Consumption and Real Estate
Is there available software that will help figure negative amortization would be reached in a mortgage?
Question : Is there available software that will help figure negative amortization would be reached in a mortgage?
I received a re-fi mailer that offered a .25%/7.64% interest only 30 yr ARM with fixed payments for the first 10 years or until NegAm ceiling is reached. I would like to be able to figure when the NegAm would be achieved and see if this is ridiculous or what. Any help on calculating would be appreciated.
mortgage software
Best answer:
Answer by phaig93
My husband, the mortgage underwriter, says you could do a search online for “Negative Amortization” and you should be able to find a program. Good luck!
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#2 written by newmexicorealestateforms 1 year ago
Be careful with those advertisements.
Here is some calculators we use there are many available on this site that you can use.
Mortgage Calculators – Includes finding if you will qualify for a mortgage:
http://www.mortgage-x.com/calculators/Pre-Qualifier.htm
Buena Suerte -
#3 written by Morpheus 1 year ago
THere are many web sites that run this calculation for you. Just google for “amortization calculation” I found one here:
http://ray.met.fsu.edu/~bret/amortize.html - Comment Feed for this Post
you can use the resources the other people recommend before me, but the most important thing is to make sure how much max. ceiling for neg amort. is and what is your margin (interest rate added to your index they use for your loan),because remember interest rate change every month with this tape of mortgages and calculation how much neg amort. you will have is hard. in my opinion this tape of mortgages is safe to keep for no more then 3 years and try to get this mortgage with no prepayment penalty so when the market will be worst – you can refinance. i love this type of mortgages. have them for over 8 years- different properties.