Does anyone have an interest only payement calculator they can share. I’d like to run some comparisons and see where the advantage curve turns.
Thanks,
Greg
ryman couldnt be more correct…dinkytown is THE site of sites for all calculators, especially mortgage…also check out their comparison for 15 vs 30 as well as their points calculator to illustrate to the borrower how fast they can build equity and save in interest and taxes by doing a shorter term mortgage and or paying points. Man, it has helped me sell a lot of loans. Make sure when using the points calculator or mortgage comparison calculator to click on “view report” for complete itemized findings as well as an amortization schedule, and share those findings with your applicant/borrower!
Dinkytown is great. The only thing better is Mortgage Coach… but then when comparing the $700 to the $0 for Dinkytown… “If it’s free, it’s me!”