637.22 $ 1,267.43 $369.80 $ 209,411.02
115 $ 209,411.02 $1,637.22 $ 1,265.19 $372.03 $ 209,038.99
116 $ 209,038.99 $1,637.22 $ 1,262.94 $374.28 $ 208,664.71
117 $ 208,664.71 $1,637.22 $ 1,260.68 $376.54 $ 208,288.17
118 $ 208,288.17 $1,637.22 $ 1,258.41 $378.82 $ 207,909.35
119 $ 207,909.35 $1,637.22 $ 1,256.12 $381.10 $ 207,528.25
120 $ 207,528.25 $1,637.22 $ 1,253.82 $383.41 $ 207,144.84
121 $ 207,144.84 $1,637.22 $ 1,251.50 $385.72 $ 206,759.12
122 $ 206,759.12 $1,637.22 $ 1,249.17 $388.05 $ 206,371.06
123 $ 206,371.06 $1,637.22 $ 1,246.83 $390.40 $ 205,980.67
124 $ 205,980.67 $1,637.22 $ 1,244.47 $392.76 $ 205,587.91
125 $ 205,587.91 $1,637.22 $ 1,242.09 $395.13 $ 205,192.78
126 $ 205,192.78 $1,637.22 $ 1,239.71 $397.52 $ 204,795.26
127 $ 204,795.26 $1,637.22 $ 1,237.30 $399.92 $ 204,395.35
128 $ 204,395.35 $1,637.22 $ 1,234.89 $402.33 $ 203,993.01
129 $ 203,993.01 $1,637.22 $ 1,232.46 $404.77 $ 203,588.25
130 $ 203,588.25 $1,637.22 $ 1,230.01 $407.21 $ 203,181.03
131 $ 203,181.03 $1,637.22 $ 1,227.55 $409.67 $ 202,771.36
132 $ 202,771.36 $1,637.22 $ 1,225.08 $412.15 $ 202,359.22
133 $ 202,359.22 $1,637.22 $ 1,222.59 $414.64 $ 201,944.58
134 $ 201,944.58 $1,637.22 $ 1,220.08 $417.14 $ 201,527.44
135 $ 201,527.44 $1,637.22 $ 1,217.56 $419.66 $ 201,107.78
136 $ 201,107.78 $1,637.22 $ 1,215.03 $422.20 $ 200,685.58
137 $ 200,685.58 $1,637.22 $ 1,212.48 $424.75 $ 200,260.83
138 $ 200,260.83 $1,637.22 $ 1,209.91 $427.31 $ 199,833.52
139 $ 199,833.52 $1,637.22 $ 1,207.33 $429.90 $ 199,403.62
140 $ 199,403.62 $1,637.22 $ 1,204.73 $432.49 $ 198,971.13
141 $ 198,971.13 $1,637.22 $ 1,202.12 $435.11 $ 198,536.03
142 $ 198,536.03 $1,637.22 $ 1,199.49 $437.73 $ 198,098.29
143 $ 198,098.29 $1,637.22 $ 1,196.84 $440.38 $ 197,657.91
144 $ 197,657.91 $1,637.22 $ 1,194.18 $443.04 $ 197,214.87
145 $ 197,214.87 $1,637.22 $ 1,191.51 $445.72 $ 196,769.16
146 $ 196,769.16 $1,637.22 $ 1,188.81 $448.41 $ 196,320.75
147 $ 196,320.75 $1,637.22 $ 1,186.10 $451.12 $ 195,869.63
148 $ 195,869.63 $1,637.22 $ 1,183.38 $453.84 $ 195,415.78
149 $ 195,415.78 $1,637.22 $ 1,180.64 $456.59 $ 194,959.20
150 $ 194,959.20 $1,637.22 $ 1,177.88 $459.34 $ 194,499.85
151 $ 194,499.85 $1,637.22 $ 1,175.10 $462.12 $ 194,037.73
152 $ 194,037.73 $1,637.22 $ 1,172.31 $464.91 $ 193,572.82
153 $ 193,572.82 $1,637.22 $ 1,169.50 $467.72 $ 193,105.10
154 $ 193,105.10 $1,637.22 $ 1,166.68 $470.55 $ 192,634.55
155 $ 192,634.55 $1,637.22 $ 1,163.83 $473.39 $ 192,161.17
156 $ 192,161.17 $1,637.22 $ 1,160.97 $476.25 $ 191,684.92
157 $ 191,684.92 $1,637.22 $ 1,158.10 $479.13 $ 191,205.79
158 $ 191,205.79 $1,637.22 $ 1,155.20 $482.02 $ 190,723.77
159 $ 190,723.77 $1,637.22 $ 1,152.29 $484.93 $ 190,238.83
160 $ 190,238.83 $1,637.22 $ 1,149.36 $487.86 $ 189,750.97
161 $ 189,750.97 $1,637.22 $ 1,146.41 $490.81 $ 189,260.16
162 $ 189,260.16 $1,637.22 $ 1,143.45 $493.78 $ 188,766.38
163 $ 188,766.38 $1,637.22 $ 1,140.46 $496.76 $ 188,269.62
164 $ 188,269.62 $1,637.22 $ 1,137.46 $499.76 $ 187,769.86
165 $ 187,769.86 $1,637.22 $ 1,134.44 $502.78 $ 187,267.08
166 $ 187,267.08 $1,637.22 $ 1,131.41 $505.82 $ 186,761.27
167 $ 186,761.27 $1,637.22 $ 1,128.35 $508.87 $ 186,252.39
168 $ 186,252.39 $1,637.22 $ 1,125.27 $511.95 $ 185,740.44
169 $ 185,740.44 $1,637.22 $ 1,122.18 $515.04 $ 185,225.40
170 $ 185,225.40 $1,637.22 $ 1,119.07 $518.15 $ 184,707.25
171 $ 184,707.25 $1,637.22 $ 1,115.94 $521.28 $ 184,185.97
172 $ 184,185.97 $1,637.22 $ 1,112.79 $524.43 $ 183,661.53
173 $ 183,661.53 $1,637.22 $ 1,109.62 $527.60 $ 183,133.93
174 $ 183,133.93 $1,637.22 $ 1,106.43 $530.79 $ 182,603.14
175 $ 182,603.14 $1,637.22 $ 1,103.23 $534.00 $ 182,069.15
176 $ 182,069.15 $1,637.22 $ 1,100.00 $537.22 $ 181,531.92
177 $ 181,531.92 $1,637.22 $ 1,096.76 $540.47 $ 180,991.46
178 $ 180,991.46 $1,637.22 $ 1,093.49 $543.73 $ 180,447.72
179 $ 180,447.72 $1,637.22 $ 1,090.20 $547.02 $ 179,900.71
180 $ 179,900.71 $1,637.22 $ 1,086.90 $550.32 $ 179,350.38
181 $ 179,350.38 $1,637.22 $ 1,083.58 $553.65 $ 178,796.74
182 $ 178,796.74 $1,637.22 $ 1,080.23 $556.99 $ 178,239.74
183 $ 178,239.74 $1,637.22 $ 1,076.87 $560.36 $ 177,679.38
184 $ 177,679.38 $1,637.22 $ 1,073.48 $563.74 $ 177,115.64
185 $ 177,115.64 $1,637.22 $ 1,070.07 $567.15 $ 176,548.49
186 $ 176,548.49 $1,637.22 $ 1,066.65 $570.58 $ 175,977.92
187 $ 175,977.92 $1,637.22 $ 1,063.20 $574.02 $ 175,403.89
188 $ 175,403.89 $1,637.22 $ 1,059.73 $577.49 $ 174,826.40
189 $ 174,826.40 $1,637.22 $ 1,056.24 $580.98 $ 174,245.42
190 $ 174,245.42 $1,637.22 $ 1,052.73 $584.49 $ 173,660.93
191 $ 173,660.93 $1,637.22 $ 1,049.20 $588.02 $ 173,072.91
192 $ 173,072.91 $1,637.22 $ 1,045.65 $591.57 $ 172,481.33
193 $ 172,481.33 $1,637.22 $ 1,042.07 $595.15 $ 171,886.19
194 $ 171,886.19 $1,637.22 $ 1,038.48 $598.74 $ 171,287.44
195 $ 171,287.44 $1,637.22 $ 1,034.86 $602.36 $ 170,685.08
196 $ 170,685.08 $1,637.22 $ 1,031.22 $606.00 $ 170,079.08
197 $ 170,079.08 $1,637.22 $ 1,027.56 $609.66 $ 169,469.42
198 $ 169,469.42 $1,637.22 $ 1,023.88 $613.35 $ 168,856.07
199 $ 168,856.07 $1,637.22 $ 1,020.17 $617.05 $ 168,239.02
200 $ 168,239.02 $1,637.22 $ 1,016.44 $620.78 $ 167,618.24
201 $ 167,618.24 $1,637.22 $ 1,012.69 $624.53 $ 166,993.71
202 $ 166,993.71 $1,637.22 $ 1,008.92 $628.30 $ 166,365.41
203 $ 166,365.41 $1,637.22 $ 1,005.12 $632.10 $ 165,733.31
204 $ 165,733.31 $1,637.22 $ 1,001.31 $635.92 $ 165,097.39
205 $ 165,097.39 $1,637.22 $ 997.46 $639.76 $ 164,457.63
206 $ 164,457.63 $1,637.22 $ 993.60 $643.62 $ 163,814.01
207 $ 163,814.01 $1,637.22 $ 989.71 $647.51 $ 163,166.50
208 $ 163,166.50 $1,637.22 $ 985.80 $651.43 $ 162,515.07
209 $ 162,515.07 $1,637.22 $ 981.86 $655.36 $ 161,859.71
210 $ 161,859.71 $1,637.22 $ 977.90 $659.32 $ 161,200.39
211 $ 161,200.39 $1,637.22 $ 973.92 $663.30 $ 160,537.08
212 $ 160,537.08 $1,637.22 $ 969.91 $667.31 $ 159,869.77
213 $ 159,869.77 $1,637.22 $ 965.88 $671.34 $ 159,198.43
214 $ 159,198.43 $1,637.22 $ 961.82 $675.40 $ 158,523.03
215 $ 158,523.03 $1,637.22 $ 957.74 $679.48 $ 157,843.55
216 $ 157,843.55 $1,637.22 $ 953.64 $683.58 $ 157,159.97
217 $ 157,159.97 $1,637.22 $ 949.51 $687.71 $ 156,472.25
218 $ 156,472.25 $1,637.22 $ 945.35 $691.87 $ 155,780.38
219 $ 155,780.38 $1,637.22 $ 941.17 $696.05 $ 155,084.33
220 $ 155,084.33 $1,637.22 $ 936.97 $700.26 $ 154,384.08
221 $ 154,384.08 $1,637.22 $ 932.74 $704.49 $ 153,679.59
222 $ 153,679.59 $1,637.22 $ 928.48 $708.74 $ 152,970.85
223 $ 152,970.85 $1,637.22 $ 924.20 $713.02 $ 152,257.82
224 $ 152,257.82 $1,637.22 $ 919.89 $717.33 $ 151,540.49
225 $ 151,540.49 $1,637.22 $ 915.56 $721.67 $ 150,818.83
226 $ 150,818.83 $1,637.22 $ 911.20 $726.03 $ 150,092.80
227 $ 150,092.80 $1,637.22 $ 906.81 $730.41 $ 149,362.39
228 $ 149,362.39 $1,637.22 $ 902.40 $734.83 $ 148,627.56
229 $ 148,627.56 $1,637.22 $ 897.96 $739.26 $ 147,888.30
230 $ 147,888.30 $1,637.22 $ 893.49 $743.73 $ 147,144.57
231 $ 147,144.57 $1,637.22 $ 889.00 $748.22 $ 146,396.34
232 $ 146,396.34 $1,637.22 $ 884.48 $752.75 $ 145,643.60
233 $ 145,643.60 $1,637.22 $ 879.93 $757.29 $ 144,886.30
234 $ 144,886.30 $1,637.22 $ 875.35 $761.87 $ 144,124.43
235 $ 144,124.43 $1,637.22 $ 870.75 $766.47 $ 143,357.96
236 $ 143,357.96 $1,637.22 $ 866.12 $771.10 $ 142,586.86
