| Rating: 1 | | | Total Hits - 88 | | | | Mortgage Manager calculates the cost of a mortgage and allows``you to compare mortgages and the effect of different interest rates and``overpayments. It is designed for the UK market, but may work ``for other countrys mortgage systems.````Use Mortgage Manager to create an icon for each mortgage you are ``evaluating, then enter values such as the mortgage amount,``fixed/discounted/capped/cashback rates and the interest calculation ``period as well as one-off administration costs. Payment details are ``then calculated with a month-by-month break-down of the payments and ``the running total. You can modify the interest rate and add over-payments ``to see their effect on the costs. Different mortgages can then be``compared to see which is cheapest over various periods of time.``But why do you need it? Because its not possible to know which is ``best without calculating payments. Try this: Which is cheaper? ``(1) A 3 year fixed rate of 5.1% with a setup fee of 100 and then a ``variable rate of 6.5%, or (2) A 5 year fixed rate of 5.5% with a setup ``fee of 300 and then a variable rate of 6.5%? If you dont know, then ``you need Mortgage Manager to save you money. | | | http://www.ajdcomp.demon.co.uk/mortgage-manager | Last Updated on 7/2/2008 6:15:00 PM |
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