Smart Financial Moves for Dental Practice Owners
Dr. Garcia was refinancing her dental practice mortgage and unsure if paying discount points was financially worthwhile. She needed a clear understanding of the break-even point and the overall impact on her cash flow, considering her existing debt and future retirement goals. She also needed to understand how allocating more to mortgage points might impact her immediate business needs.
Using the Mortgage Points Calculator, we determined that paying $15,000 in points would reduce her interest rate enough to save $35,000 over the life of the loan, breaking even in 4 years. This analysis provided Dr. Garcia with the confidence to make an informed decision and free up cash flow for practice improvements and college savings.
The Mortgage Points Calculator allowed for precise input of loan amount, interest rate with and without points, the cost of points, and loan term, providing an easy-to-understand break-even analysis. We cross-referenced this with her Debt Service Coverage Ratio using the Debt Service Coverage Ratio Calculator to ensure affordability.
$35,000 in interest savings over the life of the loan.
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