|
Length
of new loan |
| Shorter Loan |
Same Length Loan |
Longer Loan |
New
Loan
cost
(APR) |
Cheaper Loan
(Lower APR) |
Smaller or bigger
monthly paymentsSmallest
total repayment |
Smaller
monthly payments
Smaller
total repayment |
Lowest
monthly paymentsSmaller or Bigger
total repayment |
Same Cost
Loan
(Same APR) |
Bigger
monthly paymentsSmaller
total repayment |
No change |
Smaller
monthly paymentsBigger
total repayment |
More
expensive Loan
(Higher APR) |
Biggest
monthly paymentsSmaller or Bigger
total repayment |
Bigger
monthly payments
Bigger
total repayment |
Smaller or Bigger
monthly payments
Biggest
total repayment |
