Do you have a calculator that will track my prepayments?
Q: I need a good calculator program to be able to enter in a loan from 2008 where I paid different amounts of extra principal along the way and would like to be able to see the amortization schedule. I want to rerun it every month as I pay different amounts of extra principal. I don't mind keying in everything, as long as it's only one time per transaction. Any suggestions?
A: Our downloadable (windows-based) Homebuyer's Calculator Suite will do irregular amortization, but as you note, it is a slow process.
You can download the calculator and install it on a local machine. Run the calculator, and refer to our tips page to find out how to input the irregular prepayments you describe.
However, the mortgage calculator does not have a "save" feature, so you would need to re-do all the calculations each time you make an additional prepayment.
Microsoft Excel does have a mortgage payment/amortization function, and what you want can be built for you, but you'll need someone who is adept at Excel. Alternately, you might search on the Internet to see if someone has a shareware/freeware version you can obtain.
More help from HSH.com
HSH.com on the latest move by the Federal ReserveThe Federal Reserve concluded a meeting today with a quarter-point change in the federal funds rate, but no changes to other monetary policy tools.
10 metros where a home costs about $1,000/monthHSH.com identifies 10 metro areas where you can afford the principal, interest, taxes and insurance payments on a median-priced home for only around $1,000 per month.
Home price recovery index: Which metros have improved the most, least?Have home prices in your area fully recovered from the declines suffered during the Great Recession, or are they still struggling to make it back to the peak it reached before the crisis?
The salary you must earn to buy a home in 27 metrosHere’s how much salary you would need to earn in order to afford the median-priced home in your metro area.
Can I separate tax and insurance payments from my mortgage payment?It may or may not be possible for you to take on the responsibility