Refinancing savings
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Your figures
Net interest saving over 24 months
$13,247
Current monthly payment
$4,005
New monthly payment
$3,589
Switching costs
$2,500
Costs recovered
Month 4
Compares interest on reducing balances over the same remaining loan period, less switching costs. Include legal fees, penalties and subsidy repayments in costs. Assumes both rates stay unchanged.
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