Comparing Mortgage Loans

I have a business mortgage of $ 5M which was taken out several years ago and the balance owing currectly is $ 1.25M at an interest rate of 7.5%.
I require $ 20M for expansion purposes which I can finance as follows:
1) $3.75 M can be advanced on the original loan
2) I have cash of $ 2M which I can deposit into the current mortgage and receive interest at 7.5.5 % until the funds are required, but will be charged a deposit penalty of 0.1% per month
3) I can borrow $ 15M from the current bank at 7.0%. A opposition bank is prepared to lend me $ 15M at 6.25%
4) I can borrow the full $ 20 from an opposition bank at 5.85%. However If I cancel the existing morgage with the current bank, there is a penalty for cancellation of the mortgage of 1.5%

I would like to set up a spreadsheet to do a comparison to determine which is the better deal.

Your assistance in doing this comparision on Excel is most appreciated

Hi.

Please find the excel file. It has the Mortage loan calculation.

Thanks.
Monika

Quote:

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Originally Posted by Flupsie

I have a business mortgage of $ 5M which was taken out several years ago and the balance owing currectly is $ 1.25M at an interest rate of 7.5%.
I require $ 20M for expansion purposes which I can finance as follows:
1) $3.75 M can be advanced on the original loan
2) I have cash of $ 2M which I can deposit into the current mortgage and receive interest at 7.5.5 % until the funds are required, but will be charged a deposit penalty of 0.1% per month
3) I can borrow $ 15M from the current bank at 7.0%. A opposition bank is prepared to lend me $ 15M at 6.25%
4) I can borrow the full $ 20 from an opposition bank at 5.85%. However If I cancel the existing morgage with the current bank, there is a penalty for cancellation of the mortgage of 1.5%

I would like to set up a spreadsheet to do a comparison to determine which is the better deal.

Your assistance in doing this comparision on Excel is most appreciated

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Quote:

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Originally Posted by Monika Dehra

Hi.

Please find the excel file. It has the Mortage loan calculation.

Thanks.
Monika

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Thanks for the help. I will be be able to adjust , by inputting the various parameters which I mentioned in my post

I merge my mortgage loans without carefully reading clause of loan documents I consolidate my loans, yet I have to pay a huge collective amount of EMI among three small EMI amount, miserable for me, recently I understand after closely reading & learning about government debt consolidation loans and hidden clauses of loan terms.