I have included a link to a mortgage calculator that I have used (Canadian Mortgage Calculator) this one is free and it works pretty well. BUT this one (http://www.amortization.com/) works REALLY well. You do have to pay for it – but it is cheap – $40.00 Anyway – you can use it as many times as you like – I have dealt with the man who developed it and he has allowed me to continually download it after my computer died 3 consecutive times.
This Canadian mortgage calculator is a MUST for any broker or investor. It can calculate late payment charges, effective interest rates, pre-payment penalties. It has more features than you’ll ever need. It can calculate interest on a monthly and semi-monthly feature. Even if you are just a client – this is still a good investment. If you are a lender (especially a new private lender) you need this.
One of its best features – is that it produces amortization charts that are amazing – if you are being offered two mortgage financing proposals this can weed out the differences and help you measure apples to apples.
Suggested article: How to stop spending too much money!
Trevor Hickey, B.A.
Concord Mortgage Group Ltd.
#107 – 1905 Centre Street NW
Bus: (403) 290-1990
Cell: (403) 860-8738
Popularity: 8% [?]