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Calculator for mortgage payoff calculator,car loan interest rate calculator malaysia house,auto loans capital one quicksilver,demande de pret bancaire xls - PDF Review

Author: admin | Category: Calculateur De Pret Auto | Date: 20.01.2016

NOTE: This article is written for owner-occupants who would otherwise invest in the market. The reigning champion in the ring, returning to keep his heavyweight title, is the “Keep the Mortgage” fighter.
And whether or not you’re consciously aware of it, every person who holds a mortgage and invests also plays this game. If you dumped a bunch of cash into an S&P 500 index fund in 1990 and didn’t touch it for 20 years, you would have earned 9 percent annual returns over the long-haul. Earning 10 percent on Facebook stock is different than earning 10 percent in a savings account.
Earning 12 percent on a dingy rental property in a high-crime area isn’t the same as earning 12 percent on a sparkling rental property in a high-end, luxury resort. Mortgage interest is calculated as simple interest, meaning that it’s a straight-line rather than a compounding figure. But there’s a curveball: Mortgage interest is “amortized,” which means that during Year 1 of a 30-year mortgage, the vast majority of your payments are applied to the interest, rather than the principal. In Year 29, the tables are turned: You’ve repaid almost all the interest, and the bulk of your payments are now used for equity paydown.
Okay, now climb into our Time Machine, speed ahead to the year 2044, and look at our payments. Notice how the majority of payments are applied towards principal, with only $5 on interest at the end?
Thanks to inflation, you’ll repay your loan in cheaper-and-cheaper dollars over time. In 2044, your mortgage payment will still be $1,400, but thanks to inflation, that money will only cover a quick hop from New York to Chicago. For the sake of a simple example, let’s say you paid $10,000 in mortgage interest this year, and your overall tax rate is 25 percent.
This is one of the most compelling arguments I’ve ever heard for crushing your mortgage. Would you borrow a home-equity line of credit (HELOC) or a cash-out refinance, and put that money in the stock market? What’s the difference between borrowing against your home equity and putting your money in the market, rather than using that cash to build more home equity? In your example, you are investing at the same rate of your existing mortgage, 5.375% FIXED, if you use your money to pay it down.
The problem, though, is if you pour all of your extra money in your home to crush your debt you can be setting yourself up for future disappointment.
Agressively save your cash flows until you have enough to pay off your mortgage balances in full…if you want.
One other factor that weighs on the side of prepaying a mortgage rather than investing in taxable accounts that often is not mentioned in analyses of the issue is financial aid for college. I bought my house just over a year ago, and with the first (awesome!) tax return this year I started my investment plan. Coming from the pay off the mortgage early camp, it’s nice to hear an unbiased review. My wife and I chose pay off the mortgage(rental) early for a couple of reasons, that’s what my wife wants!
With all due respect, it was the business decision that almost caused you to lose your home, not the fact that you didn’t pay off the mortgage. Not using some of the money for risky, but profitable, investments also carries a risk – the risk of not receiving dividends and value increase. In a perfect and predictable world, you should get the largest possible loan and then invest the money somewhere where the interest received is greater than payed. One advantage of paying off properties sooner is that traditional lenders will only let you have 4 mortgages at a time, so having too many mortgages (aka too much debt) will limit your investing potential. The *benefit* of this is that right now, every additional principal dollar I can come up with, has a bigger effect on reducing the length of my loan period, than it will in the future, *because* my principal payment each month is so low.
Someone on a PF blog pointed this out a few months ago – if my payment each month is $1000 and $300 of that is principal, then every additional $300 I can come up with each month, takes a month off of my loan period. I’ve been diligently managing my personal finances and tracking household expenses for more than 20 years.
I can also verify with total certainty that 7% of my income in 2007 went towards groceries, and vouch that I spent $88.95 at my local K-Mart in August 2001.
Taking the time to track and analyze your income and where it’s going is a crucial element of managing your personal finances.
While not impossible, trying to track all your cash purchases can be extremely tedious and time-consuming.
Now I realize many people are initially attracted to sites like Mint, OneBudget, Adaptu, and MyBudget-Online because their automation features essentially make the job of tracking your money almost effortless. For me, the more old-school hands-on approach is the only way to go; I use my own custom-designed Excel spreadsheet because it forces me to actively manage my personal finances.
