Did you know that ?
The main tab is where you input
your general loan information.
Just type the property price then hit Enter on the keyboard or use the mouse to move to next field.
In the Down type the percentage or the amount of your down payment then hit Enter.
After you input the Annual Percentage Rate and the No of Monthly Payments your loan will be calculated automatically, and the rest of the tabs will be enabled.
Optionally type the Annual Tax and the Annual Insurance and they will be calculated automatically.
Use mm/dd/yy format when you type the First Payment Date.
The icons on the right will help you manage your loan files and provide you with information.
Three different amortization schedule type are available in this tab.
After generating a schedule use the Total drop down list to select a specific year schedule or select all to create sums in the red box.
This is where you input and manage your payment information for record keeping , extra principal calculations, and for yearly summation.
Click on Make to enter data for a new payment, youll be prompted with a dialog with Date, Escrow, and Extra Principal input boxes, the default for the date is the next due payment date, and the default for the escrow is calculated, the loan payment is automatically calculated and is driven from the main tab, Enter your information then hit OK
Use delete last to delete last payment entry or delete all to clear all payments entries.To edit a payment, double click on its row in the grid.
Use the Total drop down list to select a specific year, or select all to create sums in the green box.
Extra Principal Quote tab
This is where you analyze and plan
for extra principal payment, and monitor your loan term and
reduction after making a series of extra payments.
The comparison table display the loan term and interest before and after extra principal payments, and the
reduction caused by them.
Sets the extra principal amount for a specific payment, or for every payment if Every payment option is
checked, or for every remaining payment if both Every payment option and Include actual payments
data check box are checked.
payments data check box
If your loan contain payments data with extra principal paid, when checked, past payments data is
incorporated into the equation.
If this box is checked and the extra principal amount is set to 0 then you get the results of your past extra
principal payments made your current loan status.
This box should always be checked when planing for next payments or when checking your loan status,
and it is provided only for analyzing flexibility purpose.
To analyze leave it unchecked then apply different values to the extra principal amount and payment
number while observing the comparison table, you can also experiment with Every payment Option.
One payment /
Every payment Option
One payment applies the extra principal amount to a single payment and allows you to select that
payment number by using the up/down spin buttons or typing in the number.
Note: when Include actual payments data is checked, the payment number is set to the next due
payment by default, and since you cant apply extra principal payment to payments already made, the
minimum payment number is your next payment, this is the setting you would use when you plan for your
Every payment applies the same extra principal
amount to every payment until the loan is paid off.
Note: when Include actual payments data is checked this option becomes Every Remaining payment,
and the same extra principal amount is applied to every unpaid payment until the loan is paid off.
© 2008 Tony Abajian