AmortizeIT!, The Complete Loan Solution 3.2f

AmortizeIT!, The Complete Loan Solution 3.2f  is a powerful, intelligent software which includes ten easy-to-use calculators in one program:

1. Accelerated Payment Calculator
2. Affordable House Calculator
3. Amortization Schedule (Flexible)
4. Balloon Payment Calculator
5. Compound & Simple Interest & Calendar Math calculator
6. Lease v. Buy Advisor
7. Loan calculator
8. Loan Comparison Advisor
9. Remaining Balance Calculator
10. Refinance Advisor

The program is easy to use. Just start it up, select a calculator and answer the questions by filling in the-blanks. Click on the [CALC] button and you'll have an instant answer to your question. The results from any calculator can be copied to the clipboard for inclusion in another program including email or printed to any printer. Additionally, you can run multiple instances of a calculator in order to make fast side-by-side comparisons.

It also included an easy uninstall option in the event that you try this program and decide that it is not to your liking. AmortizeIT! fully supports Windows Add/Remove program feature.

Major Features:

1. Accelerated Payment Calculator: Calculate the effect of making extra principal payments. A very small extra principal payment made along with a regular payment can save the borrower a large amount of interest over the life of a loan, particularly, if those payments are started when the loan is relatively new.
2. Affordable House Calculator: Calculate how much housing you can afford and the percentage of the total cost you have available for the down payment. The calculator considers your income as well as the:

• Percentage of income you are willing to devote to housing
• The money you have available for a deposit
• Taxes
• Insurance and maintenance.

3. Amortization Schedule (Flexible):  You can adjust any attribute that you desire. For example you can adjust rates (to create ARMs), change payment amounts or skip payments. You can print or copy an amortization schedule for nearly any mortgage or loan that you can imagine. The flexible amortization schedule also includes support for these features :

• Irregular length first periods with user selectable methods as to how interest will be charged
• Supports exact day payments. User can adjust the schedule and record a payment for any payment date
• 10 payment & compounding frequencies: Daily, Weekly, Biweekly, Twice Monthly, Every 4 Weeks, Monthly, Bimonthly, Quarterly, Semiannually & Annually
• 6 different loan types: Normal, Canadian, Fixed Principal, Rule-of-78s, Interest Only & No Interest
• 6 interest calculation methods: Ordinary, Ordinary/360, Ordinary/365, Actual/360, Actual/365 & Actual/Actual
• Three different chart types visually show the relationship of interest to principal. (Charts can be printed.)
• Easily design a schedule that results with a specific desired balloon payment or for which the balloon is due on a particular period.
• Set payment to any amount, make extra payments and/or skip payments
• Produce schedules ending with a balloon payment
• Adjust interest rates, create adjustable rate mortgages (ARM).
• Solve for any one of the 4 main loan variables: Amount, term, rate or payment or user can provide all 4 values.
• Prepare and print a Regulation Z compliant APR disclosure statement and detail work sheet
• Loan Summary Calculator: calculate an exact day balance, interest before and after extra payments and income taxes saved due to interest paid
• Calculate the future value of extra payments (Is it better to pay off the mortgage with extra payments or invest the money in an alternative investment?)
• Very extensive on line help with many example loans included
• Double click on any payment and get running details for that payment
• Save all loan data to a single user or multi user database
• Copy all loan details to the Window's clipboard for later pasting into a word processor, spreadsheet or email message
• Single click on any year tab to display the schedule for that year
• Display annual and running totals by user selectable fiscal year
• Points paid on origination date, with first payment or amortized
• Two user selectable, automatic loan acceleration techniques: 1) Biweekly payment equal to 1/2 of a regular monthly payment; 2) automatic prepaid next period's principal amount
• Loans may either charge interest-on-interest or not (US Rule compliant)
• User adjustable options for handling payments due on weekend & last period rounding
• Set any number of initial periods to be interest only
• Track loan application fees (one time fees)
• And as always, simple, fast and easy-to-use.

This calculator gives you the power to easily design or amortize just about any loan or mortgage you might desire. It makes financial planning easy, and it allows you to perform any number of what-if calculations. Auditors can also use it for auditing lender's statements.

