National LawForms Amortization Software generates a schedule of periodic payments to repay a fixed, variable, or Interest-Only Loan over a user-selected time interval. Additional payments or balloon payments are easy to include. Use our Loan Analysis Software for real estate mortgages, contract sales and notes, car loans, and more.
Software shows the principal balance remaining at the end of each period and the amount of each payment that is applied to principal and interest in actual dollar amounts. The accumulated days, interest, monthly payments and additional payments are listed at the bottom of the schedule. Annual subtotals are shown as well.
Need more than just a simple Amortization Schedule? Check out our Loan
Manager Software, which incorporates additional features for tracking loan
payments. Generate an amortization schedule which can then be customized by adding,
editing or deleting payments. Track the actual dates payments were made, calculate
fees even add additional payments. Create and print invoices's and much more!
Even if you are fortunate enough to pay up front for your home or car, or to
pay substantial down payment, you still may be better off to make a small down
payment, take a sizable loan, and invest your funds in other ways. This decision
depends on how favorable a loan you can negotiate and what alternative investment
opportunities are available. This software is designed to help you analyze and
compare mortgage loans.
The best way to get a full appreciation
of the value our software provides is to actually use the program before you
buy it. With this in mind, we have developed a fully functional program that
does much more than just show you how the program works, in fact the demo is
actually the same version we ship you when you purchase the product. We limit
the principal amount in the Amortization software. All other variables can be
changed and calculated by simply selecting the calculate button once you have
entered the desired variables of the loan. We can have you up and running immediately
the same day your order is placed! Download our Amortization
Schedule Software Demo Now! TECHNICAL SUPPORT
One year of Technical Support included with purchase. Check out our Knowledge Base where you can find answers to frequently asked questions and resolve technically related issues. We have an excellent database of notes, technical articles & tutorials to help make your experience with our software an enjoyable one. Submit questions via email or if you're still experiencing difficulty you may speak with one of our friendly and courteous support representatives. UPGRADE ASSURANCE
One year of upgrade assurance, simply stated: its like having an insurance policy for your software. If LawForms releases a new version within a year of purchase you are entitled to receive that update for FREE! 30-DAY MONEY BACK GUARANTEE
That's right, we are so confident that you will be happy with our Amortization Schedule Software that we guarantee it! INTUITIVE INTERFACE
Simple design. Type information on the screen exactly as you would type on the form itself. There are many ways to avoid redundant typing.
XRAMP 256-BIT SSL ENCRYPTED SECURE SHOPPING CART
LawForms strictly protects the security of your personal information when placing orders with us and honors your choices for its intended use. We carefully protect your data from loss, misuse & unauthorized access or disclosure. Furthermore we will not rent, sell or otherwise distribute your personal information per our Privacy Policy. Feel comfortable ordering from our secure shopping cart which has been verified by XRamp Technologies.
Secure Sockets Layer, SSL, is the standard security technology for creating an encrypted link between a web server and a browser. This link ensures that all data passed between the web server and browser remain private and integral. SSL is an industry standard and is used by millions of websites in the protection of their online transactions with their customers. In order to be able to generate an SSL link, a web server requires an SSL Certificate. XRampSSL is such a Certificate, and when installed, can be used to create secure links to protect transactions, passwords, personal details, and more.
LIST OF ADDITIONAL FEATURES
Export data to an ASCII text file which can be imported into Microsoft Excel or Microsoft Word
Real time auto-calculation feature, we do the math!
Calculate for unknown
Smart-key tab driven menu system
Form field focus highlights the current data field at all times
Preview document feature
Easy client save and retrieval from within the program
Network Compatible & Multi User Ready
Easy set-up wizard Ready to use in minutes!
Technical support via phone and web
CALCULATING INTEREST-ONLY LOANS
A mortgage is “interest only” if the monthly payment does not include any repayment of principal for some period. The payment consists of interest only. At the end of the term, the initial loan balance is paid off in one-lump sum.
Interest Only Loan Payments are very easy to calculate. Since the borrower is not paying any principal, and there is no amortization, you can use simple math to calculate your monthly loan payment. Consider a 10-year, interest-only loan of $100,000 at 6.25%.
STEP 1 (CALCULATE TOTAL ANNUAL INTEREST)
Your total annual interest would be $100,000 (Loan Amount) X .0625 (Interest rate in Decimals) = $6,250 Annual Interest Owed.
STEP 2 (CALCULATE TOTAL MONTHLY PAYMENT)
Divide the annual interest by 12 (number of months in a year) to determine your monthly payment. $6,250 (Annual Interest) divided by 12 (number of months) =
STEP 3 (TOTAL MONTLY PAYMENTANNUAL INTEREST)
Monthly payment would be $520.84 That's all there is to it!
Otherwise, the fixed-rate, amortization payment would be $615.72, of which $94.88 is principal. Back in the twenties, interest-only loans were the norm. Borrowers typically refinanced at term, which worked fine so long as the house didn't lose value and the borrower didn't lose their job. But the depression of the thirties caused a large proportion of these loans to go into foreclosure. Lenders stopped writing them and have never brought them back. They want loans that eventually amortize. Hence, the interest only loans of today are interest only for a specified period, such as 5 years. At the end of that period, the payment is raised to the fully amortizing level. In such case, the new payment will be larger than it would have been if it had been fully amortizing at the outset.
Interest only mortgages are for borrowers who want a lower initial payment, and have some confidence that they will be able to deal with a payment increase in the future.
Our Loan Analysis Software will help you compute fixed-, variable-, and interest-only loans. Even if you are fortunate enough to pay up front for your home, or to pay substantial down payment, you still may be better off to make a small down payment, take a sizable mortgage, and invest your funds in other ways. This decision depends on how favorable a loan you can negotiate and what alternative investment opportunities are available. This software is designed to help you analyze and compare mortgage loans.
LawForms welcomes your comments or questions, please contact us by e-mail or postal mail. NATIONAL LAWFORMS, INC.
PO Box 93001
Phoenix AZ 85070
Phone: 877-543-6767 Fax: 480-283-0856
Email: info@nationallawforms.com
National Law Forms – An Industry Leader in Legal Software Development, targeting the Legal Professional. Streamline the preparation of Legal Documents. Our legal software products include: Bankruptcy Software (Chapters 7, 11, and 13) with Electronic Case Filing, ECF, Estate Planning Software, Trust Software, Wills Software, Incorporation Software, Limited Liability Company Software, LLC Software, LLP Software, Family Limited Partnership Software, Mortgage Loan Software (includes; FNMA 1003 Application, Good Faith Estimate and Truth in Lending Regulation-Z), National Uniform Commercial Code Financing Statement and Real Estate Closing Software (includes; 1099-S, Amortization Software, Escrow Disclosure Software, HUD-1 Software, HUD-1A Software), Living Trust Software. Corporation Record Books, Corporate Seals and Stock Certificates and an extensive list of Legal Forms are also available!
National LawForms, Inc. does not rent, sell, or share any of your personal information with 3rd parties in accordance with our Privacy Policy.