237 $ 142,586.86 $1,637.22 $ 861.46 $775.76 $ 141,811.10
238 $ 141,811.10 $1,637.22 $ 856.78 $780.45 $ 141,030.65
239 $ 141,030.65 $1,637.22 $ 852.06 $785.16 $ 140,245.49
240 $ 140,245.49 $1,637.22 $ 847.32 $789.91 $ 139,455.58
241 $ 139,455.58 $1,637.22 $ 842.54 $794.68 $ 138,660.90
242 $ 138,660.90 $1,637.22 $ 837.74 $799.48 $ 137,861.42
243 $ 137,861.42 $1,637.22 $ 832.91 $804.31 $ 137,057.11
244 $ 137,057.11 $1,637.22 $ 828.05 $809.17 $ 136,247.94
245 $ 136,247.94 $1,637.22 $ 823.16 $814.06 $ 135,433.89
246 $ 135,433.89 $1,637.22 $ 818.25 $818.98 $ 134,614.91
247 $ 134,614.91 $1,637.22 $ 813.30 $823.92 $ 133,790.98
248 $ 133,790.98 $1,637.22 $ 808.32 $828.90 $ 132,962.08
249 $ 132,962.08 $1,637.22 $ 803.31 $833.91 $ 132,128.17
250 $ 132,128.17 $1,637.22 $ 798.27 $838.95 $ 131,289.22
251 $ 131,289.22 $1,637.22 $ 793.21 $844.02 $ 130,445.21
252 $ 130,445.21 $1,637.22 $ 788.11 $849.12 $ 129,596.09
253 $ 129,596.09 $1,637.22 $ 782.98 $854.25 $ 128,741.84
254 $ 128,741.84 $1,637.22 $ 777.82 $859.41 $ 127,882.43
255 $ 127,882.43 $1,637.22 $ 772.62 $864.60 $ 127,017.83
256 $ 127,017.83 $1,637.22 $ 767.40 $869.82 $ 126,148.01
257 $ 126,148.01 $1,637.22 $ 762.14 $875.08 $ 125,272.93
258 $ 125,272.93 $1,637.22 $ 756.86 $880.37 $ 124,392.57
259 $ 124,392.57 $1,637.22 $ 751.54 $885.68 $ 123,506.88
260 $ 123,506.88 $1,637.22 $ 746.19 $891.04 $ 122,615.85
261 $ 122,615.85 $1,637.22 $ 740.80 $896.42 $ 121,719.43
262 $ 121,719.43 $1,637.22 $ 735.39 $901.83 $ 120,817.59
263 $ 120,817.59 $1,637.22 $ 729.94 $907.28 $ 119,910.31
264 $ 119,910.31 $1,637.22 $ 724.46 $912.76 $ 118,997.54
265 $ 118,997.54 $1,637.22 $ 718.94 $918.28 $ 118,079.26
266 $ 118,079.26 $1,637.22 $ 713.40 $923.83 $ 117,155.44
267 $ 117,155.44 $1,637.22 $ 707.81 $929.41 $ 116,226.03
268 $ 116,226.03 $1,637.22 $ 702.20 $935.02 $ 115,291.00
269 $ 115,291.00 $1,637.22 $ 696.55 $940.67 $ 114,350.33
270 $ 114,350.33 $1,637.22 $ 690.87 $946.36 $ 113,403.97
271 $ 113,403.97 $1,637.22 $ 685.15 $952.07 $ 112,451.90
272 $ 112,451.90 $1,637.22 $ 679.40 $957.83 $ 111,494.07
273 $ 111,494.07 $1,637.22 $ 673.61 $963.61 $ 110,530.46
274 $ 110,530.46 $1,637.22 $ 667.79 $969.43 $ 109,561.03
275 $ 109,561.03 $1,637.22 $ 661.93 $975.29 $ 108,585.73
276 $ 108,585.73 $1,637.22 $ 656.04 $981.18 $ 107,604.55
277 $ 107,604.55 $1,637.22 $ 650.11 $987.11 $ 106,617.44
278 $ 106,617.44 $1,637.22 $ 644.15 $993.08 $ 105,624.36
279 $ 105,624.36 $1,637.22 $ 638.15 $999.08 $ 104,625.29
280 $ 104,625.29 $1,637.22 $ 632.11 $1,005.11 $ 103,620.17
281 $ 103,620.17 $1,637.22 $ 626.04 $1,011.18 $ 102,608.99
282 $ 102,608.99 $1,637.22 $ 619.93 $1,017.29 $ 101,591.70
283 $ 101,591.70 $1,637.22 $ 613.78 $1,023.44 $ 100,568.26
284 $ 100,568.26 $1,637.22 $ 607.60 $1,029.62 $ 99,538.63
285 $ 99,538.63 $1,637.22 $ 601.38 $1,035.84 $ 98,502.79
286 $ 98,502.79 $1,637.22 $ 595.12 $1,042.10 $ 97,460.69
287 $ 97,460.69 $1,637.22 $ 588.82 $1,048.40 $ 96,412.29
288 $ 96,412.29 $1,637.22 $ 582.49 $1,054.73 $ 95,357.56
289 $ 95,357.56 $1,637.22 $ 576.12 $1,061.10 $ 94,296.45
290 $ 94,296.45 $1,637.22 $ 569.71 $1,067.52 $ 93,228.94
291 $ 93,228.94 $1,637.22 $ 563.26 $1,073.96 $ 92,154.97
292 $ 92,154.97 $1,637.22 $ 556.77 $1,080.45 $ 91,074.52
293 $ 91,074.52 $1,637.22 $ 550.24 $1,086.98 $ 89,987.54
294 $ 89,987.54 $1,637.22 $ 543.67 $1,093.55 $ 88,893.99
295 $ 88,893.99 $1,637.22 $ 537.07 $1,100.16 $ 87,793.83
296 $ 87,793.83 $1,637.22 $ 530.42 $1,106.80 $ 86,687.03
297 $ 86,687.03 $1,637.22 $ 523.73 $1,113.49 $ 85,573.54
298 $ 85,573.54 $1,637.22 $ 517.01 $1,120.22 $ 84,453.33
299 $ 84,453.33 $1,637.22 $ 510.24 $1,126.98 $ 83,326.34
300 $ 83,326.34 $1,637.22 $ 503.43 $1,133.79 $ 82,192.55
301 $ 82,192.55 $1,637.22 $ 496.58 $1,140.64 $ 81,051.91
302 $ 81,051.91 $1,637.22 $ 489.69 $1,147.53 $ 79,904.37
303 $ 79,904.37 $1,637.22 $ 482.76 $1,154.47 $ 78,749.90
304 $ 78,749.90 $1,637.22 $ 475.78 $1,161.44 $ 77,588.46
305 $ 77,588.46 $1,637.22 $ 468.76 $1,168.46 $ 76,420.00
306 $ 76,420.00 $1,637.22 $ 461.70 $1,175.52 $ 75,244.48
307 $ 75,244.48 $1,637.22 $ 454.60 $1,182.62 $ 74,061.86
308 $ 74,061.86 $1,637.22 $ 447.46 $1,189.77 $ 72,872.10
309 $ 72,872.10 $1,637.22 $ 440.27 $1,196.95 $ 71,675.14
310 $ 71,675.14 $1,637.22 $ 433.04 $1,204.19 $ 70,470.96
311 $ 70,470.96 $1,637.22 $ 425.76 $1,211.46 $ 69,259.49
312 $ 69,259.49 $1,637.22 $ 418.44 $1,218.78 $ 68,040.71
313 $ 68,040.71 $1,637.22 $ 411.08 $1,226.14 $ 66,814.57
314 $ 66,814.57 $1,637.22 $ 403.67 $1,233.55 $ 65,581.02
315 $ 65,581.02 $1,637.22 $ 396.22 $1,241.00 $ 64,340.01
316 $ 64,340.01 $1,637.22 $ 388.72 $1,248.50 $ 63,091.51
317 $ 63,091.51 $1,637.22 $ 381.18 $1,256.05 $ 61,835.47
318 $ 61,835.47 $1,637.22 $ 373.59 $1,263.63 $ 60,571.83
319 $ 60,571.83 $1,637.22 $ 365.95 $1,271.27 $ 59,300.57
320 $ 59,300.57 $1,637.22 $ 358.27 $1,278.95 $ 58,021.62
321 $ 58,021.62 $1,637.22 $ 350.55 $1,286.68 $ 56,734.94
322 $ 56,734.94 $1,637.22 $ 342.77 $1,294.45 $ 55,440.49
323 $ 55,440.49 $1,637.22 $ 334.95 $1,302.27 $ 54,138.22
324 $ 54,138.22 $1,637.22 $ 327.09 $1,310.14 $ 52,828.08
325 $ 52,828.08 $1,637.22 $ 319.17 $1,318.05 $ 51,510.03
326 $ 51,510.03 $1,637.22 $ 311.21 $1,326.02 $ 50,184.01
327 $ 50,184.01 $1,637.22 $ 303.20 $1,334.03 $ 48,849.98
328 $ 48,849.98 $1,637.22 $ 295.14 $1,342.09 $ 47,507.90
329 $ 47,507.90 $1,637.22 $ 287.03 $1,350.20 $ 46,157.70
330 $ 46,157.70 $1,637.22 $ 278.87 $1,358.35 $ 44,799.35
331 $ 44,799.35 $1,637.22 $ 270.66 $1,366.56 $ 43,432.79
332 $ 43,432.79 $1,637.22 $ 262.41 $1,374.82 $ 42,057.97
333 $ 42,057.97 $1,637.22 $ 254.10 $1,383.12 $ 40,674.85
334 $ 40,674.85 $1,637.22 $ 245.74 $1,391.48 $ 39,283.37
335 $ 39,283.37 $1,637.22 $ 237.34 $1,399.89 $ 37,883.48
336 $ 37,883.48 $1,637.22 $ 228.88 $1,408.34 $ 36,475.14
337 $ 36,475.14 $1,637.22 $ 220.37 $1,416.85 $ 35,058.29
338 $ 35,058.29 $1,637.22 $ 211.81 $1,425.41 $ 33,632.87
339 $ 33,632.87 $1,637.22 $ 203.20 $1,434.02 $ 32,198.85
340 $ 32,198.85 $1,637.22 $ 194.53 $1,442.69 $ 30,756.16
341 $ 30,756.16 $1,637.22 $ 185.82 $1,451.40 $ 29,304.76
342 $ 29,304.76 $1,637.22 $ 177.05 $1,460.17 $ 27,844.58
343 $ 27,844.58 $1,637.22 $ 168.23 $1,469.00 $ 26,375.59
344 $ 26,375.59 $1,637.22 $ 159.35 $1,477.87 $ 24,897.72
345 $ 24,897.72 $1,637.22 $ 150.42 $1,486.80 $ 23,410.92
346 $ 23,410.92 $1,637.22 $ 141.44 $1,495.78 $ 21,915.14
347 $ 21,915.14 $1,637.22 $ 132.40 $1,504.82 $ 20,410.32
348 $ 20,410.32 $1,637.22 $ 123.31 $1,513.91 $ 18,896.41
349 $ 18,896.41 $1,637.22 $ 114.17 $1,523.06 $ 17,373.35
350 $ 17,373.35 $1,637.22 $ 104.96 $1,532.26 $ 15,841.09
351 $ 15,841.09 $1,637.22 $ 95.71 $1,541.52 $ 14,299.57
352 $ 14,299.57 $1,637.22 $ 86.39 $1,550.83 $ 12,748.74
353 $ 12,748.74 $1,637.22 $ 77.02 $1,560.20 $ 11,188.54
354 $ 11,188.54 $1,637.22 $ 67.60 $1,569.63 $ 9,618.92
355 $ 9,618.92 $1,637.22 $ 58.11 $1,579.11 $ 8,039.81
356 $ 8,039.81 $1,637.22 $ 48.57 $1,588.65 $ 6,451.16
357 $ 6,451.16 $1,637.22 $ 38.98 $1,598.25 $ 4,852.91
358 $ 4,852.91 $1,637.22 $ 29.32 $1,607.90 $ 3,245.01
359 $ 3,245.01 $1,637.22 $ 19.61 $1,617.62 $ 1,627.39
360 $ 1,627.39 $1,637.22 $ 9.83 $1,627.39 $ 0.00
$ 349,400.31 $240,000.00
Total interest paid
 $ 98,233.20 (1637.22 monthly pament X 60 months)

