An IRRRL or a VA cash-out, side by side with today
Streamline or cash out, with the funding fee and the break-even month.
A VA refinance
Lower each month by
$304
Costs of $6,000 are repaid in about 20 months.
Payment now$2,465
Payment after$2,161
Base loan$356,000
Funding fee$4,450
Loan-to-value65.5%
New loan amount$360,450
Amortisation schedule
360 payments · $417,539 interest over the life of the loan. Illustrative.
| Period | Payment | Interest | Principal | Balance | Interest to date |
|---|---|---|---|---|---|
| Year 1 | $25,933 | $21,507 | $4,426 | $356,024 | $21,507 |
| Year 2 | $25,933 | $21,234 | $4,699 | $351,324 | $42,740 |
| Year 3 | $25,933 | $20,944 | $4,989 | $346,335 | $63,684 |
| Year 4 | $25,933 | $20,636 | $5,297 | $341,038 | $84,320 |
| Year 5 | $25,933 | $20,309 | $5,624 | $335,414 | $104,629 |
| Year 6 | $25,933 | $19,962 | $5,971 | $329,444 | $124,592 |
| Year 7 | $25,933 | $19,594 | $6,339 | $323,105 | $144,186 |
| Year 8 | $25,933 | $19,203 | $6,730 | $316,375 | $163,389 |
| Year 9 | $25,933 | $18,788 | $7,145 | $309,231 | $182,177 |
| Year 10 | $25,933 | $18,347 | $7,585 | $301,645 | $200,525 |
| Year 11 | $25,933 | $17,880 | $8,053 | $293,592 | $218,404 |
| Year 12 | $25,933 | $17,383 | $8,550 | $285,042 | $235,787 |
| Year 13 | $25,933 | $16,856 | $9,077 | $275,964 | $252,643 |
| Year 14 | $25,933 | $16,296 | $9,637 | $266,327 | $268,939 |
| Year 15 | $25,933 | $15,701 | $10,232 | $256,096 | $284,640 |
| Year 16 | $25,933 | $15,070 | $10,863 | $245,233 | $299,710 |
| Year 17 | $25,933 | $14,400 | $11,533 | $233,700 | $314,110 |
| Year 18 | $25,933 | $13,689 | $12,244 | $221,456 | $327,799 |
| Year 19 | $25,933 | $12,934 | $12,999 | $208,457 | $340,733 |
| Year 20 | $25,933 | $12,132 | $13,801 | $194,656 | $352,865 |
| Year 21 | $25,933 | $11,281 | $14,652 | $180,004 | $364,146 |
| Year 22 | $25,933 | $10,377 | $15,556 | $164,448 | $374,523 |
| Year 23 | $25,933 | $9,418 | $16,515 | $147,932 | $383,941 |
| Year 24 | $25,933 | $8,399 | $17,534 | $130,399 | $392,340 |
| Year 25 | $25,933 | $7,318 | $18,615 | $111,783 | $399,657 |
| Year 26 | $25,933 | $6,169 | $19,764 | $92,019 | $405,826 |
| Year 27 | $25,933 | $4,950 | $20,983 | $71,037 | $410,777 |
| Year 28 | $25,933 | $3,656 | $22,277 | $48,760 | $414,433 |
| Year 29 | $25,933 | $2,282 | $23,651 | $25,109 | $416,715 |
| Year 30 | $25,933 | $824 | $25,109 | $0 | $417,539 |
What this page assumed
- An IRRRL is modelled as a rate-and-term refinance with the costs financed; a cash-out adds the sum you name to the balance.
- VA cash-out limits vary by lender and by the veteran's entitlement — the figure here is not a lending limit.
- Occupancy, seasoning and net-tangible-benefit rules are not modelled.
- Every figure on this page is illustrative. It is not a rate, an APR, a quote or a commitment to lend.
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Talk it through with someone
A demonstration form. It validates, then shows you the thank-you state — it does not send, store or transmit anything.
Numbers are a start, not an answer.
A calculator does not know your credit, your reserves, the property, or what the seller will agree to. On a real site this is where you would talk to somebody.