Online Loan Help


  1. How to I install LoanCalc.exe?
  2. Can I print the result?
  3. Can I use LoanCalc to calculate car loan?
  4. Can I use mortcal to calculate baloon mortgage?
  5. Should I buy points for my mortgage?

1. How to install LoanCalc.exe?

Download LoanCalc10.zip, unzip it into a directory, double click setup.exe. Follow the installation procedure.

 

2. Can I print the result?

  No. The current version of LoanCalc.exe does not support print. However, you can export the result to a text file and open it inside spreadsheet such as Microsoft Excel, and print it there.

 

3. Can I use LoanCalc.exe to calculate car loan?

  Yes. You can use LoanCalc.exe for any loan that is monthly compound.

 

4. Can I use LoanCalc to calculate baloon mortgage?

 Yes. You can create a new loan. Perform a rate modification on the date when the apr is balooned.

 

5. Should I buy points for my mortgage?

  The answer is depends. Assume you want to borrow $200,000. Your option is 5.5% for 15 years or 5% with 2 points for 15 years. Using LoanCalc.exe you can create two mortgage. The first one is $200,000 with 5.5% for 15 years, and the second one is $200,000 + $4,000 with 5% for 15 years. The total payment for the first mortgage is $294,150, and the total payment for the second mortgage is $290,379. Apparently, it is worth to buy 2 points.


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