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BENEFITS OF THIS EXCEL DOCUMENT
- Easily compare multiple mortgage scenarios.
- Evaluate bottom line impact of multiple variables in mortgage financing.
- Demonstrate to students/clients the value of good credit and extra payments to mortgage principal.
EXCEL DESCRIPTION
This document allows you to quickly compare up to five different mortgage scenarios including different interest rates, loan terms or principal amounts. You can change the tax, PMI and insurance rates. You can add extra payments to the principal and see how much earlier you can pay off your loan. Summarized for easy comparison or you can expand to see the detailed monthly amortization schedule.
Perfect for evaluating various real estate deals or options for how to finance the deals. Ideal for investment properties or your principal residence. I've used this to teach classes to high school students the importance of maintaining a good credit score and making additional payments to their principal balance.
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Source: Mortgage Scenarios w/ Amortization Tables Excel (XLSX) Spreadsheet, Droach
