Old Interest — Financial input. Directly drives affordability, yield, or cost; small changes compound over time. Example: 0.1.
Old Interest is required
New Interest — Financial input. Directly drives affordability, yield, or cost; small changes compound over time. Example: 0.1.
New Interest is required
Closing — Financial input. Directly drives affordability, yield, or cost; small changes compound over time. Example: 0.1.
Closing is required
Net interest savings from refinancing.
Formula
netSavings = oldInterest − newInterest − closing