| Refinancing your mortgage analysis/screen 2> |
This is a 4-screen calculation and reporting section within Mortgage 2000. Screen 1 the user creates loan address information, current mortgage data, original loan amount, date of loan, interest rate and current estimated value. Screen automatically calculates the cumulative rate of price change since purchase. Move to screen 2 (this screen) and software auto enters the current loan data and auto calculates the refinance balance this month. Enter alternative refinance loan packages data and create a database of penalty costs (if any), new mortgage expenses, costs (added to loan balance) and new cash to raise. Screen 3 (not shown) auto calculates the interest and monthly repayment cost difference between the current mortgage and the three new loan options, and calculates the required new loan amount incorporating these new costs and new cash raised.