MaxMortgage Free Download
MaxMortgage Free Download.
How much house can you afford? You might be pleasantly surprised.
This program is a loan qualifier for either a fixed rate or a variable rate mortgage.
This program uses the same "ratios" method used by your "friendly banker" to determine how large either a fixed rate or variable rate mortgage you can expect approval for.
Principal, interest, homeowners' insurance, and taxes (PITI) are included in the analysis. Printouts are professional looking and may be used by financial planners as the program contains a "prepared by:" area.
The program may also be useful to small mortgage lenders to pre-qualify potential borrowers.
For the potential home purchaser, the program quickly shows them how much house they can afford based on income, and existing indebtedness.
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This program is a standard loan payment schedule that may be used for any type loan where simple interest is the type used. It is not limited to mortgage loans. The amount of interest paid during any calendar year is also calculated.
This program is a balloon payment schedule that demonstrates the effect of reducing initial payments and either making a large payment at the end of the balloon period or refinancing the loan.
This program is a mortgage refinancing evaluation. When current mortgage interest rates are 2 or more percentage points below your existing rate, it may be advisable to refinance.This analysis shows whether it is to your advantage to refinance.
This program is arranged in a typical lending institution format. Although it may not be in the format required by any given institution, it provides all the information necessary for completing an actual financial statement.
This program is an analysis of the effect of savings. This program demonstrates the effect of interest compounding for monthly, annual, and one-time deposits for any rate of return.