User Manual

Mortgages and Amortization 15
BEAR-CH1.DOC BA Real Estate Guidebook Jackie Quiram Revised: 09/28/99 1:16 PM Printed: 09/28/99 1:16 PM
Page 15 of 36
The Time-Value-of-Money (TVM) Model ........................... 16
Changing TVM Settings ....................................................... 17
Setting Default Rates for Your Area .................................. 18
Calculating Down Payments............................................... 19
Computing a Monthly Mortgage Payment......................... 20
Finding the Unpaid Balance on a Mortgage...................... 22
Paying Off a Loan with Larger Payments.......................... 24
Calculating a Balloon Payment .......................................... 26
Finding the Payment for a Mortgage with a Balloon ....... 28
Total Payment Including Taxes and Insurance (PITI)..... 29
Computing Total Payment (PITI)....................................... 30
Adjustable-Rate Mortgage (ARM) ...................................... 32
Finding Periodic Payments for an ARM ............................ 33
Comparing an ARM to a Fixed-Rate Mortgage................. 36
Bi-Weekly Mortgage Payments........................................... 40
Calculating a Mortgage with Bi-Weekly Payments .......... 42
Finding the Balance on a Canadian Loan.......................... 44
Amortization (AMORT) ....................................................... 46
Finding the Principal and Interest Paid............................. 47
Chapter 1: Mortgages and Amortization
This chapter describes real estate models relating to
mortgages and amortization.
Chapter
Contents