Tools

Refinance calculator

See what a refinance could look like under conventional, SBA and CMBS non-recourse structures, and whether it saves money or costs more.

Your existing loan

Current loan balance The amount you still owe on your current loan. It is on your most recent mortgage statement.

Current interest rate (%) The interest rate on your current loan.

Original amortization (years) The payment schedule the loan started with, usually 20, 25 or 30 years. It is on your loan documents.

Years already paid How many years you have been making payments. We subtract this from the original schedule to get the years left.

Current monthly payment (optional) Your monthly principal and interest payment from your statement. If you enter it, we use it instead of our estimate.

Years until the loan matures When the current loan comes due (its maturity or balloon), even if the payment schedule runs longer.

Prepayment penalty What your current lender charges to pay the loan off early. Check the note or ask the lender; it may be a percentage, a step-down or a yield-maintenance formula.

Penalty (% of balance)

The property

Current property value Your best estimate of what the property would sell for today.

Net operating income, annual Net operating income: a year of rent or room revenue minus operating expenses, before loan payments and before depreciation.

Goal and horizon

Compare over (years) How long you expect to keep the property or the new loan. The comparison adds up costs over this period.

Scenario

Adjust scenario assumptions

Rate (%) The new loan's interest rate. Defaults come from live benchmarks plus a typical spread.

Amortization (yrs) Payment schedule in years for the new loan.

Max LTV (%) The most the program will lend as a share of value.

Min DSCR (x) The minimum coverage the program requires.

Fees (% of loan) Lender and third-party fees as a percentage of the new loan.

Fixed costs ($) Flat closing costs: appraisal, legal, title and similar.

Changing a value overrides the default for the selected scenario.

Conventional

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New monthly payment-

Monthly change-

Cash to you at closing-

Net benefit over horizon-

All three scenarios

Scenario	Rate	New loan	Payment	Cash to you	DSCR	Upfront cost	Break-even	Net over horizon

How to read the results

Net benefit compares total cash out of pocket over the horizon: payments on each loan, the balance still owed at the end, upfront costs (fees and any prepayment penalty) and any cash you receive at closing. A positive number means the refinance is estimated to leave you better off over that period; a negative number means it costs more.

Default assumptions use today's benchmarks: conventional at the 5-year Treasury plus 2.50%, SBA at the prime rate plus 2.00% (variable; hotels often lower) and CMBS at the 10-year Treasury plus 2.50%. Leverage and coverage limits are typical program levels. Every lender and property is different.

Illustrative estimates only, based on your inputs and the stated assumptions. Not a quote, commitment or offer of financing. SBA eligibility, fees and terms are set by SBA rules and the participating lender. CMBS loans typically carry defeasance or yield maintenance and non-recourse carve-out guarantees. Talk to us for an actual evaluation.

Refinance calculator

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All three scenarios

How to read the results

Tell us about your deal.