Most people are not familiar with process of applying for a loan and paying a mortgage. Our application makes the process easy to understand and most importantly guides user into selecting the best mortgage scenario avoiding high monthly payment and possible default.
Guide to mortgage calculation provides step-by-step instructions to model scenarios such as: Fixed rate, variable rate and refinance. Key terms and concepts are explained with emphasis on giving advantage to the user. Detailed description of the formula used for selected scenario is provided. User can compare results of each strategy by examining estimated monthly payments and paymentís break down into annul amounts paid for interest, principal, tax and private mortgage insurance.
First time buyers will learn details of the mortgage calculation and terminology. Seasoned buyers may discover an advantage that has been overlooked in their previous mortgage calculation experience.
|Version #||Application||User Guide|
Ultra Mortgage v2.1