Realtor Refinance Calculator

This Apify actor calculates mortgage refinance scenarios across multiple locations, helping you compare refinance options and potential savings.

Features

• ✅ Calculate refinance scenarios for multiple locations
• ✅ Compare original vs refinanced loan payments
• ✅ Calculate total interest savings
• ✅ Break-even analysis
• ✅ Cash-out refinance support
• ✅ Option to include closing costs in loan
• ✅ Async processing for better performance
• ✅ Immediate data push (results available as they're fetched)

Input Parameters

The actor accepts the following input:

{
  "locations": ["New York, NY", "California", "Texas"],
  "original_loan_amount": 300000,
  "original_term": 360,
  "original_rate": 4.5,
  "origination_month": 1,
  "origination_year": 2020,
  "current_balance": 280000,
  "cash_out": 0,
  "refinance_term": 360,
  "refinance_rate": 3.5,
  "refinance_points": 1.0,
  "refinance_cost": 5000,
  "cost_included": false
}

Parameters

Parameter	Type	Required	Description
locations	array	Yes	List of locations for calculation (state/city affects taxes)
original_loan_amount	integer	Yes	Original loan amount in dollars
original_term	integer	Yes	Original loan term in months (360 = 30 years)
original_rate	number	Yes	Original interest rate as percentage (e.g., 4.5)
origination_month	integer	Yes	Month loan started (1-12)
origination_year	integer	Yes	Year loan started
current_balance	integer	Yes	Current remaining loan balance
cash_out	integer	Yes	Cash-out amount (0 if rate-and-term only)
refinance_term	integer	Yes	New loan term in months
refinance_rate	number	Yes	New interest rate as percentage
refinance_points	number	Yes	Points paid (1.0 = 1% of loan)
refinance_cost	integer	Yes	Total closing costs in dollars
cost_included	boolean	No	Include closing costs in loan amount (default: false)

Output

The actor outputs refinance analysis data in the following format:

{
  "location": "New York, NY",
  "original_loan": {
    "amount": 300000,
    "monthly_payment": 1520.06,
    "total_interest": 247221.60,
    "term_months": 360,
    "rate": 4.5
  },
  "refinanced_loan": {
    "amount": 280000,
    "monthly_payment": 1256.28,
    "total_interest": 172261.44,
    "term_months": 360,
    "rate": 3.5
  },
  "savings": {
    "monthly_payment_reduction": 263.78,
    "total_interest_saved": 74960.16,
    "break_even_months": 19,
    "lifetime_savings": 69960.16
  },
  "closing_costs": {
    "points": 2800.00,
    "other_costs": 5000.00,
    "total": 7800.00
  },
  "cash_out": 0,
  "new_loan_amount": 280000
}

Results are pushed to the dataset immediately as each location is processed.

Usage Example

Via Apify Console

1. Go to your actor's input tab
2. Enter your refinance scenario:

   {
     "locations": ["California", "New York, NY"],
     "original_loan_amount": 400000,
     "original_term": 360,
     "original_rate": 5.0,
     "origination_month": 6,
     "origination_year": 2019,
     "current_balance": 375000,
     "cash_out": 25000,
     "refinance_term": 360,
     "refinance_rate": 3.75,
     "refinance_points": 0.5,
     "refinance_cost": 6000,
     "cost_included": true
   }
   

Use Cases

Compare Refinance Across States

Calculate the same refinance scenario for multiple states to understand how local taxes and regulations affect your savings:

{
  "locations": ["California", "Texas", "Florida", "New York"],
  "original_loan_amount": 500000,
  "current_balance": 480000,
  "refinance_rate": 3.5
}

Cash-Out Refinance Analysis

Evaluate taking cash out while refinancing:

{
  "locations": ["Denver, CO"],
  "original_loan_amount": 300000,
  "current_balance": 250000,
  "cash_out": 50000,
  "refinance_rate": 4.0,
  "cost_included": true
}

Rate-and-Term Refinance

Simple rate reduction without cash-out:

{
  "locations": ["Seattle, WA"],
  "original_loan_amount": 450000,
  "current_balance": 425000,
  "cash_out": 0,
  "original_rate": 5.5,
  "refinance_rate": 3.75
}

Short-Term vs Long-Term Comparison

Compare 15-year vs 30-year refinance options:

{
  "locations": ["Austin, TX"],
  "original_term": 360,
  "refinance_term": 180,
  "refinance_rate": 3.0
}

Key Metrics Explained

• Monthly Payment Reduction: How much less you'll pay each month
• Total Interest Saved: Lifetime interest savings over the loan term
• Break-Even Months: How long until closing costs are recovered through savings
• Lifetime Savings: Total savings after subtracting all costs

Error Handling

• Missing required parameters are caught and reported
• API errors are logged with detailed messages
• Failed calculations for specific locations don't stop other locations from processing
• All parameters are validated before API calls

Tips

• Points: Each point costs 1% of loan amount but lowers interest rate
• Cost Included: Setting to true adds closing costs to loan amount
• Multiple Locations: Useful for comparing state tax implications
• Term Length: Shorter terms = higher payments but less total interest