loan comparison program

compute lowest cost loan
DecisionAide Analytics Loan Comparison Program

Complex Loan Schedules
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Multiple Loan Comparisons
Loan Comparison Calculator

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Program Overview

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Loan Comparison Program Introduction


You are about to start using a sophisticated loan comparison program. Here are some guidelines for making maximum effective use of this program.

The more detailed information you can supply about the loan you are considering the more accurate the comparisons can be. If you are not clear on what kind of input is being requested please click on the "Input Help" button at the top of the screen.

It might be a good idea to print out an unfilled out copy of the input form, make several copies of it, and collect your information on these forms. You can approximate some of the loan costs if you don't have definitive information, but most lenders are able to give you a "good faith" estimate of costs which will be reasonably accurate.

DO NOT USE DOLLAR SIGNS ($), COMMAS (,) PLUS OR MINUS SIGNS ( + / - ) IN ANY INPUT BOXES

When you start inputting loan information click on the drop down lists to see what kinds of changes are permitted. If, for example, you obtain a 30 year loan with a 15 year payoff, you need to enter the following change:  In month #180 - Pay Off Loan in Full

You may enter up to five (5) loans including all costs of obtaining the loans. Mortgage insurance, if required by the lender, may also be entered. Each loan can have up to ten (10) changes. Changes are entered on the right side of the screen.

Only three (3) items are REQUIRED for each loan. The required items are:

  • Loan Amount
  • Interest Rate
  • Term (in years) OR
  • Payment Amount

All other input is optional. A comprehensive analysis, however, requires all costs of obtaining the loan to be entered. The more you know about the loan, the better the analysis will be.

After inputting a loan, take a look at the amortization schedule for the loan. This will show you whether or not the loan will generate the payment schedule that you expect.

Back to Home PageGo To Loan Input Screen

 

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