[Calc Review] Help me analyze this deal
*This link comes directly from our calculators, based on information input by the member who posted.
This is the first time in a while I am stumped. I used the BRRR calculator and tried all three options my lender is offering me for a refi.
All 30 year
pre pay 5 years
Option 1
6.625% Interest
$4245 closing fee
Total Cash invested - $12563.00
Option 2
6.225% Interest
$7086.60
Total Cash Invested - $9,722.00
Option 3 (Displayed)
6.025% Interest
$9928.20 closing fee
Total Cash invested - $6880.00
Where I am getting stumped is the total amount of cash invested in the deal. If I take option 1, we leave $12563 in the deal
Option 2 we leave $9722 in the deal
Option 3 we leave $6880.00
How is it possible to pay $9928.20 which is taken out of the monies for the refi and actually have less total cash invested in the deal?
Thank you,