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Added Payment Amortization +
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Version
1.2
This program is a 16 bit version of an added payment
schedule that demonstrates the effect of added payments
to reduce the term of a loan and also reduce the amount
of interest paid. It will run under Win 95, 98, Me, XP
& 2000. By making additional principal payments when
paying your monthly mortgage, you will reduce the term
of the loan and gain equity in your home at a faster
pace. If you decide to utilize this method of payment,
be sure that the bank or other lending institution
credits the amount against the principal of the loan
each month. Printouts are professional looking and may
be used by financial planners as they contain a
"prepared by:" area and may be useful for advising a
client on this method of mortgage payment by
demonstrating to them the effect this type of payment
has on the term of the loan as well as the total amount
of interest paid.
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