4. Balloon Payment Calculator: This is a very fast, easy-to-use and flexible loan calculator which also handles balloon payments. The Balloon Payment Calculator will calculate what the regular payment amount needs to be to result in a given balloon for a particular payment number. Solve for any one of five unknowns:

• Regular periodic payment amount
• Amount of loan
• Final balloon payment amount
• Period balloon payment is due
• Interest rate

4. Compound & Simple Interest & Calendar Math calculator:

This is deceptive in its simplicity. Not that it is difficult to use, rather it is capable of doing more than what may initially be apparent. With this calculator, it is possible to calculate the interest between any two dates or for any number of days (well if the number of days don't exceed 32,767!) It supports 2 exact day methods of interest calculations (Actual Days/360 or Actual Days/365). Additionally, the calculator is very useful for performing calendar math

It is very easy to quickly calculate many different scenarios. Suppose that another institution is using the Actual/360 method for a rate basis but is offering 7.625% (7 5/8ths) compounded daily. Normally, a 360 day method will result in a bit higher of a return, on the other hand, 7.625% is lower than 7.75%. Use this calculator to see which yields the most interest.

The Compound & Simple Interest Calculator is capable of calculating the Annual Percentage Yield in compliance with The Truth-in-Savings Act. (The Federal Reserve's Regulation DD.) To be in compliance, you must set the rate basis to Exact/365. See Truth-In-Savings for additional important details.

The Compound & Simple Interest Calculator will not only allow you to audit the amount of interest you are receiving from a savings plan, you can also use it to audit the interest that you are being charged as you pay off a loan.

5. Lease v. Buy Advisor:

Analyzing the economic consequences of leasing vs. buying. A lease is a contract. The user of an asset "borrows" the asset for a specified period of time, at which point the user of the asset normally decides if they will buy the item or give it back to the owner. The price for which the asset can be purchase at the end of the lease is called the option price.

This advisor analyzes both the lease and finance cash flows over the life of the lease. That is, if the lease is for 33 months, both the lease and the buy cash flows will be looked at for 33 months. This is done to put the two on equal footing. (The terms of the financing maybe something other than the term of the lease. It is just that for the purpose of making a comparison, a snap shot is taken at the end of the leasing period.

At the end of the lease, the asset is usually returned to its owner. Because of this, both the lease scenario and buy scenario should be such that the asset is either given up, or sold at the end of the lease term. Let's assume the lease is for 33 months and at the end of the lease the asset is worth $8,500. The lease and buy scenarios at the end of the term would be as follows:

6. Loan calculator:

Can quickly perform "what-if" analysis for any loan scenario. There are four values that will typically concern the user. They are:

• The amount of the loan
• The total periods or term of the loan
• The annual rate
• The payment amount.

It is your job to provide any three of the values and the loan calculator will solve for the fourth one. You may display up to five loan calculators on the screen at one time. Displaying multiple copies of a calculator makes what-ifs and side-by-side comparisons easy.

The Loan Calculator supports many different amortization methods:

• Normal
• Canadian
• Fixed principal
• Interest only
• No interest
• Rule-of-78s

7. Loan Comparison Advisor:

Tell you in plain English whether is costs less to finance a loan at 8.75% with 2.5 points or one at 8.5% with 3 points. The answer to this question depends upon how long you plan to pay on the loan (are you going to sell the property before the loan is paid off?) and how the points are collected (up front or amortized?). Various interest compounding and payment frequencies are also taken into account. The Loan Comparison Advisor will consider these issues when it compares loans.
8. Remaining Balance Calculator:

Calculate the remaining principal balance on a loan after any payment number. Additionally, the regular payment amount is also calculated. Often you will want to know the balance of a loan. It is often much easier to use this calculator than it is to set up a complete amortization schedule.
The Remaining Balance Calculator is designed for doing fast, what-if, calculations. If you want payment details and annual totals, you should look at our Amortization Schedule Calculator.

9. Refinance Advisor:

Compare the costs of two different mortgages or loans. Since the 1980's, interest rates have been on a roller coaster. Maybe you have a loan that you took out when rates weren't so favorable. This calculator will tell you, in plain English, if it pays to refinance the loan.

It is very easy to quickly calculate many different scenarios. This calculator is a handy tool for mortgage professionals that refinance loans or for financial advisors who offer guidance on refinancing. It puts everything into plain language!

Enhancements:

1. Updated Help & Documentation. More examples.
2. Improved APR accuracy.
3. Updated printer routine.
4. Clearer error messages.

Requirements:

1. Windows 32-bit or 64-bit
2. 15mb drive space