Rene’s clients had a mortgage at 3.49% with balance of $400,000, credit cards totaling $30,000, and a $10,000 line of credit. Rene’s team was able to refinance their mortgage, dropping their monthly payments by $1,228!
Before
| Debt | Details | Monthly Payment |
|---|---|---|
| Mortgage | $400,000 | $2,000 |
| Credit Cards | $30,000 | $900 |
| Line of Credit | $10,000 | $300 |
| Total | $440,000 | $3,200 |
After
| Debt | Details | Monthly Payment |
|---|---|---|
| Mortgage | $440,000 | $1,972* |
Rene saved his clients $1,228 per month!
*Based on a mortgage of $440,000 with a 25 year amortization at a rate of 2.49% on a 5 year term APR is 2.49%