Total Interest Paid in first 5 years:

$ 84,742.45 (sum of interest in months 1-60)
86.27% Proportion paid in interest

$13,490.93 60 months principal total

$ 264,657.86
Monthly Mortgage Payment before Refinancing at 15 Years 6.25%

15 Year 6.25%
FV 0
PV -240000 ((300,000 - 20% Downpayment (60,000))
N 180 (15 years x 12 months)
I/Y 0.5208% (6.25% / 12 months)
PMT $2,057.81 Monthly mortgage payment

$2,057.81 - $1637.22 = $420.59

If they choose the 15 Year

6.25% plan, they would be
paying $420.59 more per month
Amount Borrowed 240000

Periods 180
Rate 0.005208333333
Payment $2,057.81
Months Beginning PMT Interest Principal Ending Balance
1 $ 240,000.00 $2,057.81 $ 1,250.00 $807.81 $ 239,192.19
2 $ 239,192.19 $2,057.81 $ 1,245.79 $812.02 $ 238,380.16
3 $ 238,380.16 $2,057.81 $ 1,241.56 $816.25 $ 237,563.91
4 $ 237,563.91 $2,057.81 $ 1,237.31 $820.50 $ 236,743.41
5 $ 236,743.41 $2,057.81 $ 1,233.04 $824.78 $ 235,918.63
6 $ 235,918.63 $2,057.81 $ 1,228.74 $829.07 $ 235,089.56
7 $ 235,089.56 $2,057.81 $ 1,224.42 $833.39 $ 234,256.17
8 $ 234,256.17 $2,057.81 $ 1,220.08 $837.73 $ 233,418.44
9 $ 233,418.44 $2,057.81 $ 1,215.72 $842.09 $ 232,576.35
10 $ 232,576.35 $2,057.81 $ 1,211.34 $846.48 $ 231,729.87
11 $ 231,729.87 $2,057.81 $ 1,206.93 $850.89 $ 230,878.98
12 $ 230,878.98 $2,057.81 $ 1,202.49 $855.32 $ 230,023.66
13 $ 230,023.66 $2,057.81 $ 1,198.04 $859.77 $ 229,163.88
14 $ 229,163.88 $2,057.81 $ 1,193.56 $864.25 $ 228,299.63
15 $ 228,299.63 $2,057.81 $ 1,189.06 $868.75 $ 227,430.87
16 $ 227,430.87 $2,057.81 $ 1,184.54 $873.28 $ 226,557.60
17 $ 226,557.60 $2,057.81 $ 1,179.99 $877.83 $ 225,679.77
18 $ 225,679.77 $2,057.81 $ 1,175.42 $882.40 $ 224,797.37
19 $ 224,797.37 $2,057.81 $ 1,170.82 $887.00 $ 223,910.37
20 $ 223,910.37 $2,057.81 $ 1,166.20 $891.62 $ 223,018.76
21 $ 223,018.76 $2,057.81 $ 1,161.56 $896.26 $ 222,122.50
22 $ 222,122.50 $2,057.81 $ 1,156.89 $900.93 $ 221,221.57
23 $ 221,221.57 $2,057.81 $ 1,152.20 $905.62 $ 220,315.95
24 $ 220,315.95 $2,057.81 $ 1,147.48 $910.34 $ 219,405.62
25 $ 219,405.62 $2,057.81 $ 1,142.74 $915.08 $ 218,490.54
26 $ 218,490.54 $2,057.81 $ 1,137.97 $919.84 $ 217,570.70
27 $ 217,570.70 $2,057.81 $ 1,133.18 $924.63 $ 216,646.06
28 $ 216,646.06 $2,057.81 $ 1,128.36 $929.45 $ 215,716.61
29 $ 215,716.61 $2,057.81 $ 1,123.52 $934.29 $ 214,782.32
30 $ 214,782.32 $2,057.81 $ 1,118.66 $939.16 $ 213,843.17
31 $ 213,843.17 $2,057.81 $ 1,113.77 $944.05 $ 212,899.12
32 $ 212,899.12 $2,057.81 $ 1,108.85 $948.97 $ 211,950.15
33 $ 211,950.15 $2,057.81 $ 1,103.91 $953.91 $ 210,996.24
34 $ 210,996.24 $2,057.81 $ 1,098.94 $958.88 $ 210,037.37
35 $ 210,037.37 $2,057.81 $ 1,093.94 $963.87 $ 209,073.50
36 $ 209,073.50 $2,057.81 $ 1,088.92 $968.89 $ 208,104.61
37 $ 208,104.61 $2,057.81 $ 1,083.88 $973.94 $ 207,130.67
38 $ 207,130.67 $2,057.81 $ 1,078.81 $979.01 $ 206,151.66
39 $ 206,151.66 $2,057.81 $ 1,073.71 $984.11 $ 205,167.55
40 $ 205,167.55 $2,057.81 $ 1,068.58 $989.23 $ 204,178.32
41 $ 204,178.32 $2,057.81 $ 1,063.43 $994.39 $ 203,183.93
42 $ 203,183.93 $2,057.81 $ 1,058.25 $999.57 $ 202,184.37
43 $ 202,184.37 $2,057.81 $ 1,053.04 $1,004.77 $ 201,179.60
44 $ 201,179.60 $2,057.81 $ 1,047.81 $1,010.00 $ 200,169.59
45 $ 200,169.59 $2,057.81 $ 1,042.55 $1,015.26 $ 199,154.33
46 $ 199,154.33 $2,057.81 $ 1,037.26 $1,020.55 $ 198,133.77
47 $ 198,133.77 $2,057.81 $ 1,031.95 $1,025.87 $ 197,107.91
48 $ 197,107.91 $2,057.81 $ 1,026.60 $1,031.21 $ 196,076.69
49 $ 196,076.69 $2,057.81 $ 1,021.23 $1,036.58 $ 195,040.11
50 $ 195,040.11 $2,057.81 $ 1,015.83 $1,041.98 $ 193,998.13
51 $ 193,998.13 $2,057.81 $ 1,010.41 $1,047.41 $ 192,950.72
52 $ 192,950.72 $2,057.81 $ 1,004.95 $1,052.86 $ 191,897.86
53 $ 191,897.86 $2,057.81 $ 999.47 $1,058.35 $ 190,839.51
54 $ 190,839.51 $2,057.81 $ 993.96 $1,063.86 $ 189,775.65
55 $ 189,775.65 $2,057.81 $ 988.41 $1,069.40 $ 188,706.25
56 $ 188,706.25 $2,057.81 $ 982.85 $1,074.97 $ 187,631.28
57 $ 187,631.28 $2,057.81 $ 977.25 $1,080.57 $ 186,550.72
58 $ 186,550.72 $2,057.81 $ 971.62 $1,086.20 $ 185,464.52
59 $ 185,464.52 $2,057.81 $ 965.96 $1,091.85 $ 184,372.67
60 $ 184,372.67 $2,057.81 $ 960.27 $1,097.54 $ 183,275.13
61 $ 183,275.13 $2,057.81 $ 954.56 $1,103.26 $ 182,171.87
62 $ 182,171.87 $2,057.81 $ 948.81 $1,109.00 $ 181,062.87
63 $ 181,062.87 $2,057.81 $ 943.04 $1,114.78 $ 179,948.09
64 $ 179,948.09 $2,057.81 $ 937.23 $1,120.59 $ 178,827.50
65 $ 178,827.50 $2,057.81 $ 931.39 $1,126.42 $ 177,701.08
66 $ 177,701.08 $2,057.81 $ 925.53 $1,132.29 $ 176,568.79
67 $ 176,568.79 $2,057.81 $ 919.63 $1,138.19 $ 175,430.60
68 $ 175,430.60 $2,057.81 $ 913.70 $1,144.11 $ 174,286.49
69 $ 174,286.49 $2,057.81 $ 907.74 $1,150.07 $ 173,136.42
70 $ 173,136.42 $2,057.81 $ 901.75 $1,156.06 $ 171,980.36
71 $ 171,980.36 $2,057.81 $ 895.73 $1,162.08 $ 170,818.27
72 $ 170,818.27 $2,057.81 $ 889.68 $1,168.14 $ 169,650.14
73 $ 169,650.14 $2,057.81 $ 883.59 $1,174.22 $ 168,475.91
74 $ 168,475.91 $2,057.81 $ 877.48 $1,180.34 $ 167,295.58
75 $ 167,295.58 $2,057.81 $ 871.33 $1,186.48 $ 166,109.10
76 $ 166,109.10 $2,057.81 $ 865.15 $1,192.66 $ 164,916.43
77 $ 164,916.43 $2,057.81 $ 858.94 $1,198.88 $ 163,717.56
78 $ 163,717.56 $2,057.81 $ 852.70 $1,205.12 $ 162,512.44
79 $ 162,512.44 $2,057.81 $ 846.42 $1,211.40 $ 161,301.04
80 $ 161,301.04 $2,057.81 $ 840.11 $1,217.71 $ 160,083.34
81 $ 160,083.34 $2,057.81 $ 833.77 $1,224.05 $ 158,859.29
82 $ 158,859.29 $2,057.81 $ 827.39 $1,230.42 $ 157,628.87
83 $ 157,628.87 $2,057.81 $ 820.98 $1,236.83 $ 156,392.03
84 $ 156,392.03 $2,057.81 $ 814.54 $1,243.27 $ 155,148.76
85 $ 155,148.76 $2,057.81 $ 808.07 $1,249.75 $ 153,899.01
86 $ 153,899.01 $2,057.81 $ 801.56 $1,256.26 $ 152,642.76
87 $ 152,642.76 $2,057.81 $ 795.01 $1,262.80 $ 151,379.96
88 $ 151,379.96 $2,057.81 $ 788.44 $1,269.38 $ 150,110.58
89 $ 150,110.58 $2,057.81 $ 781.83 $1,275.99 $ 148,834.59
90 $ 148,834.59 $2,057.81 $ 775.18 $1,282.63 $ 147,551.95
 91 $ 147,551.95 $2,057.81 $ 768.50 $1,289.32 $ 146,262.64
92 $ 146,262.64 $2,057.81 $ 761.78 $1,296.03 $ 144,966.61
93 $ 144,966.61 $2,057.81 $ 755.03 $1,302.78 $ 143,663.83
94 $ 143,663.83 $2,057.81 $ 748.25 $1,309.57 $ 142,354.26
95 $ 142,354.26 $2,057.81 $ 741.43 $1,316.39 $ 141,037.88
96 $ 141,037.88 $2,057.81 $ 734.57 $1,323.24 $ 139,714.63
97 $ 139,714.63 $2,057.81 $ 727.68 $1,330.13 $ 138,384.50
98 $ 138,384.50 $2,057.81 $ 720.75 $1,337.06 $ 137,047.44
99 $ 137,047.44 $2,057.81 $ 713.79 $1,344.03 $ 135,703.41
100 $ 135,703.41 $2,057.81 $ 706.79 $1,351.03 $ 134,352.38
101 $ 134,352.38 $2,057.81 $ 699.75 $1,358.06 $ 132,994.32
102 $ 132,994.32 $2,057.81 $ 692.68 $1,365.14 $ 131,629.18
103 $ 131,629.18 $2,057.81 $ 685.57 $1,372.25 $ 130,256.94
104 $ 130,256.94 $2,057.81 $ 678.42 $1,379.39 $ 128,877.55
105 $ 128,877.55 $2,057.81 $ 671.24 $1,386.58 $ 127,490.97
106 $ 127,490.97 $2,057.81 $ 664.02 $1,393.80 $ 126,097.17
107 $ 126,097.17 $2,057.81 $ 656.76 $1,401.06 $ 124,696.11
108 $ 124,696.11 $2,057.81 $ 649.46 $1,408.36 $ 123,287.75
109 $ 123,287.75 $2,057.81 $ 642.12 $1,415.69 $ 121,872.06
110 $ 121,872.06 $2,057.81 $ 634.75 $1,423.06 $ 120,449.00
111 $ 120,449.00 $2,057.81 $ 627.34 $1,430.48 $ 119,018.52
112 $ 119,018.52 $2,057.81 $ 619.89 $1,437.93 $ 117,580.59
113 $ 117,580.59 $2,057.81 $ 612.40 $1,445.42 $ 116,135.18
114 $ 116,135.18 $2,057.81 $ 604.87 $1,452.94 $ 114,682.23
115 $ 114,682.23 $2,057.81 $ 597.30 $1,460.51 $ 113,221.72
116 $ 113,221.72 $2,057.81 $ 589.70 $1,468.12 $ 111,753.60
117 $ 111,753.60 $2,057.81 $ 582.05 $1,475.76 $ 110,277.84
118 $ 110,277.84 $2,057.81 $ 574.36 $1,483.45 $ 108,794.39
119 $ 108,794.39 $2,057.81 $ 566.64 $1,491.18 $ 107,303.21
120 $ 107,303.21 $2,057.81 $ 558.87 $1,498.94 $ 105,804.27
121 $ 105,804.27 $2,057.81 $ 551.06 $1,506.75 $ 104,297.52
122 $ 104,297.52 $2,057.81 $ 543.22 $1,514.60 $ 102,782.92
123 $ 102,782.92 $2,057.81 $ 535.33 $1,522.49 $ 101,260.43
124 $ 101,260.43 $2,057.81 $ 527.40 $1,530.42 $ 99,730.01
125 $ 99,730.01 $2,057.81 $ 519.43 $1,538.39 $ 98,191.63
126 $ 98,191.63 $2,057.81 $ 511.41 $1,546.40 $ 96,645.23
127 $ 96,645.23 $2,057.81 $ 503.36 $1,554.45 $ 95,090.77
128 $ 95,090.77 $2,057.81 $ 495.26 $1,562.55 $ 93,528.22
129 $ 93,528.22 $2,057.81 $ 487.13 $1,570.69 $ 91,957.53
130 $ 91,957.53 $2,057.81 $ 478.95 $1,578.87 $ 90,378.66
131 $ 90,378.66 $2,057.81 $ 470.72 $1,587.09 $ 88,791.57
132 $ 88,791.57 $2,057.81 $ 462.46 $1,595.36 $ 87,196.21
133 $ 87,196.21 $2,057.81 $ 454.15 $1,603.67 $ 85,592.54
134 $ 85,592.54 $2,057.81 $ 445.79 $1,612.02 $ 83,980.52
135 $ 83,980.52 $2,057.81 $ 437.40 $1,620.42 $ 82,360.11
136 $ 82,360.11 $2,057.81 $ 428.96 $1,628.86 $ 80,731.25
137 $ 80,731.25 $2,057.81 $ 420.48 $1,637.34 $ 79,093.91
138 $ 79,093.91 $2,057.81 $ 411.95 $1,645.87 $ 77,448.04
139 $ 77,448.04 $2,057.81 $ 403.38 $1,654.44 $ 75,793.60
140 $ 75,793.60 $2,057.81 $ 394.76 $1,663.06 $ 74,130.55
141 $ 74,130.55 $2,057.81 $ 386.10 $1,671.72 $ 72,458.83
142 $ 72,458.83 $2,057.81 $ 377.39 $1,680.43 $ 70,778.40
143 $ 70,778.40 $2,057.81 $ 368.64 $1,689.18 $ 69,089.23
144 $ 69,089.23 $2,057.81 $ 359.84 $1,697.98 $ 67,391.25
145 $ 67,391.25 $2,057.81 $ 351.00 $1,706.82 $ 65,684.43
146 $ 65,684.43 $2,057.81 $ 342.11 $1,715.71 $ 63,968.72
147 $ 63,968.72 $2,057.81 $ 333.17 $1,724.64 $ 62,244.08
148 $ 62,244.08 $2,057.81 $ 324.19 $1,733.63 $ 60,510.45
149 $ 60,510.45 $2,057.81 $ 315.16 $1,742.66 $ 58,767.80
150 $ 58,767.80 $2,057.81 $ 306.08 $1,751.73 $ 57,016.06
151 $ 57,016.06 $2,057.81 $ 296.96 $1,760.86 $ 55,255.21
152 $ 55,255.21 $2,057.81 $ 287.79 $1,770.03 $ 53,485.18
153 $ 53,485.18 $2,057.81 $ 278.57 $1,779.25 $ 51,705.93
154 $ 51,705.93 $2,057.81 $ 269.30 $1,788.51 $ 49,917.42
155 $ 49,917.42 $2,057.81 $ 259.99 $1,797.83 $ 48,119.59
156 $ 48,119.59 $2,057.81 $ 250.62 $1,807.19 $ 46,312.40
157 $ 46,312.40 $2,057.81 $ 241.21 $1,816.60 $ 44,495.80
158 $ 44,495.80 $2,057.81 $ 231.75 $1,826.07 $ 42,669.73
159 $ 42,669.73 $2,057.81 $ 222.24 $1,835.58 $ 40,834.15
160 $ 40,834.15 $2,057.81 $ 212.68 $1,845.14 $ 38,989.02
161 $ 38,989.02 $2,057.81 $ 203.07 $1,854.75 $ 37,134.27
162 $ 37,134.27 $2,057.81 $ 193.41 $1,864.41 $ 35,269.86
163 $ 35,269.86 $2,057.81 $ 183.70 $1,874.12 $ 33,395.74
164 $ 33,395.74 $2,057.81 $ 173.94 $1,883.88 $ 31,511.87
165 $ 31,511.87 $2,057.81 $ 164.12 $1,893.69 $ 29,618.18
166 $ 29,618.18 $2,057.81 $ 154.26 $1,903.55 $ 27,714.62
167 $ 27,714.62 $2,057.81 $ 144.35 $1,913.47 $ 25,801.15
168 $ 25,801.15 $2,057.81 $ 134.38 $1,923.43 $ 23,877.72
169 $ 23,877.72 $2,057.81 $ 124.36 $1,933.45 $ 21,944.27
170 $ 21,944.27 $2,057.81 $ 114.29 $1,943.52 $ 20,000.75
171 $ 20,000.75 $2,057.81 $ 104.17 $1,953.64 $ 18,047.10
172 $ 18,047.10 $2,057.81 $ 94.00 $1,963.82 $ 16,083.28
173 $ 16,083.28 $2,057.81 $ 83.77 $1,974.05 $ 14,109.23
174 $ 14,109.23 $2,057.81 $ 73.49 $1,984.33 $ 12,124.91
175 $ 12,124.91 $2,057.81 $ 63.15 $1,994.66 $ 10,130.24
176 $ 10,130.24 $2,057.81 $ 52.76 $2,005.05 $ 8,125.19
177 $ 8,125.19 $2,057.81 $ 42.32 $2,015.50 $ 6,109.69
178 $ 6,109.69 $2,057.81 $ 31.82 $2,025.99 $ 4,083.70
179 $ 4,083.70 $2,057.81 $ 21.27 $2,036.55 $ 2,047.15
180 $ 2,047.15 $2,057.81 $ 10.66 $2,047.15 $ 0.00
$ 130,406.68 $240,000.00
With the 15 Year 6.25% Loan, a total of $130,406.68 in interest would
be paid. In comparison, a total of $349,400.31 in interest would be
paid in the end if the couple had choose the 30 Year 7.25% loan.

