|
15vs30 Year Amortization+
-
Version
1.2
15vs30 Year Amortization+ 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 Win3.1. 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.
|