What is your return on investment if you have a chance to refinance your current mortgage of
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Question:
What is your return on investment if you have a chance to refinance your current mortgage of $750,000 with a rate of 5.5% and 30-year amortization after 5 years. Do a non-cash out refinance and your closing costs to refinance is 5% the new amortization is 25 years and the interest rate 3.5%.
What is the rate of return if you are only going to stay for an additional 5 years?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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