Chapter 9

Refinancing

When a lower payment pays for itself

An explorable chapter on refinancing: the break-even month from costs and monthly savings, comparing it with how long the borrower will stay, and sizing a cash-out loan against an LTV limit.

1. 9.1
   The break-even monthCosts ÷ monthly saving
2. 9.2
   Will the borrower stay long enough?Compare break-even with the time in the home
3. 9.3
   Cash-out refinancingPayoff + cash + costs, within the LTV limit

1 slider tasks · 2 practice sets · 8 questions