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NextHome Experts
15000 Madison Ave
Lakewood, OH 44107
Phone: (216) 423-5100

Thank you again for finding us this Great House! Tom and Beatrix Tyna (Bay Village)

In this market, it would be easy to throw up your hands and say it's close to impossible, just sit back and hope for the best, but not you. The marketing materials were great and the effort you put in helped to sell the house in an impressive amount of time. Thank you for your input to get the house looking its best and for helping with all areas of the sale. I can rest easy with planning my wedding knowing I have that checked off my list. When Chris and I head back to Cleveland, I will be the first one to look you up and use your services to find our new home. Yours Truly, Kate Plenzler (Avon Lake)

Your ambitious approach is very refreshing. Linda Wagenknecht (Lakewood)

Tony is the Professional in Realty Professionals. Lee Zapis (Bay Village)

Professional in every detail. Sensitive to our personal situation. Business ethics and moral values are to be admired, Does everything in his power to make what could be a highly stressful time in your life, a pleasurable experience. Donald and Betty Maxam (Huron)

A pleasure working with you. We think of you as a new friend. You are truly a professional. Zita and Ken Boitel (Westlake)

Your consistent communication, attention to detail and advice made the entire process a smooth one and one that I learned a great deal from. James Elios (Avon Lake)

I knew throughout the whole process that everything would turn out well because you were very honest and up front with me. You went above and beyond what any other Realtor would do. Robert W. Rosol (Fairview Park)

We couldn't be happier in our new home - could not have done it without you! Dennis and Michelle Pinozzi (Lakewood)

You were knowledgeable and taught me how to look at electrical, plumbing and structural things I never would have noticed. You also listened to what I wanted and helped me to narrow my search. I was treated with respect, something a single female does not encounter very often in the Real Estate market. Theresa A. Clarke (Lakewood)

Thanks again for all your help. I've told a lot of agents in my office what a super agent you are - a real professional. Judy Nupp - Howard Hanna (Rocky River)

Real Estate Tips

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Mortgage Calculator     
Calculators Provided by: IMAGEPROWEBSITE.COM

Should I Refinance?

Input Information
  Before Refinancing After Refinancing
Amount : ($)
Interest Rate : (%) (%)
Length : (Yrs) (Yrs)
Months Paid : (Mts)
Years Before Sell : (Yrs)
Fees and Points
Points : (%)
Origination Fees : (%)
Closing Costs : ($)
Your Taxes Rates
Tax Rate : (%)
State Tax Rate : (%)

Financial Analysis (Switch to Plain English)
  Before Refinancing After Refinancing
Monthly Payment : $1,122.61 $1,136.20
Total Monthly Payments : $67,356.70 $68,172.28
Monthly Payment Savings : $-815.58
Total Interests Paid : $36,681.21 $48,344.56
Tax Savings : $11,371.18 $14,986.81
Tax Saving Losses : $-3,615.64
Balance at Refinance : $224,242.68
Points Value : $2,242.43
Refinance amount : $224,242.68
Balance at Sale : $193,567.19 $204,414.96
Balance Losses : $10,847.77
Total Losses : $7,232.13
Total Closing Costs : $3,442.43
Total Savings : $-815.58
Total Benefit
(Savings - Losses - Closing) : 		$-11,490.14
Plain English Help (Switch to Financial Analysis)

Deciding whether or not you should refinance your home mortgage depends upon several factors. It also depends upon whether you are looking to simply reduce your monthly payment or if you are hoping to save money in the long run.

To understand better, let’s look at an example. If your original 30 years loan was for $250,000.00 with a 3.500% interest, and you have already paid on it for 60 months, it will increase your monthly payment if you refinance for a new 30 years period but with a 4.500% interest rate.

If your Federal tax rate is 26.000% and your state tax rate is 5.000%, you were probably paying $1,122.61 per month toward your home. When you refinance at the new rate, you will pay $1,136.20 instead, but your tax benefits will also be affected by this change.

The bottom line is:

  • your tax savings will be $3,615.64 more (bigger tax benefit is better)
  • your remaining balance will be $10,847.77 bigger because you will pay less toward your mortgage principal (bigger principal is worse)
  • closing your refinancing process will cost you $3,442.43

Summing up these numbers, we can figure out your total refinancing LOSSES, which will be $11,490.14.

DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or it's applicability to your financial situation. Please consult your own financial advisor.