The total difference is 390,400.31 - 130,406.68 = $218,993.63

$ 66,744.02
$56,724.87
Under the 15 year 6.25% Mortgage: Under 30 Year 7.25% Mortgag
Couple would have paid: $ 123,468.89 Couple would have paid:
Proportion
Interest Total $ 66,744.02 54.06%
Princiapal Total $56,724.87 45.94%

Difference in Tax Deductions (Assuming Tax Rate is 30%) 30 Year 15 Year

Interest over 5 years $ 84,742.45 $ 66,744.02

Tax Rate 30% 30%
Tax deductions $ 25,422.74 $ 20,023.21

They would have lost $5399.5

er 30 Year 7.25% Mortgage
ple would have paid: $ 98,233.38
Proportion
Interest Total $ 84,742.45 86.27%
Principal Total $ 13,490.93 13.73%

Difference

$ 17,998.43

$ 5,399.53

y would have lost $5399.53 in tax deductions if they went with the 15 Year Mortgage
Current Value $ 355,000.00

- Loan Balance $ 226,509.07 (Balance of the Loan today)

= Equity $ 128,490.93

Refinancing Amount $ 319,500.00 (355,000 X 90%)

Excess Value = Equity - (current value-refinancing amount)

Excess Value = $ 92,990.93

The Sommers can cash out $92,990.93 in extra value.

 Refinancing Rate 2.75%
Tax 30%
Refinancing rate after tax 1.9250%

Money markets rate 2.15%

Tax 30%
Market rate after tax 1.5050%

Jacqueline and Keith should not cash out on

the excess equity they have built up
because the cost to refinance after tax
(1.925%) is greater than the money market
rate after tax (1.505%). They should not
cash out unless they find a risk-free
investment that yeilds more than 1.9250%
after tax.
 Original Mortgage Payment X (13/12) (increase of 1/12 + 12 months of payment)

$ 1,637.22 X (13/12) $ 1,773.66

Interest Rate 0.00604167

Current loan balance at 60 months would be: $ 216,678.04

Months Beginning Pmt Interest Principal End Balance

1 $ 240,000.00 $ 1,773.66 $ 1,450.00 $ 323.66 $ 239,676.35
2 $ 239,676.35 $ 1,773.66 $ 1,448.04 $ 325.61 $ 239,350.73
3 $ 239,350.73 $ 1,773.66 $ 1,446.08 $ 327.58 $ 239,023.16
4 $ 239,023.16 $ 1,773.66 $ 1,444.10 $ 329.56 $ 238,693.60
5 $ 238,693.60 $ 1,773.66 $ 1,442.11 $ 331.55 $ 238,362.05
6 $ 238,362.05 $ 1,773.66 $ 1,440.10 $ 333.55 $ 238,028.50
7 $ 238,028.50 $ 1,773.66 $ 1,438.09 $ 335.57 $ 237,692.94
8 $ 237,692.94 $ 1,773.66 $ 1,436.06 $ 337.59 $ 237,355.34
9 $ 237,355.34 $ 1,773.66 $ 1,434.02 $ 339.63 $ 237,015.71
10 $ 237,015.71 $ 1,773.66 $ 1,431.97 $ 341.69 $ 236,674.02
11 $ 236,674.02 $ 1,773.66 $ 1,429.91 $ 343.75 $ 236,330.27
12 $ 236,330.27 $ 1,773.66 $ 1,427.83 $ 345.83 $ 235,984.45
13 $ 235,984.45 $ 1,773.66 $ 1,425.74 $ 347.92 $ 235,636.53
14 $ 235,636.53 $ 1,773.66 $ 1,423.64 $ 350.02 $ 235,286.51
15 $ 235,286.51 $ 1,773.66 $ 1,421.52 $ 352.13 $ 234,934.38
16 $ 234,934.38 $ 1,773.66 $ 1,419.40 $ 354.26 $ 234,580.12
17 $ 234,580.12 $ 1,773.66 $ 1,417.25 $ 356.40 $ 234,223.72
18 $ 234,223.72 $ 1,773.66 $ 1,415.10 $ 358.55 $ 233,865.17
19 $ 233,865.17 $ 1,773.66 $ 1,412.94 $ 360.72 $ 233,504.45
20 $ 233,504.45 $ 1,773.66 $ 1,410.76 $ 362.90 $ 233,141.55
21 $ 233,141.55 $ 1,773.66 $ 1,408.56 $ 365.09 $ 232,776.46
22 $ 232,776.46 $ 1,773.66 $ 1,406.36 $ 367.30 $ 232,409.16
23 $ 232,409.16 $ 1,773.66 $ 1,404.14 $ 369.52 $ 232,039.65
24 $ 232,039.65 $ 1,773.66 $ 1,401.91 $ 371.75 $ 231,667.90
25 $ 231,667.90 $ 1,773.66 $ 1,399.66 $ 373.99 $ 231,293.90
26 $ 231,293.90 $ 1,773.66 $ 1,397.40 $ 376.25 $ 230,917.65
27 $ 230,917.65 $ 1,773.66 $ 1,395.13 $ 378.53 $ 230,539.12
28 $ 230,539.12 $ 1,773.66 $ 1,392.84 $ 380.81 $ 230,158.31
29 $ 230,158.31 $ 1,773.66 $ 1,390.54 $ 383.12 $ 229,775.19
30 $ 229,775.19 $ 1,773.66 $ 1,388.23 $ 385.43 $ 229,389.76
31 $ 229,389.76 $ 1,773.66 $ 1,385.90 $ 387.76 $ 229,002.00
32 $ 229,002.00 $ 1,773.66 $ 1,383.55 $ 390.10 $ 228,611.90
33 $ 228,611.90 $ 1,773.66 $ 1,381.20 $ 392.46 $ 228,219.44
34 $ 228,219.44 $ 1,773.66 $ 1,378.83 $ 394.83 $ 227,824.61
35 $ 227,824.61 $ 1,773.66 $ 1,376.44 $ 397.21 $ 227,427.40
36 $ 227,427.40 $ 1,773.66 $ 1,374.04 $ 399.61 $ 227,027.78
37 $ 227,027.78 $ 1,773.66 $ 1,371.63 $ 402.03 $ 226,625.76
38 $ 226,625.76 $ 1,773.66 $ 1,369.20 $ 404.46 $ 226,221.30
39 $ 226,221.30 $ 1,773.66 $ 1,366.75 $ 406.90 $ 225,814.40
40 $ 225,814.40 $ 1,773.66 $ 1,364.30 $ 409.36 $ 225,405.04
41 $ 225,405.04 $ 1,773.66 $ 1,361.82 $ 411.83 $ 224,993.20
42 $ 224,993.20 $ 1,773.66 $ 1,359.33 $ 414.32 $ 224,578.88
43 $ 224,578.88 $ 1,773.66 $ 1,356.83 $ 416.82 $ 224,162.06
44 $ 224,162.06 $ 1,773.66 $ 1,354.31 $ 419.34 $ 223,742.72
45 $ 223,742.72 $ 1,773.66 $ 1,351.78 $ 421.88 $ 223,320.84
46 $ 223,320.84 $ 1,773.66 $ 1,349.23 $ 424.42 $ 222,896.41
47 $ 222,896.41 $ 1,773.66 $ 1,346.67 $ 426.99 $ 222,469.43
48 $ 222,469.43 $ 1,773.66 $ 1,344.09 $ 429.57 $ 222,039.86
49 $ 222,039.86 $ 1,773.66 $ 1,341.49 $ 432.16 $ 221,607.69
50 $ 221,607.69 $ 1,773.66 $ 1,338.88 $ 434.78 $ 221,172.92
51 $ 221,172.92 $ 1,773.66 $ 1,336.25 $ 437.40 $ 220,735.52
52 $ 220,735.52 $ 1,773.66 $ 1,333.61 $ 440.04 $ 220,295.47
53 $ 220,295.47 $ 1,773.66 $ 1,330.95 $ 442.70 $ 219,852.77
54 $ 219,852.77 $ 1,773.66 $ 1,328.28 $ 445.38 $ 219,407.39
55 $ 219,407.39 $ 1,773.66 $ 1,325.59 $ 448.07 $ 218,959.32
56 $ 218,959.32 $ 1,773.66 $ 1,322.88 $ 450.78 $ 218,508.55
57 $ 218,508.55 $ 1,773.66 $ 1,320.16 $ 453.50 $ 218,055.05
58 $ 218,055.05 $ 1,773.66 $ 1,317.42 $ 456.24 $ 217,598.81
59 $ 217,598.81 $ 1,773.66 $ 1,314.66 $ 459.00 $ 217,139.81
60 $ 217,139.81 $ 1,773.66 $ 1,311.89 $ 461.77 $ 216,678.04
Payment $ 1,773.66 Would take 23 Years and 7 months to pay of loan
Interest rate 0.00604166667 with the increased payment

