KNOWARE
Software for Education and Industry
Mortgage Calculator 1.0
A Windows® based computer program that helps you determine whether or not to refinance your home. For instance, do you realize that refinancing may lower your monthly payments, but when it comes time to sell you may have less equity in your home, thereby making less profit from the sale? And if you refinance and lower your monthly payments, you may not be saving as much as you think because the mortgage interest you pay is tax deductible.
How do you take into account all the variables of interest rates, your tax bracket, the length of the loans, the number of years you've paid on your existing loan, the length of time before you sell, closing costs, mortgage points, taxes, and insurance? Simply plug your numbers into the Mortgage Calculator program then click on Results. The Mortgage Calculator program tells you how much you will make (or lose) when you sell under your existing mortgage and a new mortgage.
You can also use the Mortgage Calculator (without assuming a new mortgage) to simply figure the amount you owe on your existing mortgage and how much money you will make when you sell.
Make as many "what if" assumptions as you want and the Mortgage Calculator always tells you how much money you will make or lose. Plus, it graphs your accumulated costs of holding the property under your existing mortgage and a new mortgage (that may include mortgage points and closing costs) so you can see where the "break even" point is.
The Mortgage Calculator has three "screens". The Input Data screen where you enter your data, the Results screen where the results are displayed, and the Graphs screen that graphs the accumulated costs of holding the property under your existing mortgage and a new mortgage. Simply enter your data then click on the Results or Graphs tab to see the results.
Mortgage Calculator with Input Data tab shown
Mortgage Calculator with Results tab shown
Mortgage Calculator with Graphs tab shown
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