A feature I'd love to see is should I refinance or not.
I've currently got a convoluted system of spreadsheets which I have to update every time I want to recheck against current rates. I'd basically like it to tell me in which scenarios it would make sense to refinance. I input things like amount of principle still outstanding, my current rate and term, how far I am into that loan, when I plan on selling, what the refi rate/term options are. The outputs I get are total cost (in fees and interest) by the prospective sale date, and total equity by the prospective sale date.
It is not necessarily in a lenders interest to give borrowers this information, since borrowers are trying to optimize based on paying the least amount possible.
we're building out our refi functionality now. would be great to have you as a test user? we're going to have analysis and data not available anywhere else. info at smartasset dot com.
I've currently got a convoluted system of spreadsheets which I have to update every time I want to recheck against current rates. I'd basically like it to tell me in which scenarios it would make sense to refinance. I input things like amount of principle still outstanding, my current rate and term, how far I am into that loan, when I plan on selling, what the refi rate/term options are. The outputs I get are total cost (in fees and interest) by the prospective sale date, and total equity by the prospective sale date.
It is not necessarily in a lenders interest to give borrowers this information, since borrowers are trying to optimize based on paying the least amount possible.