In fact, every January I give my readers a peek at some of that spreadsheet’s top-level graphs and financial breakdowns in my annual State of the Household post. Although the custom Excel spreadsheet I developed was quite simple in the beginning, it has grown in detail and complexity over the years, with pie charts and graphs that clearly show the results of our household spending and current trending patterns. Today, my spreadsheet breaks out our household expenses into 13 major categories and 50 subcategories.
If you don’t want to spend money on a spreadsheet such as Microsoft Excel, you can try the free equivalent from OpenOffice. Once you’ve effectively disciplined yourself to always spend less than you earn, tracking expenses becomes a viable alternative to budgeting that allows you to focus on optimizing your finances in order to get the most bang for your buck. I originally used excel but switched to quicken when I found a free version laying around my apartment. My Grid now has the capability to know (and tell me) when a vehicle needs an oil change, two weeks before it is due.
This may not always work perfectly when groceries are involved because not all groceries are taxed, but it is close enough for government work! The spreadsheet is great because you can easily summarize columns and link numbers from tab to tab to compare month to month. I’ve used Microsoft Money for more than a decade now for my personal finances and love it.
I bought a day planner for 99 cents and use the month pages to track all of my daily spending that is not regular bills (since January). A balloon loan or balloon mortgage payment is a payment in which you plan to pay off your auto or mortgage loan in a big chunk after a number of small regular monthly payments. Calculate the monthly payments, total interest, and the amount of the balloon payment for a simple loan using this Excel spreadsheet template. The spreadsheet includes an amortization and payment schedule suitable for car loans, business loans, and mortgage loans.
I originally created this spreadsheet to figure out a payment schedule for a car loan or auto loan.
The latest versions of the balloon loan calculator (v1.3+) take into account the fact that the regular payment and the interest are rounded to the nearest cent. This spreadsheet can be useful as a mortgage calculator, particularly for calculating the balloon payment that is made when you sell your house after a number of years. Amortization Calculator, by Bret Whissel, An excellent web-based calculator with amortization schedule.
Disclaimer: The spreadsheet and the info on this page is meant for educational purposes only.
This debt management tool allows users to manage their debts using built-in formulas that automatically calculate the total amount owed and total interest paid. The Debt Management Calculator has three tabs at the bottom of the spreadsheet: Calculator, Payment Schedule, and Chart.


An amortization schedule is a list of payments for a mortgage or loan, which shows how each payment is applied to both the principal amount and the interest. This spreadsheet-based calculator creates an amortization schedule for a fixed-rate loan, with optional extra payments.
Start by entering the total loan amount, the annual interest rate, the number of years required to repay the loan, and how frequently the payments must be made. The payment frequency can be annual, semi-annual, quarterly, bi-monthly, monthly, bi-weekly, or weekly. The Commercial Version allows you to use this spreadsheet in your loan or financial advisory business.
The header includes a place for the borrower's name and your company info: View Screenshot. The Vertex42 logo and copyright are outside the print area so that they don't show up when you print the schedule. This spreadsheet provides a more advanced way to track actual payments than the Payment Schedule included in the standard Loan Amortization Schedule. Usually, the interest rate that you enter into an amortization calculator is the nominal annual rate. Basic amortization calculators usually assume that the payment frequency matches the compounding period. Some loans in the UK use an annual interest accrual period (annual compounding) where a monthly payment is calculated by dividing the annual payment by 12. There are two scenarios in which you could end up with negative amortization in this spreadsheet (interest being added to the balance).
A loan payment schedule usually shows all payments and interest rounded to the nearest cent. When an amortization schedule includes rounding, the last payment usually has to be changed to make up the difference and bring the balance to zero. With this template, it is really quite simple to handle arbitrary extra payments (prepayments or additional payments on the principal). If you are on your last payment or the normal payment is greater than (1+rate)*balance, then pay (1+rate)*balance, otherwise make the normal payment.
Some loan calculations can be very simple, and the purpose of the simple loan calculator spreadsheet below is to demonstrate this with Excel. This loan calculator uses the PMT, PV, RATE, and NPER formulas to calculate the Payment, Loan Amount, Annual Interest, or Term Length for a fixed-rate loan.
Annual Interest Rate: This calculator assumes a fixed interest rate, and the interest is compounded each period. Payment (Per Period): This is the amount that is paid each period, including both principal and interest (PI). Use this option when you know how much you need to borrow and want to find out how the interest rate or term affects your payment.
Use this option when you know how much you can afford to pay each month and want to find out how large of a loan you might get.
