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CRA Refinancing

Explore the latest refinancing options with Branch Banking and Trust Company (BB&T) for your CRA loan. With an outstanding loan balance of $3,360,000, the current interest rate stands at 4.34%, requiring annual payments of approximately $365,000, maturing on December 1, 2024. By refinancing to a new interest rate of just 2.29%, you can save about $37,000 annually, potentially totaling $444,000 over the life of the loan. This refinancing can also update your total loan to $5,600,000 with new proceeds while adjusting payment structures for favorable terms.

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CRA Refinancing

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  1. CRA Refinancing CRA Refinancing

  2. Current CRA LoanBranch Banking and Trust Company (BB&T) • Loan Balance $3,360,000 • Interest Rate 4.34% • Average Annual Payment $365,000 • Maturity Date December 1, 2024 CRA Refinancing

  3. RefinancingBranch Banking and Trust Company (BB&T) • Loan Balance $3,360,000 • Interest Rate 2.29% • Approximate Annual Savings $37,000 • Estimated Savings Over Life of Loan $444,000 • Estimated PV Savings Over Life of Loan $384,000 CRA Refinancing

  4. New LoanBranch Banking and Trust Company (BB&T) • Remaining Loan Balance $3,360,000 • New Monies $2,240,000 • Total Loan Amount $5,600,000 • Interest Rate 2.29% • Average Annual Payment $526,000 • Maturity Date October 1, 2024 • FY 2013 Budgeted Tax Revenues $1,335,700 CRA Refinancing

  5. Questions? CRA Refinancing

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