Refinance calculators consolidating loans

Prime Rate is an annual variable rate of interest announced by Royal Bank of Canada from time to time as its Prime Rate.The above calculations assume that for each loan, the debt is repaid in equal monthly installments for the specified term with no balance left at the end of the term.Then include closing costs as either percentage points or a dollar amount.Finish up by indicating whether or not you would like to finance these closing costs.Based on the details you’ve entered, it appears that you’ll be debt free sooner with your current payment plan.But, if you are looking to have one convenient payment each month or to improve your monthly cash flow while still working toward being debt free, an RBC credit specialist can help. Based on the details you’ve entered, it appears that you’ll be debt free sooner with your current payment plan.

When you’re ready to accept your loan, you can choose to refinance less than the requested amount (as long as it’s above ,000) or up to 105% of your approved amount.If so, this calculator will help you decide what course of action is most advantageous to your bottom line.First enter the information pertaining to your first mortgage, including the principal balance, monthly payment amount, and the current interest rate attached to the loan.Click on CALCULATE and you’ll get a breakdown of the costs associated with your new mortgage compared with your current mortgage or mortgages.Best of all, you’ll see an estimate of what you could save with a lower interest rate.