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15 vs 30 Year Mortgage +
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Version
1.2
Program Description: 15 VS 30 YEAR MORTGAGE
This program is a 16 bit version that allows you to
compare a 15 year
mortgage with one that has a duration of 30 years. It
will run under
Win 95, 98, Me, NT4, XP, & 2000. If you itemize
deductions, then you know the
IRS allows you to deduct mortgage interest. This
subsidizing of a
mortgage means you can receive credit for the increased
interest you
pay on a 30 year loan. The basic premise of this
evaluation is that if
the buyer could afford the monthly payments for the
shorter term (and
would invest the difference in monthly payments
according to the
instructions), at certain rates of return on the
investment it would be
more advantageous to obtain the 30 year mortgage.
Printouts are
professional looking and may be used by financial
planners as they
contain a "prepared by:" area. This program may also be
useful to
lending institutions in advising a client on the term
of a mortgage.
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