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Home loan calculation

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I found this great software that fit my need :-)

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Program Description: This program is a compendium of 8 mortgage type programs.They include:

1. Addedpmt.EXE - A program illustrating the effect of additional payments for reducing interest paid and the term of a loan.

2. Balloon.EXE - A program that explores the use of this type mortgage.

3. Biweekly.EXE - This program calculates and displays the reduced loan period with this type mortgage.

4. 1530mtge.EXE - A program that displays and lists the advantages and pitfalls of using this type of financing.

5. Loanamor.EXE - This program is a standard amortization schedule which displays annual interest paid for your use at tax time. It Can also be used for any simple interest loan with multiple payment periods.

6. Maxmtge.EXE - A mortgage qualifier for either a fixed- rate or variable-rate mortgage. It shows how large a mortgage you qualify for.

7. Refinanc.EXE - This program demonstrates advantages to refinancing your existing mortgage. Conditions under which you should consider refinancing are presented.

8. Varimtge.EXE - You can use this program to either investigate or track a variable-rate mortgage or to project the payout of this type mortgage.

The last function suit us very well, it can be used to calculate various schemes used in malaysia, for example :

a. fixed rate at first 3 years, then variable rate at the remaining x years

b. fixed rate at x years

You will be able to get the exact number that banker is going to give you.

Free download from Shareware Connection - programs include:added payment,ballooon amortization,biweekly amortization, 15vs30 year mortgage,loan amortization,maxmortgage,refinance, variable rate mortgage.

Link : http://www.sharewareconnection.com/mortgages-.htm

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Useful Info.

Anyway, to those who are planning to buy a house and ready to build a family (a.k.a. marrying soon- Congrats!) can always look for me for a finiancial health scan. So you will know how healthy you are in preparation of a new family! :lol:

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Is it possible to get a housing loan if I have a bad record in settling my credit card? Last time I have told the bank to cancel the credit card, guess what? I still receive the bill for the annual fee. Any bank mortgage officer to recommend? Really worry now.

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Is it possible to get a housing loan if I have a bad record in settling my credit card? Last time I have told the bank to cancel the credit card, guess what? I still receive the bill for the annual fee. Any bank mortgage officer to recommend? Really worry now.

My dad once have the same problem as you. He approach the banks and the officer turned him down for mortgage loan application until he found a mortgage broker from http://www.klang-valley.com

You can try his free service for loan application.

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do u guys know which bank offer better BLR? lazy to google each bank one by one..thanks guys

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Please do not add in the MRTA amount into your homeloan, is not worth.

In addition, buy a Life insurance with critical illness cover for your houseloan is much better than MRTA. Please note MRTA only covered for Death/TPD, not 36 critical illness. If the person diagnose of critical illness, the homeloan still need to continue pay.

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do u guys know which bank offer better BLR? lazy to google each bank one by one..thanks guys

BLR is declare by BNM so all the bank is offerring the same rate 5.8% now. But I have asked once b4 Citibank is 0.5% higher than others.

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Please do not add in the MRTA amount into your homeloan, is not worth.

In addition, buy a Life insurance with critical illness cover for your houseloan is much better than MRTA. Please note MRTA only covered for Death/TPD, not 36 critical illness. If the person diagnose of critical illness, the homeloan still need to continue pay.

Yes agree with suevian...I purchase from Insurance company instead from bank MRTA.

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Dear all,

Anyone knows how to calculate a home loan?

Thanks in advance...

Cheers! :wink:

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Hi,

I found this website for the home loan calculator, you can have a look,

http://property.simedarby.com/Home_Loan_Calculator.aspx

but i think this can be a general calculation.. as i think nowadays bank got lotsa different package that might got some difference on the calculation.

Dear all,

Anyone knows how to calculate a home loan?

Thanks in advance...

Cheers! :wink:

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For all your lazy busy mummies and daddies out there, there is a single website that you can visit to compare Housing Loans without visiting numerous Banking websites.

Just go to http://www.bankinginfo.com.my/.

Its operated by BNM with member banks updating their various packages (so there might be a delay in the Banks doing so). It covers almost all products offered by the Banks and also offers Financial Tips, etc.

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I still dont understand how the loan works. Can someone pls explain to me in detail? I would appreciate if can email to me "pamphoon@singapore-11.com" Thanks

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