Month Beginning pmt Interest Principal End Balance

1 $ 240,000.00 $ 1,773.66 $ 1,450.00 $ 323.66 $ 239,676.34
2 $ 239,676.34 $ 1,773.66 $ 1,448.04 $ 325.62 $ 239,350.72
3 $ 239,350.72 $ 1,773.66 $ 1,446.08 $ 327.58 $ 239,023.14
4 $ 239,023.14 $ 1,773.66 $ 1,444.10 $ 329.56 $ 238,693.58
5 $ 238,693.58 $ 1,773.66 $ 1,442.11 $ 331.55 $ 238,362.03
6 $ 238,362.03 $ 1,773.66 $ 1,440.10 $ 333.56 $ 238,028.47
7 $ 238,028.47 $ 1,773.66 $ 1,438.09 $ 335.57 $ 237,692.90
8 $ 237,692.90 $ 1,773.66 $ 1,436.06 $ 337.60 $ 237,355.30
9 $ 237,355.30 $ 1,773.66 $ 1,434.02 $ 339.64 $ 237,015.66
10 $ 237,015.66 $ 1,773.66 $ 1,431.97 $ 341.69 $ 236,673.97
11 $ 236,673.97 $ 1,773.66 $ 1,429.91 $ 343.75 $ 236,330.22
12 $ 236,330.22 $ 1,773.66 $ 1,427.83 $ 345.83 $ 235,984.39
13 $ 235,984.39 $ 1,773.66 $ 1,425.74 $ 347.92 $ 235,636.46
14 $ 235,636.46 $ 1,773.66 $ 1,423.64 $ 350.02 $ 235,286.44
15 $ 235,286.44 $ 1,773.66 $ 1,421.52 $ 352.14 $ 234,934.30
16 $ 234,934.30 $ 1,773.66 $ 1,419.39 $ 354.27 $ 234,580.04
17 $ 234,580.04 $ 1,773.66 $ 1,417.25 $ 356.41 $ 234,223.63
18 $ 234,223.63 $ 1,773.66 $ 1,415.10 $ 358.56 $ 233,865.07
19 $ 233,865.07 $ 1,773.66 $ 1,412.93 $ 360.73 $ 233,504.35
20 $ 233,504.35 $ 1,773.66 $ 1,410.76 $ 362.90 $ 233,141.44
21 $ 233,141.44 $ 1,773.66 $ 1,408.56 $ 365.10 $ 232,776.35
22 $ 232,776.35 $ 1,773.66 $ 1,406.36 $ 367.30 $ 232,409.04
23 $ 232,409.04 $ 1,773.66 $ 1,404.14 $ 369.52 $ 232,039.52
24 $ 232,039.52 $ 1,773.66 $ 1,401.91 $ 371.75 $ 231,667.77
25 $ 231,667.77 $ 1,773.66 $ 1,399.66 $ 374.00 $ 231,293.77
26 $ 231,293.77 $ 1,773.66 $ 1,397.40 $ 376.26 $ 230,917.51
27 $ 230,917.51 $ 1,773.66 $ 1,395.13 $ 378.53 $ 230,538.97
28 $ 230,538.97 $ 1,773.66 $ 1,392.84 $ 380.82 $ 230,158.15
29 $ 230,158.15 $ 1,773.66 $ 1,390.54 $ 383.12 $ 229,775.03
30 $ 229,775.03 $ 1,773.66 $ 1,388.22 $ 385.44 $ 229,389.60
31 $ 229,389.60 $ 1,773.66 $ 1,385.90 $ 387.76 $ 229,001.83
32 $ 229,001.83 $ 1,773.66 $ 1,383.55 $ 390.11 $ 228,611.72
33 $ 228,611.72 $ 1,773.66 $ 1,381.20 $ 392.46 $ 228,219.26
34 $ 228,219.26 $ 1,773.66 $ 1,378.82 $ 394.84 $ 227,824.43
35 $ 227,824.43 $ 1,773.66 $ 1,376.44 $ 397.22 $ 227,427.20
36 $ 227,427.20 $ 1,773.66 $ 1,374.04 $ 399.62 $ 227,027.58
37 $ 227,027.58 $ 1,773.66 $ 1,371.62 $ 402.04 $ 226,625.55
38 $ 226,625.55 $ 1,773.66 $ 1,369.20 $ 404.46 $ 226,221.08
39 $ 226,221.08 $ 1,773.66 $ 1,366.75 $ 406.91 $ 225,814.18
40 $ 225,814.18 $ 1,773.66 $ 1,364.29 $ 409.37 $ 225,404.81
41 $ 225,404.81 $ 1,773.66 $ 1,361.82 $ 411.84 $ 224,992.97
42 $ 224,992.97 $ 1,773.66 $ 1,359.33 $ 414.33 $ 224,578.64
43 $ 224,578.64 $ 1,773.66 $ 1,356.83 $ 416.83 $ 224,161.81
44 $ 224,161.81 $ 1,773.66 $ 1,354.31 $ 419.35 $ 223,742.46
45 $ 223,742.46 $ 1,773.66 $ 1,351.78 $ 421.88 $ 223,320.58
46 $ 223,320.58 $ 1,773.66 $ 1,349.23 $ 424.43 $ 222,896.15
47 $ 222,896.15 $ 1,773.66 $ 1,346.66 $ 427.00 $ 222,469.15
48 $ 222,469.15 $ 1,773.66 $ 1,344.08 $ 429.58 $ 222,039.58
49 $ 222,039.58 $ 1,773.66 $ 1,341.49 $ 432.17 $ 221,607.41
50 $ 221,607.41 $ 1,773.66 $ 1,338.88 $ 434.78 $ 221,172.63
51 $ 221,172.63 $ 1,773.66 $ 1,336.25 $ 437.41 $ 220,735.22
52 $ 220,735.22 $ 1,773.66 $ 1,333.61 $ 440.05 $ 220,295.17
53 $ 220,295.17 $ 1,773.66 $ 1,330.95 $ 442.71 $ 219,852.46
54 $ 219,852.46 $ 1,773.66 $ 1,328.28 $ 445.38 $ 219,407.07
55 $ 219,407.07 $ 1,773.66 $ 1,325.58 $ 448.08 $ 218,959.00
56 $ 218,959.00 $ 1,773.66 $ 1,322.88 $ 450.78 $ 218,508.21
57 $ 218,508.21 $ 1,773.66 $ 1,320.15 $ 453.51 $ 218,054.71
58 $ 218,054.71 $ 1,773.66 $ 1,317.41 $ 456.25 $ 217,598.46
59 $ 217,598.46 $ 1,773.66 $ 1,314.66 $ 459.00 $ 217,139.46
60 $ 217,139.46 $ 1,773.66 $ 1,311.88 $ 461.78 $ 216,677.68
61 $ 216,677.68 $ 1,773.66 $ 1,309.09 $ 464.57 $ 216,213.12
62 $ 216,213.12 $ 1,773.66 $ 1,306.29 $ 467.37 $ 215,745.74
63 $ 215,745.74 $ 1,773.66 $ 1,303.46 $ 470.20 $ 215,275.55
64 $ 215,275.55 $ 1,773.66 $ 1,300.62 $ 473.04 $ 214,802.51
65 $ 214,802.51 $ 1,773.66 $ 1,297.77 $ 475.89 $ 214,326.62
66 $ 214,326.62 $ 1,773.66 $ 1,294.89 $ 478.77 $ 213,847.85
67 $ 213,847.85 $ 1,773.66 $ 1,292.00 $ 481.66 $ 213,366.18
68 $ 213,366.18 $ 1,773.66 $ 1,289.09 $ 484.57 $ 212,881.61
69 $ 212,881.61 $ 1,773.66 $ 1,286.16 $ 487.50 $ 212,394.11
70 $ 212,394.11 $ 1,773.66 $ 1,283.21 $ 490.45 $ 211,903.67
71 $ 211,903.67 $ 1,773.66 $ 1,280.25 $ 493.41 $ 211,410.26
72 $ 211,410.26 $ 1,773.66 $ 1,277.27 $ 496.39 $ 210,913.87
73 $ 210,913.87 $ 1,773.66 $ 1,274.27 $ 499.39 $ 210,414.48
74 $ 210,414.48 $ 1,773.66 $ 1,271.25 $ 502.41 $ 209,912.07
75 $ 209,912.07 $ 1,773.66 $ 1,268.22 $ 505.44 $ 209,406.63
76 $ 209,406.63 $ 1,773.66 $ 1,265.17 $ 508.49 $ 208,898.14
77 $ 208,898.14 $ 1,773.66 $ 1,262.09 $ 511.57 $ 208,386.57
78 $ 208,386.57 $ 1,773.66 $ 1,259.00 $ 514.66 $ 207,871.91
79 $ 207,871.91 $ 1,773.66 $ 1,255.89 $ 517.77 $ 207,354.14
80 $ 207,354.14 $ 1,773.66 $ 1,252.76 $ 520.90 $ 206,833.25
81 $ 206,833.25 $ 1,773.66 $ 1,249.62 $ 524.04 $ 206,309.21
82 $ 206,309.21 $ 1,773.66 $ 1,246.45 $ 527.21 $ 205,782.00
83 $ 205,782.00 $ 1,773.66 $ 1,243.27 $ 530.39 $ 205,251.60
84 $ 205,251.60 $ 1,773.66 $ 1,240.06 $ 533.60 $ 204,718.01
85 $ 204,718.01 $ 1,773.66 $ 1,236.84 $ 536.82 $ 204,181.18
86 $ 204,181.18 $ 1,773.66 $ 1,233.59 $ 540.07 $ 203,641.12
87 $ 203,641.12 $ 1,773.66 $ 1,230.33 $ 543.33 $ 203,097.79
88 $ 203,097.79 $ 1,773.66 $ 1,227.05 $ 546.61 $ 202,551.18
89 $ 202,551.18 $ 1,773.66 $ 1,223.75 $ 549.91 $ 202,001.27
90 $ 202,001.27 $ 1,773.66 $ 1,220.42 $ 553.24 $ 201,448.03
91 $ 201,448.03 $ 1,773.66 $ 1,217.08 $ 556.58 $ 200,891.45
 92 $ 200,891.45 $ 1,773.66 $ 1,213.72 $ 559.94 $ 200,331.51
93 $ 200,331.51 $ 1,773.66 $ 1,210.34 $ 563.32 $ 199,768.19
94 $ 199,768.19 $ 1,773.66 $ 1,206.93 $ 566.73 $ 199,201.46
95 $ 199,201.46 $ 1,773.66 $ 1,203.51 $ 570.15 $ 198,631.31
96 $ 198,631.31 $ 1,773.66 $ 1,200.06 $ 573.60 $ 198,057.71
97 $ 198,057.71 $ 1,773.66 $ 1,196.60 $ 577.06 $ 197,480.65
98 $ 197,480.65 $ 1,773.66 $ 1,193.11 $ 580.55 $ 196,900.10
99 $ 196,900.10 $ 1,773.66 $ 1,189.60 $ 584.06 $ 196,316.05
100 $ 196,316.05 $ 1,773.66 $ 1,186.08 $ 587.58 $ 195,728.47
101 $ 195,728.47 $ 1,773.66 $ 1,182.53 $ 591.13 $ 195,137.33
102 $ 195,137.33 $ 1,773.66 $ 1,178.95 $ 594.71 $ 194,542.63
103 $ 194,542.63 $ 1,773.66 $ 1,175.36 $ 598.30 $ 193,944.33
104 $ 193,944.33 $ 1,773.66 $ 1,171.75 $ 601.91 $ 193,342.42
105 $ 193,342.42 $ 1,773.66 $ 1,168.11 $ 605.55 $ 192,736.87
106 $ 192,736.87 $ 1,773.66 $ 1,164.45 $ 609.21 $ 192,127.66
107 $ 192,127.66 $ 1,773.66 $ 1,160.77 $ 612.89 $ 191,514.77
108 $ 191,514.77 $ 1,773.66 $ 1,157.07 $ 616.59 $ 190,898.18
109 $ 190,898.18 $ 1,773.66 $ 1,153.34 $ 620.32 $ 190,277.86
110 $ 190,277.86 $ 1,773.66 $ 1,149.60 $ 624.06 $ 189,653.80
111 $ 189,653.80 $ 1,773.66 $ 1,145.83 $ 627.83 $ 189,025.96
112 $ 189,025.96 $ 1,773.66 $ 1,142.03 $ 631.63 $ 188,394.33
113 $ 188,394.33 $ 1,773.66 $ 1,138.22 $ 635.44 $ 187,758.89
114 $ 187,758.89 $ 1,773.66 $ 1,134.38 $ 639.28 $ 187,119.60
115 $ 187,119.60 $ 1,773.66 $ 1,130.51 $ 643.15 $ 186,476.46
116 $ 186,476.46 $ 1,773.66 $ 1,126.63 $ 647.03 $ 185,829.43
117 $ 185,829.43 $ 1,773.66 $ 1,122.72 $ 650.94 $ 185,178.49
118 $ 185,178.49 $ 1,773.66 $ 1,118.79 $ 654.87 $ 184,523.61
119 $ 184,523.61 $ 1,773.66 $ 1,114.83 $ 658.83 $ 183,864.78
120 $ 183,864.78 $ 1,773.66 $ 1,110.85 $ 662.81 $ 183,201.97
121 $ 183,201.97 $ 1,773.66 $ 1,106.85 $ 666.81 $ 182,535.16
122 $ 182,535.16 $ 1,773.66 $ 1,102.82 $ 670.84 $ 181,864.32
123 $ 181,864.32 $ 1,773.66 $ 1,098.76 $ 674.90 $ 181,189.42
124 $ 181,189.42 $ 1,773.66 $ 1,094.69 $ 678.97 $ 180,510.45
125 $ 180,510.45 $ 1,773.66 $ 1,090.58 $ 683.08 $ 179,827.37
126 $ 179,827.37 $ 1,773.66 $ 1,086.46 $ 687.20 $ 179,140.17
127 $ 179,140.17 $ 1,773.66 $ 1,082.31 $ 691.35 $ 178,448.81
128 $ 178,448.81 $ 1,773.66 $ 1,078.13 $ 695.53 $ 177,753.28
129 $ 177,753.28 $ 1,773.66 $ 1,073.93 $ 699.73 $ 177,053.55
130 $ 177,053.55 $ 1,773.66 $ 1,069.70 $ 703.96 $ 176,349.58
131 $ 176,349.58 $ 1,773.66 $ 1,065.45 $ 708.21 $ 175,641.37
132 $ 175,641.37 $ 1,773.66 $ 1,061.17 $ 712.49 $ 174,928.88
133 $ 174,928.88 $ 1,773.66 $ 1,056.86 $ 716.80 $ 174,212.08
134 $ 174,212.08 $ 1,773.66 $ 1,052.53 $ 721.13 $ 173,490.95
135 $ 173,490.95 $ 1,773.66 $ 1,048.17 $ 725.49 $ 172,765.46
136 $ 172,765.46 $ 1,773.66 $ 1,043.79 $ 729.87 $ 172,035.60
137 $ 172,035.60 $ 1,773.66 $ 1,039.38 $ 734.28 $ 171,301.32
138 $ 171,301.32 $ 1,773.66 $ 1,034.95 $ 738.71 $ 170,562.60
139 $ 170,562.60 $ 1,773.66 $ 1,030.48 $ 743.18 $ 169,819.42
140 $ 169,819.42 $ 1,773.66 $ 1,025.99 $ 747.67 $ 169,071.76
