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Over the last couple of years with interest rates at a 40-year low, many people refinanced their mortgages. Depending on how many months the ongoing monthly interest savings will take to cover your upfront closing costs, refinancing may make sense for you. Use our refinance calculator to analyze your situation today!
A refinance calculator is an essential online tool that helps Canadian property owners determine if refinancing their commercial real estate makes financial sense. By comparing your current mortgage terms with potential new lending options, this calculator helps you understand the potential savings or costs associated with refinancing.
To use our refinance calculator online, you'll need to input information in two main sections:
Current Loan Information:
Proposed Loan Information:
The calculator processes these inputs to provide a comprehensive analysis of your refinancing scenario. For example, if you're refinancing with a lower interest rate (dropping from 5% to 3.5%), the calculator will show:
Using the sample rates above (5% to 3.5%), you could save significantly on interest over the life of your loan, even after accounting for the 1% origination fee and $2,500.00 CAD in closing costs.
For a complete financial analysis, consider using these additional tools:
Why this Marketplace was Created
Frustrated by the timely process of searching for businesses and commercial properties on the market, the founders at Businesses 4 Sale created a platform to transform the business/commercial property buying and selling experience. The database compiles the most relevant information from multiple industry sources, making it easy for future business/commercial property owners and sellers to find exactly what they are looking for.