Mortgage version 1.3 is an English language program to help evaluate fixed-interest-rate mortgage loans. Mortgage will find the loan principal, interest rate, duration or payment when given the other three.
You can do what-ifs, such as, "What will my payment be if I borrow $100,000 at 7% for 30 years?" or "How much can I borrow at 6.25% for 25 years if I can afford $1,100 monthly payments?" You can then change one or more of the loan numbers and find a new value for one of the other numbers.
Mortgage will show you the total amount paid and the total interest paid for a loan.
With a set of loan numbers, Mortgage can show a repayment schedule, with the amount paid toward principal and interest for each month, as well as copy the schedule to the system clipboard, or print it.
Mortgage is not suitable for car loans. Other loans are calculated in a different manner that Mortgage does not support.
Mortgage does not include escrow payments or closing costs in its calculations.
Numbers provided by Mortgage may not agree exactly to the penny with those of an actual loan. Because Mortgage is not warranted to be free of all defects, you must consult a lender before making any final decisions about obtaining a loan.
Mortgage requires Microsoft's free .NET Framework version 2.0. Your computer may already have it. If not, Mortgage's setup program will offer to download it from Microsoft. The Framework is a 22.4 MB download.
Mortgage is Copyright © 2008-2010 by Ron Charlton. Mortgage may be distributed per its freeware license.
Copyright © 2008-2010 by Ron Charlton