141 $ 169,071.76 $ 1,773.66 $ 1,021.48 $ 752.18 $ 168,319.57
142 $ 168,319.57 $ 1,773.66 $ 1,016.93 $ 756.73 $ 167,562.84
143 $ 167,562.84 $ 1,773.66 $ 1,012.36 $ 761.30 $ 166,801.54
144 $ 166,801.54 $ 1,773.66 $ 1,007.76 $ 765.90 $ 166,035.64
145 $ 166,035.64 $ 1,773.66 $ 1,003.13 $ 770.53 $ 165,265.11
146 $ 165,265.11 $ 1,773.66 $ 998.48 $ 775.18 $ 164,489.93
147 $ 164,489.93 $ 1,773.66 $ 993.79 $ 779.87 $ 163,710.06
148 $ 163,710.06 $ 1,773.66 $ 989.08 $ 784.58 $ 162,925.48
149 $ 162,925.48 $ 1,773.66 $ 984.34 $ 789.32 $ 162,136.17
150 $ 162,136.17 $ 1,773.66 $ 979.57 $ 794.09 $ 161,342.08
151 $ 161,342.08 $ 1,773.66 $ 974.78 $ 798.88 $ 160,543.19
152 $ 160,543.19 $ 1,773.66 $ 969.95 $ 803.71 $ 159,739.48
153 $ 159,739.48 $ 1,773.66 $ 965.09 $ 808.57 $ 158,930.92
154 $ 158,930.92 $ 1,773.66 $ 960.21 $ 813.45 $ 158,117.46
155 $ 158,117.46 $ 1,773.66 $ 955.29 $ 818.37 $ 157,299.10
156 $ 157,299.10 $ 1,773.66 $ 950.35 $ 823.31 $ 156,475.78
157 $ 156,475.78 $ 1,773.66 $ 945.37 $ 828.29 $ 155,647.50
158 $ 155,647.50 $ 1,773.66 $ 940.37 $ 833.29 $ 154,814.21
159 $ 154,814.21 $ 1,773.66 $ 935.34 $ 838.32 $ 153,975.89
160 $ 153,975.89 $ 1,773.66 $ 930.27 $ 843.39 $ 153,132.50
161 $ 153,132.50 $ 1,773.66 $ 925.18 $ 848.48 $ 152,284.01
162 $ 152,284.01 $ 1,773.66 $ 920.05 $ 853.61 $ 151,430.40
163 $ 151,430.40 $ 1,773.66 $ 914.89 $ 858.77 $ 150,571.63
164 $ 150,571.63 $ 1,773.66 $ 909.70 $ 863.96 $ 149,707.68
165 $ 149,707.68 $ 1,773.66 $ 904.48 $ 869.18 $ 148,838.50
166 $ 148,838.50 $ 1,773.66 $ 899.23 $ 874.43 $ 147,964.07
167 $ 147,964.07 $ 1,773.66 $ 893.95 $ 879.71 $ 147,084.36
168 $ 147,084.36 $ 1,773.66 $ 888.63 $ 885.03 $ 146,199.34
169 $ 146,199.34 $ 1,773.66 $ 883.29 $ 890.37 $ 145,308.97
170 $ 145,308.97 $ 1,773.66 $ 877.91 $ 895.75 $ 144,413.21
171 $ 144,413.21 $ 1,773.66 $ 872.50 $ 901.16 $ 143,512.05
172 $ 143,512.05 $ 1,773.66 $ 867.05 $ 906.61 $ 142,605.44
173 $ 142,605.44 $ 1,773.66 $ 861.57 $ 912.09 $ 141,693.36
174 $ 141,693.36 $ 1,773.66 $ 856.06 $ 917.60 $ 140,775.76
175 $ 140,775.76 $ 1,773.66 $ 850.52 $ 923.14 $ 139,852.62
176 $ 139,852.62 $ 1,773.66 $ 844.94 $ 928.72 $ 138,923.90
177 $ 138,923.90 $ 1,773.66 $ 839.33 $ 934.33 $ 137,989.58
178 $ 137,989.58 $ 1,773.66 $ 833.69 $ 939.97 $ 137,049.60
179 $ 137,049.60 $ 1,773.66 $ 828.01 $ 945.65 $ 136,103.95
180 $ 136,103.95 $ 1,773.66 $ 822.29 $ 951.37 $ 135,152.59
181 $ 135,152.59 $ 1,773.66 $ 816.55 $ 957.11 $ 134,195.47
182 $ 134,195.47 $ 1,773.66 $ 810.76 $ 962.90 $ 133,232.58
183 $ 133,232.58 $ 1,773.66 $ 804.95 $ 968.71 $ 132,263.86
184 $ 132,263.86 $ 1,773.66 $ 799.09 $ 974.57 $ 131,289.30
185 $ 131,289.30 $ 1,773.66 $ 793.21 $ 980.45 $ 130,308.84
186 $ 130,308.84 $ 1,773.66 $ 787.28 $ 986.38 $ 129,322.47
187 $ 129,322.47 $ 1,773.66 $ 781.32 $ 992.34 $ 128,330.13
188 $ 128,330.13 $ 1,773.66 $ 775.33 $ 998.33 $ 127,331.80
189 $ 127,331.80 $ 1,773.66 $ 769.30 $ 1,004.36 $ 126,327.43
190 $ 126,327.43 $ 1,773.66 $ 763.23 $ 1,010.43 $ 125,317.00
191 $ 125,317.00 $ 1,773.66 $ 757.12 $ 1,016.54 $ 124,300.47
192 $ 124,300.47 $ 1,773.66 $ 750.98 $ 1,022.68 $ 123,277.79
193 $ 123,277.79 $ 1,773.66 $ 744.80 $ 1,028.86 $ 122,248.93
194 $ 122,248.93 $ 1,773.66 $ 738.59 $ 1,035.07 $ 121,213.86
195 $ 121,213.86 $ 1,773.66 $ 732.33 $ 1,041.33 $ 120,172.53
196 $ 120,172.53 $ 1,773.66 $ 726.04 $ 1,047.62 $ 119,124.91
197 $ 119,124.91 $ 1,773.66 $ 719.71 $ 1,053.95 $ 118,070.97
198 $ 118,070.97 $ 1,773.66 $ 713.35 $ 1,060.31 $ 117,010.65
199 $ 117,010.65 $ 1,773.66 $ 706.94 $ 1,066.72 $ 115,943.93
200 $ 115,943.93 $ 1,773.66 $ 700.49 $ 1,073.17 $ 114,870.77
201 $ 114,870.77 $ 1,773.66 $ 694.01 $ 1,079.65 $ 113,791.12
202 $ 113,791.12 $ 1,773.66 $ 687.49 $ 1,086.17 $ 112,704.95
203 $ 112,704.95 $ 1,773.66 $ 680.93 $ 1,092.73 $ 111,612.21
204 $ 111,612.21 $ 1,773.66 $ 674.32 $ 1,099.34 $ 110,512.87
205 $ 110,512.87 $ 1,773.66 $ 667.68 $ 1,105.98 $ 109,406.90
206 $ 109,406.90 $ 1,773.66 $ 661.00 $ 1,112.66 $ 108,294.24
207 $ 108,294.24 $ 1,773.66 $ 654.28 $ 1,119.38 $ 107,174.85
208 $ 107,174.85 $ 1,773.66 $ 647.51 $ 1,126.15 $ 106,048.71
209 $ 106,048.71 $ 1,773.66 $ 640.71 $ 1,132.95 $ 104,915.76
210 $ 104,915.76 $ 1,773.66 $ 633.87 $ 1,139.79 $ 103,775.97
211 $ 103,775.97 $ 1,773.66 $ 626.98 $ 1,146.68 $ 102,629.29
212 $ 102,629.29 $ 1,773.66 $ 620.05 $ 1,153.61 $ 101,475.68
213 $ 101,475.68 $ 1,773.66 $ 613.08 $ 1,160.58 $ 100,315.10
214 $ 100,315.10 $ 1,773.66 $ 606.07 $ 1,167.59 $ 99,147.51
215 $ 99,147.51 $ 1,773.66 $ 599.02 $ 1,174.64 $ 97,972.87
216 $ 97,972.87 $ 1,773.66 $ 591.92 $ 1,181.74 $ 96,791.13
217 $ 96,791.13 $ 1,773.66 $ 584.78 $ 1,188.88 $ 95,602.25
218 $ 95,602.25 $ 1,773.66 $ 577.60 $ 1,196.06 $ 94,406.18
219 $ 94,406.18 $ 1,773.66 $ 570.37 $ 1,203.29 $ 93,202.89
220 $ 93,202.89 $ 1,773.66 $ 563.10 $ 1,210.56 $ 91,992.33
221 $ 91,992.33 $ 1,773.66 $ 555.79 $ 1,217.87 $ 90,774.46
222 $ 90,774.46 $ 1,773.66 $ 548.43 $ 1,225.23 $ 89,549.23
223 $ 89,549.23 $ 1,773.66 $ 541.03 $ 1,232.63 $ 88,316.60
224 $ 88,316.60 $ 1,773.66 $ 533.58 $ 1,240.08 $ 87,076.52
225 $ 87,076.52 $ 1,773.66 $ 526.09 $ 1,247.57 $ 85,828.94
226 $ 85,828.94 $ 1,773.66 $ 518.55 $ 1,255.11 $ 84,573.83
227 $ 84,573.83 $ 1,773.66 $ 510.97 $ 1,262.69 $ 83,311.14
228 $ 83,311.14 $ 1,773.66 $ 503.34 $ 1,270.32 $ 82,040.82
229 $ 82,040.82 $ 1,773.66 $ 495.66 $ 1,278.00 $ 80,762.82
230 $ 80,762.82 $ 1,773.66 $ 487.94 $ 1,285.72 $ 79,477.10
231 $ 79,477.10 $ 1,773.66 $ 480.17 $ 1,293.49 $ 78,183.62
232 $ 78,183.62 $ 1,773.66 $ 472.36 $ 1,301.30 $ 76,882.32
233 $ 76,882.32 $ 1,773.66 $ 464.50 $ 1,309.16 $ 75,573.15
234 $ 75,573.15 $ 1,773.66 $ 456.59 $ 1,317.07 $ 74,256.08
235 $ 74,256.08 $ 1,773.66 $ 448.63 $ 1,325.03 $ 72,931.05
236 $ 72,931.05 $ 1,773.66 $ 440.63 $ 1,333.03 $ 71,598.02
237 $ 71,598.02 $ 1,773.66 $ 432.57 $ 1,341.09 $ 70,256.93
238 $ 70,256.93 $ 1,773.66 $ 424.47 $ 1,349.19 $ 68,907.74
239 $ 68,907.74 $ 1,773.66 $ 416.32 $ 1,357.34 $ 67,550.40
240 $ 67,550.40 $ 1,773.66 $ 408.12 $ 1,365.54 $ 66,184.85
241 $ 66,184.85 $ 1,773.66 $ 399.87 $ 1,373.79 $ 64,811.06
242 $ 64,811.06 $ 1,773.66 $ 391.57 $ 1,382.09 $ 63,428.97
243 $ 63,428.97 $ 1,773.66 $ 383.22 $ 1,390.44 $ 62,038.52
244 $ 62,038.52 $ 1,773.66 $ 374.82 $ 1,398.84 $ 60,639.68
245 $ 60,639.68 $ 1,773.66 $ 366.36 $ 1,407.30 $ 59,232.38
246 $ 59,232.38 $ 1,773.66 $ 357.86 $ 1,415.80 $ 57,816.59
247 $ 57,816.59 $ 1,773.66 $ 349.31 $ 1,424.35 $ 56,392.24
248 $ 56,392.24 $ 1,773.66 $ 340.70 $ 1,432.96 $ 54,959.28
249 $ 54,959.28 $ 1,773.66 $ 332.05 $ 1,441.61 $ 53,517.66
250 $ 53,517.66 $ 1,773.66 $ 323.34 $ 1,450.32 $ 52,067.34
251 $ 52,067.34 $ 1,773.66 $ 314.57 $ 1,459.09 $ 50,608.25
252 $ 50,608.25 $ 1,773.66 $ 305.76 $ 1,467.90 $ 49,140.35
253 $ 49,140.35 $ 1,773.66 $ 296.89 $ 1,476.77 $ 47,663.58
254 $ 47,663.58 $ 1,773.66 $ 287.97 $ 1,485.69 $ 46,177.89
255 $ 46,177.89 $ 1,773.66 $ 278.99 $ 1,494.67 $ 44,683.22
256 $ 44,683.22 $ 1,773.66 $ 269.96 $ 1,503.70 $ 43,179.52
257 $ 43,179.52 $ 1,773.66 $ 260.88 $ 1,512.78 $ 41,666.74
258 $ 41,666.74 $ 1,773.66 $ 251.74 $ 1,521.92 $ 40,144.81
259 $ 40,144.81 $ 1,773.66 $ 242.54 $ 1,531.12 $ 38,613.70
260 $ 38,613.70 $ 1,773.66 $ 233.29 $ 1,540.37 $ 37,073.33
261 $ 37,073.33 $ 1,773.66 $ 223.98 $ 1,549.68 $ 35,523.65
262 $ 35,523.65 $ 1,773.66 $ 214.62 $ 1,559.04 $ 33,964.61
263 $ 33,964.61 $ 1,773.66 $ 205.20 $ 1,568.46 $ 32,396.16
264 $ 32,396.16 $ 1,773.66 $ 195.73 $ 1,577.93 $ 30,818.22
265 $ 30,818.22 $ 1,773.66 $ 186.19 $ 1,587.47 $ 29,230.76
266 $ 29,230.76 $ 1,773.66 $ 176.60 $ 1,597.06 $ 27,633.70
267 $ 27,633.70 $ 1,773.66 $ 166.95 $ 1,606.71 $ 26,026.99
268 $ 26,026.99 $ 1,773.66 $ 157.25 $ 1,616.41 $ 24,410.58
269 $ 24,410.58 $ 1,773.66 $ 147.48 $ 1,626.18 $ 22,784.40
270 $ 22,784.40 $ 1,773.66 $ 137.66 $ 1,636.00 $ 21,148.40
271 $ 21,148.40 $ 1,773.66 $ 127.77 $ 1,645.89 $ 19,502.51
272 $ 19,502.51 $ 1,773.66 $ 117.83 $ 1,655.83 $ 17,846.67
273 $ 17,846.67 $ 1,773.66 $ 107.82 $ 1,665.84 $ 16,180.84
274 $ 16,180.84 $ 1,773.66 $ 97.76 $ 1,675.90 $ 14,504.94
275 $ 14,504.94 $ 1,773.66 $ 87.63 $ 1,686.03 $ 12,818.91
276 $ 12,818.91 $ 1,773.66 $ 77.45 $ 1,696.21 $ 11,122.70
277 $ 11,122.70 $ 1,773.66 $ 67.20 $ 1,706.46 $ 9,416.24
278 $ 9,416.24 $ 1,773.66 $ 56.89 $ 1,716.77 $ 7,699.47
279 $ 7,699.47 $ 1,773.66 $ 46.52 $ 1,727.14 $ 5,972.33
280 $ 5,972.33 $ 1,773.66 $ 36.08 $ 1,737.58 $ 4,234.75
281 $ 4,234.75 $ 1,773.66 $ 25.58 $ 1,748.08 $ 2,486.67
282 $ 2,486.67 $ 1,773.66 $ 15.02 $ 1,758.64 $ 728.04
283 $ 728.04 $ 1,773.66 $ 4.40 $ 1,769.26 $ (1,041.22)
onths to pay of loan

