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Mortgage
Advisor is a powerful yet easy to use program that allows you
to calculate and analyze your mortgage.
One of Mortgage
Advisor's best features is its ability to demonstrate the
effect of additional payments on your mortgage. This feature
on your own mortgage will show you how even a small additional
payment significantly reduce your mortgage period and save you
a fortune in interest.
Mortgage Advisor
also contains a detailed schedule of your mortgage over time.
This allows you to see how each payment affects your mortgage.
Mortgage
Advisor Other features include:
- A graph
showing the breakdown in cost of your mortgage.
- A mortgage
grid, showing interest rates/amount around your mortgage so
you can see the difference in mortgage payments.
- Ability to
perform "What If?" calculations on your mortgage. This means
that you can calculate the mortgage amount, interest rate,
period or repayment.
- 8
different payment and compounding periods
Examples of
how you can use Mortgage Advisor:
Scenario 1:
If you're thinking of buying a house but you don't know how
much you can afford to borrow just use the "What if?"
calculator. For instance, you might know that the bank charges
10% interest on a 20 year mortgage. You also know that you can
afford a $500 monthly payment. Enter these figures in Mortgage
Advisor and you'll see that you can afford a $51,812 mortgage.
Scenario 2:
You have a $50,000 mortgage that you're paying back over 20
years at 10% interest. This means you're paying $482.52 a
month. However if you know that you can afford to pay an extra
$50 per month Mortgage Advisor will demonstrate that you can
pay off your mortgage in just over 15 years, and at the same
time save almost $18,000 in interest.
Mortgage Advisor runs on Windows 95/98/NT/2000/ME/XP |
