This tool helps answer the questions:
  1. Is it worth it to refinance a mortgage for a lower interest rate, with additional up-front loan fee?
  2. If I need extra cash now, is cash out from a mortgage refinance better than personal loan? What is the implicit interest rate of cash out?
Current Loan clear
Current property value
Original loan amount
Original loan term (years)
Mortgage rate
Loan start date
Loan balance
New Loan
Cash out
(added to loan amount)
Loan amount
Loan term (years)  
Mortgage rate
Refinance fee
(added to loan amount)
Refinance Consideration
Current
New
Difference
Monthly payment
10-year payment
All future payment
All future interest
Cash out amount
Implicit interest rate