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When you consider refinancing your home mortgage loan, you
have to evaluate various refinance options.
Let’s consider the following examples: Example A You have made 36 monthly payments for a home mortgage loan
($100,000, 15years, 6.5%). You have
been offered a refinance option. The new interest rate is 5.0% and the cost
involved in the refinance is $3,000. Is
this profitable? Note that the answer depends on the 6 numbers presented in this example. Example B Several options are offered. Are they profitable? If any of these options were profitable, which one would be the best for me? How long would it take to recover the cost associated with the refinance? LoanCalc 1.0 is intended to provide answers to these
questions. This program can
be used to analyze a mortgage loan or calculate the monthly payment for an auto
loan. Calculation results are
resented in charts or tables. Screen shots
Availability Freely available for non-commercial use. Click here (Setup_LoanCalc_10.exe) to download this program.
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Copyright © 2004 EChem Software
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