Online Loan Help |
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1. How to install LoanCalc.exe?Download LoanCalc10.zip, unzip it into a directory, double click setup.exe. Follow the installation procedure. |
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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. |
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3. Can I use LoanCalc.exe to calculate car loan?Yes. You can use LoanCalc.exe for any loan that is monthly compound. |
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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. |
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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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