Glenn Hubbard Mortgage Refinancing Proposal Calculator




R. Glenn Hubbard and Christopher Mayer's widespread refinancing proposal will be available for anyone with a conventional mortgage loan secured by any government agency, available to over 30 million borrowers. To read their very detailed specifics visit their website at Columbia University. My calculator is a simplified one that demonstrates the potential savings and low required costs. Enter your current home value, mortgage loan balance, current monthly payment, the current market interest rate and your typical closing costs to refinance using a more standard refinancing scenario.
Current House Value $
Current Loan Amount $
Current Monthly Principal+Interest Payment $
Current Monthly Property Tax+Insurance Payment $
Current Monthly Income $
Current Market Interest Rate %
Term of New Loan Years
Typical Total Closing Costs $


You are currently spending 42.86 % of your income on your $ 1,500.00 monthly payment

Great, your current LTV is 120.0 %, which is 125% or under so it qualifies
Your current loan of $ 240,000.00 will require your monthly payment of $ 1500 which is 42.86 % of your income
Your refinanced loan of $ 240,000.00 will require your monthly payment of $ 1,345.80 which is 32.74 % of your income
Your monthly savings = $ 154.20
Closing Costs recouped in 13 months of savings with conventional costs of $ 2000,
But in only 6 months with proposed costs of $ 960.00

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