| |
Option 1
30 year fixed Rate |
Option 2
30 year fixed Rate IO |
|
|
% |
% |
|
|
$1,498.88 |
$1,250.00 |
|
IO Option Savings |
N/A |
** $248.88 |
|
Increased 401k contrib |
$0 |
** $331.84 |
|
Company Match |
$0 |
$165.92 |
|
Total monthly 401k invest |
$0 |
$497.75 |
|
Home Value |
$335,979 |
$335,979 |
|
Mortgage Balance |
$209,214 |
$250,000 |
|
Accumulated Home Equity |
$126,765 |
$85,979 |
|
Increased 401k Balance |
$0 |
$91,062 |
| Total Wealth Effect |
$126,765 |
$177,041 |
** Greater than cash flow savings as the 401k contrib is pretax.
|