Under the assumption in question 8

Should Kieth and Jacqueline close the 2.75% 15 Year mortgage?
Time 180
Rate 0.002291666666667
Amount $ 226,509.07 (ending balance of loan after 60 months or first 5 years)

Monthly payment old $ 1,637.22

montly payment new $ 1,537.14

Interest to pay old $ 264,657.86 (total interest paid 30 year loan - interest already paid first 5 years)
Interest to pay new $ 50,176.05

Months Beginning Balance pmt Interest Principal Ending Balance

1 $ 226,509.07 $ 1,537.14 $ 519.08 $ 1,018.06 $ 225,491.01
2 $ 225,491.01 $ 1,537.14 $ 516.75 $ 1,020.39 $ 224,470.62
3 $ 224,470.62 $ 1,537.14 $ 514.41 $ 1,022.73 $ 223,447.90
4 $ 223,447.90 $ 1,537.14 $ 512.07 $ 1,025.07 $ 222,422.83
5 $ 222,422.83 $ 1,537.14 $ 509.72 $ 1,027.42 $ 221,395.40
6 $ 221,395.40 $ 1,537.14 $ 507.36 $ 1,029.78 $ 220,365.63
7 $ 220,365.63 $ 1,537.14 $ 505.00 $ 1,032.13 $ 219,333.49
8 $ 219,333.49 $ 1,537.14 $ 502.64 $ 1,034.50 $ 218,298.99
9 $ 218,298.99 $ 1,537.14 $ 500.27 $ 1,036.87 $ 217,262.12
10 $ 217,262.12 $ 1,537.14 $ 497.89 $ 1,039.25 $ 216,222.88
11 $ 216,222.88 $ 1,537.14 $ 495.51 $ 1,041.63 $ 215,181.25
12 $ 215,181.25 $ 1,537.14 $ 493.12 $ 1,044.02 $ 214,137.23
13 $ 214,137.23 $ 1,537.14 $ 490.73 $ 1,046.41 $ 213,090.82
14 $ 213,090.82 $ 1,537.14 $ 488.33 $ 1,048.81 $ 212,042.02
15 $ 212,042.02 $ 1,537.14 $ 485.93 $ 1,051.21 $ 210,990.81
16 $ 210,990.81 $ 1,537.14 $ 483.52 $ 1,053.62 $ 209,937.19
17 $ 209,937.19 $ 1,537.14 $ 481.11 $ 1,056.03 $ 208,881.15
18 $ 208,881.15 $ 1,537.14 $ 478.69 $ 1,058.45 $ 207,822.70
19 $ 207,822.70 $ 1,537.14 $ 476.26 $ 1,060.88 $ 206,761.82
20 $ 206,761.82 $ 1,537.14 $ 473.83 $ 1,063.31 $ 205,698.51
21 $ 205,698.51 $ 1,537.14 $ 471.39 $ 1,065.75 $ 204,632.76
22 $ 204,632.76 $ 1,537.14 $ 468.95 $ 1,068.19 $ 203,564.57
23 $ 203,564.57 $ 1,537.14 $ 466.50 $ 1,070.64 $ 202,493.94
24 $ 202,493.94 $ 1,537.14 $ 464.05 $ 1,073.09 $ 201,420.85
25 $ 201,420.85 $ 1,537.14 $ 461.59 $ 1,075.55 $ 200,345.30
26 $ 200,345.30 $ 1,537.14 $ 459.12 $ 1,078.01 $ 199,267.28
27 $ 199,267.28 $ 1,537.14 $ 456.65 $ 1,080.49 $ 198,186.80
28 $ 198,186.80 $ 1,537.14 $ 454.18 $ 1,082.96 $ 197,103.83
29 $ 197,103.83 $ 1,537.14 $ 451.70 $ 1,085.44 $ 196,018.39
30 $ 196,018.39 $ 1,537.14 $ 449.21 $ 1,087.93 $ 194,930.46
31 $ 194,930.46 $ 1,537.14 $ 446.72 $ 1,090.42 $ 193,840.04
32 $ 193,840.04 $ 1,537.14 $ 444.22 $ 1,092.92 $ 192,747.11
33 $ 192,747.11 $ 1,537.14 $ 441.71 $ 1,095.43 $ 191,651.69
34 $ 191,651.69 $ 1,537.14 $ 439.20 $ 1,097.94 $ 190,553.75
35 $ 190,553.75 $ 1,537.14 $ 436.69 $ 1,100.45 $ 189,453.29
36 $ 189,453.29 $ 1,537.14 $ 434.16 $ 1,102.98 $ 188,350.32
37 $ 188,350.32 $ 1,537.14 $ 431.64 $ 1,105.50 $ 187,244.82
38 $ 187,244.82 $ 1,537.14 $ 429.10 $ 1,108.04 $ 186,136.78
39 $ 186,136.78 $ 1,537.14 $ 426.56 $ 1,110.58 $ 185,026.20
40 $ 185,026.20 $ 1,537.14 $ 424.02 $ 1,113.12 $ 183,913.08
41 $ 183,913.08 $ 1,537.14 $ 421.47 $ 1,115.67 $ 182,797.41
42 $ 182,797.41 $ 1,537.14 $ 418.91 $ 1,118.23 $ 181,679.18
43 $ 181,679.18 $ 1,537.14 $ 416.35 $ 1,120.79 $ 180,558.39
44 $ 180,558.39 $ 1,537.14 $ 413.78 $ 1,123.36 $ 179,435.03
45 $ 179,435.03 $ 1,537.14 $ 411.21 $ 1,125.93 $ 178,309.09
46 $ 178,309.09 $ 1,537.14 $ 408.63 $ 1,128.51 $ 177,180.58
47 $ 177,180.58 $ 1,537.14 $ 406.04 $ 1,131.10 $ 176,049.48
48 $ 176,049.48 $ 1,537.14 $ 403.45 $ 1,133.69 $ 174,915.79
49 $ 174,915.79 $ 1,537.14 $ 400.85 $ 1,136.29 $ 173,779.50
50 $ 173,779.50 $ 1,537.14 $ 398.24 $ 1,138.89 $ 172,640.60
51 $ 172,640.60 $ 1,537.14 $ 395.63 $ 1,141.50 $ 171,499.10
52 $ 171,499.10 $ 1,537.14 $ 393.02 $ 1,144.12 $ 170,354.97
53 $ 170,354.97 $ 1,537.14 $ 390.40 $ 1,146.74 $ 169,208.23
54 $ 169,208.23 $ 1,537.14 $ 387.77 $ 1,149.37 $ 168,058.86
55 $ 168,058.86 $ 1,537.14 $ 385.13 $ 1,152.00 $ 166,906.86
56 $ 166,906.86 $ 1,537.14 $ 382.49 $ 1,154.64 $ 165,752.21
57 $ 165,752.21 $ 1,537.14 $ 379.85 $ 1,157.29 $ 164,594.92
58 $ 164,594.92 $ 1,537.14 $ 377.20 $ 1,159.94 $ 163,434.98
59 $ 163,434.98 $ 1,537.14 $ 374.54 $ 1,162.60 $ 162,272.38
60 $ 162,272.38 $ 1,537.14 $ 371.87 $ 1,165.27 $ 161,107.11
61 $ 161,107.11 $ 1,537.14 $ 369.20 $ 1,167.94 $ 159,939.18
62 $ 159,939.18 $ 1,537.14 $ 366.53 $ 1,170.61 $ 158,768.56
63 $ 158,768.56 $ 1,537.14 $ 363.84 $ 1,173.29 $ 157,595.27
64 $ 157,595.27 $ 1,537.14 $ 361.16 $ 1,175.98 $ 156,419.29
65 $ 156,419.29 $ 1,537.14 $ 358.46 $ 1,178.68 $ 155,240.61
66 $ 155,240.61 $ 1,537.14 $ 355.76 $ 1,181.38 $ 154,059.23
67 $ 154,059.23 $ 1,537.14 $ 353.05 $ 1,184.09 $ 152,875.14
68 $ 152,875.14 $ 1,537.14 $ 350.34 $ 1,186.80 $ 151,688.34
69 $ 151,688.34 $ 1,537.14 $ 347.62 $ 1,189.52 $ 150,498.82
70 $ 150,498.82 $ 1,537.14 $ 344.89 $ 1,192.25 $ 149,306.57
71 $ 149,306.57 $ 1,537.14 $ 342.16 $ 1,194.98 $ 148,111.59
72 $ 148,111.59 $ 1,537.14 $ 339.42 $ 1,197.72 $ 146,913.88
73 $ 146,913.88 $ 1,537.14 $ 336.68 $ 1,200.46 $ 145,713.41
74 $ 145,713.41 $ 1,537.14 $ 333.93 $ 1,203.21 $ 144,510.20
75 $ 144,510.20 $ 1,537.14 $ 331.17 $ 1,205.97 $ 143,304.23
76 $ 143,304.23 $ 1,537.14 $ 328.41 $ 1,208.73 $ 142,095.50
77 $ 142,095.50 $ 1,537.14 $ 325.64 $ 1,211.50 $ 140,883.99
78 $ 140,883.99 $ 1,537.14 $ 322.86 $ 1,214.28 $ 139,669.71
79 $ 139,669.71 $ 1,537.14 $ 320.08 $ 1,217.06 $ 138,452.65
80 $ 138,452.65 $ 1,537.14 $ 317.29 $ 1,219.85 $ 137,232.80
81 $ 137,232.80 $ 1,537.14 $ 314.49 $ 1,222.65 $ 136,010.15
82 $ 136,010.15 $ 1,537.14 $ 311.69 $ 1,225.45 $ 134,784.70
83 $ 134,784.70 $ 1,537.14 $ 308.88 $ 1,228.26 $ 133,556.44
84 $ 133,556.44 $ 1,537.14 $ 306.07 $ 1,231.07 $ 132,325.37
 85 $ 132,325.37 $ 1,537.14 $ 303.25 $ 1,233.89 $ 131,091.48
86 $ 131,091.48 $ 1,537.14 $ 300.42 $ 1,236.72 $ 129,854.75
87 $ 129,854.75 $ 1,537.14 $ 297.58 $ 1,239.56 $ 128,615.20
88 $ 128,615.20 $ 1,537.14 $ 294.74 $ 1,242.40 $ 127,372.80
89 $ 127,372.80 $ 1,537.14 $ 291.90 $ 1,245.24 $ 126,127.56
