1. A.n.d.r.e.i. S.a.n.t.o.s. p.u.r.c.h.a.s.e.d.
1. A.n.d.r.e.i. S.a.n.t.o.s. p.u.r.c.h.a.s.e.d. a. c.o.n.d.o.m.i.n.i.u.m .4 y.e.a.r.s. a.g.o. f.o.r. P 3,600,000 p.a.y.i.n.g P37,500 p.e.r m.o.n.t.h. o.n. h.e.r. P2,000,000, 8%, 2.5 y.e.a.r. m.o.r.t.g.a.g.e T.h.e. .c.u.r.r.e.n.t. l.o.a.n. b.a.l.a.n.c.e. i.s P1,524,010 R.e.c.e.n.t.l.y. i.n.t.e.r.e.s.t. r.a.t.e.s. d.r.o.p.p.e.d. s.h.a.r.p.l.y. c.a.u.s.i.n.g. A.n.d.r.e.i. t.o. c.o.n.s.i.d.e.r. r.e.f.i.n.a.n.c.i.n.g. h.e.r. c.o.n.d.o. a.t. t.h.e. p.r.e.v.a.i.l.i.n.g. r.a.t.e. o.f. 6.%. .H.e. e.x.p.e.c.t.s. t.o. r.e.m.a.i.n. i.n. t.h.e. c.o.n.d.o. f.o.r. a.t. l.e.a.s.t. 4. m.o.r.e. y.e.a.r.s. a.n.d. h.a.s. f.o.u.n.d. .a. l.e.n.d.e.r. t.h.a.t. w.i.l.l. m.a.k.e. a. 6%, 21-y.e.a.r. P1,524,010 l.o.a.n. r.e.q.u.i.r.i.n.g. m.o.n.t.h..l.y. p.a.y.m.e.nt.s. o.f P10,650.00 a.l.t.h.o.u.g.h. t.h.e.r.e. i.s. n.o. r.e.p.a.y.m.e.n.t. p.e.n.a.l.t.y o.n. h.e.r. c.u.r.r.e.n.t. m.o.r.t.g.a.g.e. A.n.d.r.e.i. w.i.l.l. h.a.v.e. t.o. p.a.y P50,000 i.n. c.l.o.s.i.n.g. c.o.s.t.s. o.n. t.h.e. n.e.w. m.o.r.t.g.a.g.e. H.e. i.s. i.n t.h.e. 15% ta.x. b.r.a.c.k.e.t.
B.a.s.e.d. o.n. t.h.i.s. i.n.f.o.r.m.a.t.i.o.n, u.s.e. t.h.e. m.o.r.t.g.a.g.e. r.e.f.i.n.a.n.c.i.n.g. a.n.a.l.y.s.i.s. t.o. d.e.t.e.r.m.i.n.e. w.h.e.t.h.e.r. h.e. s.h.o.u.l.d. r.e.f.i.n.a.n.c.e. h.i.s. m.o.r.t.g.a.g.e. u.n.d.e.r. t.h.e. s.p.e.c.i.f.i.e.d. t.e.r.m.s.
M.O.R.T.G.A.G.E R.E.F.I.N.A.N.C.I.N.G A.N.A.L.Y.S.I.S (.F.o.l.l.o.w .t.h.i.s. f.o.r.m.a.t.)
![Item Description
1. Current monthly payment term (Terms:
2. New monthly payment (Terms:
3. Monthly savings, pretax (Item 1 - Item 2)
4. Tax on monthly savings (Item 3 x tax rate (_____%))
5. Monthly savings, after-tax (Item 3 – Item 4)
-
6. Cost to refinance:
a) Prepayment penalty
b) Total closing costs (after-tax)
c) Total refinancing costs (Item 6a + Item 6b)
7. Months to break even (Item 6c + Item 5
%, 30 years)
%, 20 years)
P
Amount
P](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fec91a0c8-e3f7-48f0-835f-f62fbe6d1324%2F1ba23bfb-66a2-410c-b1dd-cd755eb33d8b%2Fjokypgv_processed.jpeg&w=3840&q=75)
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