June 13, 2004
New Website Design Completed!
Our new site is now ready.
June 13, 2004
Secure EZ Online Loan Application Ready!
Try out our new secure online loan application 24 hours a day, 7 days a week! To begin please Click Here.
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Loan Comparison/Refinancing Calculator
This calculator allows you to do some interesting comparison of loans.
You can compare laons with different balances, rates and payments and see
how much interest you save as the loan progresses. This is good for comparing
loans for a refinance to see how long it will take to recoup closing costs.
For each loan you may calculate the standard 30 and 15 year payments for any loan. For an existing loan first put your original loan amount and rate in the first two fields for loan #1, and then hit
which term you specified in your original loan. You can then go back and change the balance to your current balance or any amount you want.
To compare the two loans the column which makes you the most money,
either refinancing and compounding your monthly savings (ATCCS), or
not refinancing and taking the closing costs and investing those (CCC). The
point when ATCCS surpasses CCC is the point at which the refinancing starts
saving you real money.
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