DATA GIVEN FOR THE OLD LOAN AND THE NEW LOAN RUSH RUSH FINANCE ....PERSONAL Marginal tax rate

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DATA GIVEN FOR THE OLD LOAN AND THE NEW LOAN

RUSH RUSH FINANCE ....PERSONAL Marginal tax rate 6% Resale Plan (Months) 60 MORTGAGE TERMS Original Mortgage Amount $150,000.00 Current Mortgage Rate 5.75% Original Term (Years) 20 Months Paid 117 New Mortage Rate 3.00% New Term (YEARS) 15 Points 0 REFINACING FEES Application $200.00 Title $2,000.00 Legal $200.00 Other $10,779.85 Points 0 Total Fees $13,179.85 ANALYSIS CURRENT PROPOSED Mortgage Amount 97, 703.26 $97,703.26 ANALYSIS Mortgage Payment Months to Recover Refinancing cost Mortage Balance at Resale (Valor Presente del MA - c26 Principal Repaid to Resale ( - MA - MBAR = c26 c29) Total Payments to Resale Total Interest to Resale Tax Deduction on Interest Net Interest Costo to Resale Interest Savings (COSTS) TOTAL SAVINGS COST (COSTS)

COURSE : FINANCE: INCLUDED DATA FOR OLD LOAM AND NEW LOAN TO RECALCULATE MORTGAGE PAYMENTS ETC

PERSONAL
MARGINAL TAX RATE	6%
RESALE PLAN (MONTHS)	60

MORTGAGE TERMS
ORIGINAL MORTGAGE AMOUNT	$150,000.00
CURRENT MORTGAGE RATE	5.75%
ORIGINAL TERM (YEARS)	20
MONTHS PAID	117
NEW MORTGAGE RATE	3.00%
NEW TERM (YEARS)	15
POINTS	0

REFINANCING FEES
APPLICATION	$200.00
TITLE	$2,000.00
LEGAL	$200.00
OTHER	$10,779.85
POINTS	0
tOTAL FEES	$13,179.85

ANALYSIS	CURRENT	PRPOSED
NORTGAGE AMOUNT	$97,703.26	$97,703.26

ANALYSIS	FOR THE NEW LOAN : FIND
MORTGAGE PAYMENT
MONTHS TO RECOVER REFINANCING COST
MORTGAGE BALANCE AT RESALE (PRESENT VALUE)
PRINCIPAL REPAID TO RESALE
TOTAL PAYMENTS TO RESALE
TOTAL INTEREST TO RESALE
TAX DEDUCTION ON INTEREST
NET INTEREST COST TO RESALE
INTEREST SAVINGS (COSTS)
TOTAL SAVINGS COST