90 $ 126,127.56 $ 1,537.14 $ 289.04 $ 1,248.10 $ 124,879.46
91 $ 124,879.46 $ 1,537.14 $ 286.18 $ 1,250.96 $ 123,628.50
92 $ 123,628.50 $ 1,537.14 $ 283.32 $ 1,253.82 $ 122,374.68
93 $ 122,374.68 $ 1,537.14 $ 280.44 $ 1,256.70 $ 121,117.98
94 $ 121,117.98 $ 1,537.14 $ 277.56 $ 1,259.58 $ 119,858.40
95 $ 119,858.40 $ 1,537.14 $ 274.68 $ 1,262.46 $ 118,595.94
96 $ 118,595.94 $ 1,537.14 $ 271.78 $ 1,265.36 $ 117,330.58
97 $ 117,330.58 $ 1,537.14 $ 268.88 $ 1,268.26 $ 116,062.33
98 $ 116,062.33 $ 1,537.14 $ 265.98 $ 1,271.16 $ 114,791.16
99 $ 114,791.16 $ 1,537.14 $ 263.06 $ 1,274.08 $ 113,517.09
100 $ 113,517.09 $ 1,537.14 $ 260.14 $ 1,277.00 $ 112,240.09
101 $ 112,240.09 $ 1,537.14 $ 257.22 $ 1,279.92 $ 110,960.17
102 $ 110,960.17 $ 1,537.14 $ 254.28 $ 1,282.86 $ 109,677.31
103 $ 109,677.31 $ 1,537.14 $ 251.34 $ 1,285.80 $ 108,391.52
104 $ 108,391.52 $ 1,537.14 $ 248.40 $ 1,288.74 $ 107,102.77
105 $ 107,102.77 $ 1,537.14 $ 245.44 $ 1,291.70 $ 105,811.08
106 $ 105,811.08 $ 1,537.14 $ 242.48 $ 1,294.66 $ 104,516.42
107 $ 104,516.42 $ 1,537.14 $ 239.52 $ 1,297.62 $ 103,218.80
108 $ 103,218.80 $ 1,537.14 $ 236.54 $ 1,300.60 $ 101,918.20
109 $ 101,918.20 $ 1,537.14 $ 233.56 $ 1,303.58 $ 100,614.63
110 $ 100,614.63 $ 1,537.14 $ 230.58 $ 1,306.56 $ 99,308.06
111 $ 99,308.06 $ 1,537.14 $ 227.58 $ 1,309.56 $ 97,998.50
112 $ 97,998.50 $ 1,537.14 $ 224.58 $ 1,312.56 $ 96,685.94
113 $ 96,685.94 $ 1,537.14 $ 221.57 $ 1,315.57 $ 95,370.37
114 $ 95,370.37 $ 1,537.14 $ 218.56 $ 1,318.58 $ 94,051.79
115 $ 94,051.79 $ 1,537.14 $ 215.54 $ 1,321.60 $ 92,730.19
116 $ 92,730.19 $ 1,537.14 $ 212.51 $ 1,324.63 $ 91,405.56
117 $ 91,405.56 $ 1,537.14 $ 209.47 $ 1,327.67 $ 90,077.89
118 $ 90,077.89 $ 1,537.14 $ 206.43 $ 1,330.71 $ 88,747.18
119 $ 88,747.18 $ 1,537.14 $ 203.38 $ 1,333.76 $ 87,413.42
120 $ 87,413.42 $ 1,537.14 $ 200.32 $ 1,336.82 $ 86,076.60
121 $ 86,076.60 $ 1,537.14 $ 197.26 $ 1,339.88 $ 84,736.72
122 $ 84,736.72 $ 1,537.14 $ 194.19 $ 1,342.95 $ 83,393.77
123 $ 83,393.77 $ 1,537.14 $ 191.11 $ 1,346.03 $ 82,047.74
124 $ 82,047.74 $ 1,537.14 $ 188.03 $ 1,349.11 $ 80,698.62
125 $ 80,698.62 $ 1,537.14 $ 184.93 $ 1,352.21 $ 79,346.42
126 $ 79,346.42 $ 1,537.14 $ 181.84 $ 1,355.30 $ 77,991.11
127 $ 77,991.11 $ 1,537.14 $ 178.73 $ 1,358.41 $ 76,632.70
128 $ 76,632.70 $ 1,537.14 $ 175.62 $ 1,361.52 $ 75,271.18
129 $ 75,271.18 $ 1,537.14 $ 172.50 $ 1,364.64 $ 73,906.54
130 $ 73,906.54 $ 1,537.14 $ 169.37 $ 1,367.77 $ 72,538.77
131 $ 72,538.77 $ 1,537.14 $ 166.23 $ 1,370.90 $ 71,167.86
132 $ 71,167.86 $ 1,537.14 $ 163.09 $ 1,374.05 $ 69,793.82
133 $ 69,793.82 $ 1,537.14 $ 159.94 $ 1,377.20 $ 68,416.62
134 $ 68,416.62 $ 1,537.14 $ 156.79 $ 1,380.35 $ 67,036.27
135 $ 67,036.27 $ 1,537.14 $ 153.62 $ 1,383.51 $ 65,652.75
136 $ 65,652.75 $ 1,537.14 $ 150.45 $ 1,386.69 $ 64,266.07
137 $ 64,266.07 $ 1,537.14 $ 147.28 $ 1,389.86 $ 62,876.21
138 $ 62,876.21 $ 1,537.14 $ 144.09 $ 1,393.05 $ 61,483.16
139 $ 61,483.16 $ 1,537.14 $ 140.90 $ 1,396.24 $ 60,086.92
140 $ 60,086.92 $ 1,537.14 $ 137.70 $ 1,399.44 $ 58,687.48
141 $ 58,687.48 $ 1,537.14 $ 134.49 $ 1,402.65 $ 57,284.83
142 $ 57,284.83 $ 1,537.14 $ 131.28 $ 1,405.86 $ 55,878.97
143 $ 55,878.97 $ 1,537.14 $ 128.06 $ 1,409.08 $ 54,469.88
144 $ 54,469.88 $ 1,537.14 $ 124.83 $ 1,412.31 $ 53,057.57
145 $ 53,057.57 $ 1,537.14 $ 121.59 $ 1,415.55 $ 51,642.02
146 $ 51,642.02 $ 1,537.14 $ 118.35 $ 1,418.79 $ 50,223.23
147 $ 50,223.23 $ 1,537.14 $ 115.09 $ 1,422.04 $ 48,801.18
148 $ 48,801.18 $ 1,537.14 $ 111.84 $ 1,425.30 $ 47,375.88
149 $ 47,375.88 $ 1,537.14 $ 108.57 $ 1,428.57 $ 45,947.31
150 $ 45,947.31 $ 1,537.14 $ 105.30 $ 1,431.84 $ 44,515.47
151 $ 44,515.47 $ 1,537.14 $ 102.01 $ 1,435.12 $ 43,080.34
152 $ 43,080.34 $ 1,537.14 $ 98.73 $ 1,438.41 $ 41,641.93
153 $ 41,641.93 $ 1,537.14 $ 95.43 $ 1,441.71 $ 40,200.22
154 $ 40,200.22 $ 1,537.14 $ 92.13 $ 1,445.01 $ 38,755.20
155 $ 38,755.20 $ 1,537.14 $ 88.81 $ 1,448.33 $ 37,306.88
156 $ 37,306.88 $ 1,537.14 $ 85.49 $ 1,451.64 $ 35,855.23
157 $ 35,855.23 $ 1,537.14 $ 82.17 $ 1,454.97 $ 34,400.26
158 $ 34,400.26 $ 1,537.14 $ 78.83 $ 1,458.31 $ 32,941.96
159 $ 32,941.96 $ 1,537.14 $ 75.49 $ 1,461.65 $ 31,480.31
160 $ 31,480.31 $ 1,537.14 $ 72.14 $ 1,465.00 $ 30,015.31
161 $ 30,015.31 $ 1,537.14 $ 68.79 $ 1,468.35 $ 28,546.96
162 $ 28,546.96 $ 1,537.14 $ 65.42 $ 1,471.72 $ 27,075.24
163 $ 27,075.24 $ 1,537.14 $ 62.05 $ 1,475.09 $ 25,600.15
164 $ 25,600.15 $ 1,537.14 $ 58.67 $ 1,478.47 $ 24,121.67
165 $ 24,121.67 $ 1,537.14 $ 55.28 $ 1,481.86 $ 22,639.81
166 $ 22,639.81 $ 1,537.14 $ 51.88 $ 1,485.26 $ 21,154.56
167 $ 21,154.56 $ 1,537.14 $ 48.48 $ 1,488.66 $ 19,665.90
168 $ 19,665.90 $ 1,537.14 $ 45.07 $ 1,492.07 $ 18,173.82
169 $ 18,173.82 $ 1,537.14 $ 41.65 $ 1,495.49 $ 16,678.33
170 $ 16,678.33 $ 1,537.14 $ 38.22 $ 1,498.92 $ 15,179.41
171 $ 15,179.41 $ 1,537.14 $ 34.79 $ 1,502.35 $ 13,677.06
172 $ 13,677.06 $ 1,537.14 $ 31.34 $ 1,505.80 $ 12,171.27
173 $ 12,171.27 $ 1,537.14 $ 27.89 $ 1,509.25 $ 10,662.02
174 $ 10,662.02 $ 1,537.14 $ 24.43 $ 1,512.71 $ 9,149.31
175 $ 9,149.31 $ 1,537.14 $ 20.97 $ 1,516.17 $ 7,633.14
176 $ 7,633.14 $ 1,537.14 $ 17.49 $ 1,519.65 $ 6,113.49
177 $ 6,113.49 $ 1,537.14 $ 14.01 $ 1,523.13 $ 4,590.36
178 $ 4,590.36 $ 1,537.14 $ 10.52 $ 1,526.62 $ 3,063.74
179 $ 3,063.74 $ 1,537.14 $ 7.02 $ 1,530.12 $ 1,533.63
180 $ 1,533.63 $ 1,537.14 $ 3.51 $ 1,533.63 $ 0.00
$ 226,509.07
 I would argue that the Sommer's should close on the 15 Year
2.75% refinanced mortgage for a few reasons. First, they will
pay a large portion less of interest ($50,176.05) over 15
years, than they would have to pay over the 30 year loan
($264,657.86). Second, the monthly payment with the new
rate ($1,537.14) is less than the old rate monthly payment of
eady paid first 5 years) ($1,637.22). So