| This program is an added payment schedule that demonstrates the effect of addding payments at different times to reduce the term of a loan and also reduce the amount of interest paid. It will run underWin9x,winNT4, Win 2000, Me &XP. 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 institutioncredits 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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