Pardon my mess, but I'm working here.
The RELDT® calculators and the Free & Clear® Loan Acceleration Software were developed by a mortgage professional with over 35 years of experience. Harry Jensen has met with thousands of consumers and brings to the visitor his understanding of lender qualification requirements.
John wrote:
Are there any benefits relating to a Bi-Weekly loan program? My answer.
RELDT® Net Income
Mortgage Calculators
Statement to recent visitors.
The "Loan Amount Qualification Calculator" is designed to give the user an estimated monthly PI&TI payment and gross income necessary to qualify for the mortgage loan. For those considering a home purchase, subtract the down payment from the sales price to determine the loan amount.
Thank you for your emails, H. Jensen
The RELDT® calculators are designed to help the user answer a specific question.
"What will be my estimated monthly mortgage payment."
As an example, using your net income, you can determine an estimated acceptable PITI that fits your monthly net income capability (TI = property taxes & insurance).
Note: Fixed Rate P&I is set for the life of the loan; T* & I is a variable.
*Property Taxes vary by county.
The user can input different interest rates and amortization terms to determine monthly payments and corresponding loan amounts.
If the user is interested in an "Interest Only" monthly mortgage payment, use the interest only calculator. You can accelerate interest only loans and change the payment.
Any RELDT® calculator result is an estimate of the user's ability to make the monthly PITI payment. Users are advised to contact a lender for specific mortgage qualification requirements and payment information.
Email any suggestions to harryjensen@adnc.com
Free & Clear®
Loan Acceleration Program
Will Be Available In The Near Future
Amortization:
Eliminating debt over time via monthly Principal (P) and Interest (I) payments.
(With the last payment, the debt is paid in full.)
Free & Clear® is the state of the art "What If?" acceleration loan program.
What if I added $100 to my monthly loan payment? What is the new payoff date?
What if I over pay an ARM loan? You have control of the payment.
What if I choose a Bi-Weekly mortgage? Saving money is the desired result.
What if I accelerate an existing fixed rate loan? Early payoff saves money.
What if I add 1/12th of P&I to my monthly payment? Save approximately 66 months.
What if I accelerate a fixed rate ARM? Impacts the payment at change date.
The Free & Clear® Loan Acceleration calculators provides payoff date answers for all types of installment loans: auto, student, credit card, personal, etc.