Save Money And More With Our
Fixed-Rate Amortization Schedule Tool
Purpose Of The Tool
Use the "Fixed Rate Amortization Schedule" tool to while you're looking for that amazing new home.
- Use this app while you're starting your search. See how much your monthly payment will be for a mortgage given the prevailing interest rate in your area.
- Take your tablet with you while you're out looking for the home of your dreams. When you find one you like, you can snap pictures of it and email them to your significant other--just to show her/him what you've found. And while you're at it, you can see how much the monthly (interest and principle) payment will be and email that to him/her as well.
- Once you've found that dream home and now how much it's going to cost, you can shop the interest rate with several lenders in the area. It's easy to use this app to see how much a quarter-percent cut in the interest rate will save you. (Betcha you'll be surprised!) And don't forget to compare different times as you do this--most lenders won't mention less than a 30-year mortgage, but they can loan you the money for whatever time frame you specify and, while it will increase your monthly payment, it will also save you a great deal of money over the life of the loan AND get you out from under the mortgage more quickly. This application will let you make these comparisons in minutes so you can know what's best for you rather than for the lender.
- Finally, take a few minutes and use the application to run a few early payoff scenarios. Can you pay a little extra each month? How about your annual bonus (if there is one--could you use part of that to make an extra payment?) Play "what if I" scenarios for a few minutes and see how you can, literally, save tens of thousands of dollars.
loan, see what it will cost you, and see how to pay it off to your best advantage.
Because the tool allows you to play "what if" games with paying the loan early, it can show you how to save a great deal of money on a home mortgage.
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