I will create a mortgage loan amortization saver
About this Gig
· Employs standard and accelerated monthly payments to determine the respective total interests and years taken to liquidate the mortgage loan. The difference between the two interest totals and the years taken to pay off the loan - computed and displayed - represent significant savings.
· Generates two detailed mortgage loan payment schedules one based on standard monthly payments, the other on accelerated monthly payments.
· Identifies and distributes each monthly payment between principal and interest, accumulating each and showing the impact on the loan balance for the entire duration of the loan.
· Calculates the monthly installments over the tenure of the loan
· Produces 3 attention-arresting graphs, dynamically linked to the calculations, which display the two interest totals with the savings, the two periods in which the mortgage loan is paid off with the savings and the two monthly installments with the difference. Whenever the calculations change, each graph is immediately and automatically updated.