For example, with a $250 monthly payment, if you got a 5-year loan with a 6% interest rate, the loan amount is calculated to be $12,931.39. It isn't as common to solve for the interest rate because you may not have any control over what your interest rate can be (other than shopping around for the best one).
Amortization Schedule - Create a loan amortization schedule and make arbitrary extra payments. Disclaimer: This loan calculator and the information on this page is for illustrative and educational purposes only. In finance, there’s a concept called “risk-adjusted return.” It’s a fancy way of saying that you can’t just stare at your returns in a vacuum – you have to look at returns within the context of risk. Notice how the bulk of the payments are applied to interest, with only a tiny sliver going to the principal?
If you can wipe out your current mortgage in a short timespan (before rates will rise), you might be better off clearing the slate so that you can qualify for another mortgage.
How many will spend the cash on steak dinners, pedicures, brand-new cars, handbags, and trips to Aruba? Imagine that I’ll give you the $2,000 to cover closing costs, if you take a massive loan against your house and shove all that money into the stock market. Would I be willing to borrow against home equity and use that money to buy more rental properties? Image, $100,000 into your debt demolition and a nicely new 5 unit apartment complex comes on the market.
In the meantime, if another property comes on the market you’ll have the ability to pay it instead. Yes, federal college aid models look at the balances in your taxable investment accounts, but don’t look at your home equity. A main risk, of course, is when stuff happens – will I hit that account to replace my car, do home maintenance, etc.? Had you had the cash available when you had your unfortunate episode (instead of putting it in a business or a home) you probably would have been in a better financial position. In rental-property investing, I have the ability to manage the costs more tightly and make the operation more efficient. After paying off my mortgage in 2 years, I have freedom that those with a mortgage do not have.
That’s because doing so uncovers hidden money leaks that help you better allocate your resources, thereby ensuring you always get the most out your paycheck. On the other hand, everything purchased on your credit and debit cards are automatically recorded and available for review online or as part of your monthly billing statements — which is why I use credit cards for as much as I possibly can. The trouble is, in the world of personal finance I believe too much automation can be a curse.
In fact, their personal budget worksheet template has been downloaded over 3.6 million times. Yes, spreadsheets are extremely powerful tools for those who know how to take advantage of all they have to offer.
As you and I both know, they can be used for a lot more things than finances; even stuff completely unrelated to math.
But my spreadsheet slices and dices the household expenses, as the saying goes, six ways to Sunday.
When you enter your totals into your Excel workshop for say groceries, do you enter the amount you paid plus the sales tax, or do you leave the tax out and put it in a separate category? With the entrants such as CollateBox the stage is set pretty big, I have been privileged to use Collatebox for managing and tracking sales n finances n am enjoying the tool. I just recently got married and was comfortable using a basic version of quicken on my laptop. To determine what that balloon payment will be, you can download the free Excel template below which calculates the regular monthly payment and balloon payment for a loan period between 1 and 360 months (30 years). The program explains different methods of managing debt, namely the "snowball" or "avalanche" methods. It does not have a built-in Help file, but provides detailed instructions about how it works to the right of the spreadsheet area.
The spreadsheet lets you choose a debt reduction strategy such as the popular debt snowball method (paying the lowest balance first). The schedule shows the remaining balance still owed after each payment is made, so you know how much you have left to pay. Then you can experiment with other payment scenarios such as making an extra payment or a balloon payment.
You can also make multiple copies of the Schedule worksheet within the same workbook, to compare different loans and scenarios. It can be used to estimate a payment schedule for a Simple Interest Loan or Simple Interest Mortgage, in which the interest accrues daily in a separate interest accrual account.


It allows you to create a payment schedule for a fixed-rate loan, with optional extra payments and an optional interest-only period. However, when creating an amortization schedule, it is the interest rate per period that you use in the calculations, labeled rate per period in the above spreadsheet. In that case, the rate per period is simply the nominal annual interest rate divided by the number of periods per year. Unlike many of our other mortgage and loan calculators, our Simple Loan Calculator uses just the basic built-in financial formulas to calculate either the payment (using the PMT formula), the interest rate (using the RATE formula), the loan amount (using the PV formula), or the number of payments (using the NPER formula). Descriptions for each of the fields are provided below, as well as examples for how to use each of the options. You can also enter your current balance, if you also adjust the Term of Loan to be the number of years left to pay off the loan.
Keep in mind that there may be other fees in addition to standard loan payment (principal+interest), such as insurance, taxes, etc. The benefit of this approach is that if you run into hard times, you can stop making the extra payments. That same $1,400 could buy you roundtrip airfare from New York City to Christchurch, New Zealand.
Who knows, you may be able to pay cash for the next investment property if you save aggressively enough.
And rental properties are much easier to understand than complicated corporate earnings statements.
No matter which option I choose, I’ll always wonder how my life might have changed if I had picked the other one. That’s because when money management tools become too user-friendly, a lot of folks have very little incentive to understand the data being made available to them. But for most folks, the basics needed to properly track expenses can be learned in less than 30 minutes. You can also take advantage of the free personal finance templates provided by Google Docs or Savvy Spreadsheets.
I’ve got about 25 different worksheets covering every year of expenses, plus summary sheets, pie charts, line graphs and other goodies. Each time I spend I just write it in the spreadsheet and I clean everything up once a week. Mainly because I didn't have the cash in hand to pay for the car in one lump sum, but I knew that I would after 6 months (because after 10 years of being a student, I was finally going to have a job). Please consult your financial advisor or lending institution before making any final financial decisions. The "snowball" method advises the user to pay the debt with the lowest balance faster, where the "avalanche" method advises the user to pay the debt with the highest interest faster. To create an amortization schedule using Excel, you can use our free amortization calculator which is able to handle the type of rounding required of an official payment schedule. Make sure to read the related blog article to learn how to pay off your loan earlier and save on interest.
When the compound period and payment period are different (as in Canadian mortgages), a more general formula is needed (see my amortization calculation article). The way to simulate this using our Amortization Schedule is by setting both the compound period and the payment frequency to annual.
The second is if you choose a compound period that is shorter than the payment period (for example, choosing a weekly compound period but making payments monthly).
Changing the Payment Amount makes more sense to me, and is the approach I use in my spreadsheets.
For fixed-rate loans, this reduces the balance and the overall interest, and can help you pay off your loan early. The downside is that if you don't have the discipline to make the extra payments, you'll end up paying more interest overall.
Now your effective return on investment is affected by the additional interest rate charged on the HELOC. If you have a child that’s applying for college soon, you have a stronger reason to put your money towards mortgage pay-off.
Then I took out a mortgage on this house when I had it paid off to buy a package deal of 4 houses which I’m slowly paying down. In addition to groceries and monthly bills, I’ve realized my expense tracking will now have to include a large array of categories that are not easy to track via quicken. So, to keep the monthly payments low at first, we set up a 3-year loan with the plan to pay the loan off completely after about 6 months. While interest-only loans may look appealing due to the low monthly payment, you still have to pay off the loan eventually. We entered some sample debts into the Creditor Information Table in the Calculator tab of the spreadsheet, and the program processed the information.
You can use the free loan amortization schedule for mortgages, auto loans, consumer loans, and business loans. Many loan and amortization calculators, especially those used for academic or illustrative purposes, do not do any rounding. So, depending on how your lender decides to handle the rounding, you may see slight differences between this spreadsheet, your specific payment schedule, or an online loan amortization calculator. But, the normal payment remains the same (except for the last payment required to bring the balance to zero - see below). You may need to change this option if you are trying to match the spreadsheet up with a schedule that you received from your lender. If you entered your current balance in the Loan Amount, then for the Term enter the number of years you have left until your loan is paid off. Rather than repaying in full, repay it to a level where it would be possible to live with, for a long time during rainy periods. I was able to buy another place for cash which has been paying off the other 2 properties I have seller financed mortgages with. We may, like you, tap our equity to buy more rental properties, once our cash reserves are gone. The strategy bar positioned below the Creditor Information Table allowed us to choose either method to manage debts, or set up custom options. If you are a small private lender, you can download the commercial version and use it to create a repayment schedule to give to the borrower. This spreadsheet rounds the monthly payment and the interest payment to the nearest cent, but it also includes an option to turn off the rounding (so that you can quickly compare the calculations to other calculators).
But, for whatever reason, I’m also more comfortable doing that than borrowing money to put in the market. I’m an account by profession and I can definitely understand the interest in details as well as the unlimited possibilities in analyzing the trends of a personal budget. Clicking on the Payment Schedule tab showed us how much the monthly payments would be, and how long it will take to pay off the total amount of debt.
I would NOT take a mortgage to invest in the stock market (even tho I have done fairly well on choosing stocks), it is just too risky, nothing in the market is a sure thing, no matter what anyone says. The Chart tab presents the user with a visual display of how his interest will decrease over time. What I like to to do is auto-pay everything weekly, so I don’t even have to think about it.



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