Your Company Name
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MyLoanAlyzer™
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Your Name
Mortgage Specialist
800-244-1777 |
Your Address
Your City, MA 12345
Tel: 800-244-1777
Fax: 555-555-1212
Email: yourname@yourdomain.com |
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This MyLoanAlyzer™ Report Created for:
Jane Doe
Date Prepared: 08/15/2006
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Current
Mortgage Financing
This section lists your current mortgage information based on the information
we have on file. |
First Mortgage |
Second Mortgage |
Loan Amount: |
$220,000.00 |
$0.00
|
Balance: |
$185,212.43 |
$0.00
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Rate: |
7.75% |
0%
|
Principal: |
$377.51 |
$0.00
|
Interest: |
$1,198.60 |
$0.00
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Monthly MI: |
$0.00 |
|
Payment: |
$1,576.11 |
$0.00
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Payoff Date: |
12/21/2024
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N/A
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Loan will be paid off in 220 months |
0 mo. remaining |
Total
Monthly Expense:$1,576.11 |
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Proposed
Financing
This section lists
up to three financing options for you to compare costs and benefits
associated with each program, rate, and point structure. |
Program
Summary for 60 Month Comparison |
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Option ARM
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Fixed 1st Only
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Fixed 1st & 2nd
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| 1st Mortgage |
Loan
Amount: |
$368,800.00
|
$416,230.00
|
$369,520.00
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Interest Rate: |
1.95% |
6.75% |
6.75% |
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Term: |
360 |
360 |
360 |
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Payment (P+I): |
$1,353.96 |
$2,699.66 |
$2,396.70 |
| |
Monthly MI: |
$0.00 |
$232.40 |
$0.00 |
| |
1st Total (PI+MI): |
$1,353.96 |
$2,932.06 |
$2,396.70 |
| 2nd
Mortgage |
Loan Amount: |
$0.00 |
$0.00 |
$91,280.00 |
| |
Interest Rate: |
0% |
10.25% |
10.25% |
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Term: |
360 |
360 |
360 |
2nd
Payment(P+I):
|
$0.00 |
$0.00 |
$817.97 |
Proposed
Payments(P+I + MI): |
$1,353.96 |
$2,932.06 |
$3,214.67 |
|
Net
Payment Difference: |
$222.15
|
$1,355.95
|
$1,638.56
|
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Total Monthly Obligation(PITI): |
$1,620.96
|
$3,199.06
|
$3,481.67
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Total
Payments for 60 Month
Comparison
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|
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Option ARM
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Fixed 1st Only
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Fixed 1st & 2nd
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Interest Paid: |
$94,705.31 |
$137,639.90 |
$168,670.36 |
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MI Paid: |
$0.00 |
$13,944.00 |
$0.00 |
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Principal Paid: |
$0.00 |
$25,491.12 |
$25,614.95 |
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Total Payments: |
$94,705.31 |
$177,075.02 |
$194,285.31 |
Total Non-Interest
Costs for 60 month Comparison
|
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Closing Costs: |
$1,700.00
|
$1,200.00
|
$2,400.00
|
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Point
Costs: |
$7,200.00 |
$8,100.00 |
$8,100.00 |
*Opportunity
Costs: |
$1,401.18 |
$1,788.93 |
$1,721.29 |
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Total Cost: |
$10,301.18
|
$11,088.93
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$12,221.29
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Amortized
Remaining Balance: |
$423,560.32 |
$390,738.88 |
$435,185.05 |
| *Opportunity
costs are based on the loan costs associated with the proposed
financing that are not to be paid out of loan proceeds. The missed
investment opportunity rates
used and applied to the funds withdrawn from another source for
the three comparisons were 3%, 3% and 3%. |
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Graphical
Analysis
The following section provides
a graphical presentation of the proposed financing options to assist you
in making the best decision based on your financial goals.
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Cost
Analysis
This graph
includes amortized interest paid, monthly insurance paid, closing
costs, points,
and missed investment opportunities over the comparison period
of 60 months.
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With Option ARM you
will have a loan cost of $105,006.49 after 60 months.
With Fixed 1st Only you
will have a loan cost of $148,728.83 after 60 months.
With Fixed 1st & 2nd you
will have a loan cost of $180,891.65 after 60 months.
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Principal
Paid Analysis
This graph shows the principal you will pay over the comparison period of 60 months.
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With Option ARM you
will have paid $0.00 towards the principal
after 60 months.
With Fixed 1st Only you
will have paid $25,491.12 towards the principal
after 60 months.
With Fixed 1st & 2nd you
will have paid $25,614.95 towards the principal
after 60 months.
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Tax
Benefit
Analysis
An estimated tax rate of 28% has been applied
for this analysis. |
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With Option ARM , you will have paid $67,975.20 in actual interest, after your tax benefit of $26,434.80 has been applied.
With Fixed 1st Only, you will have paid $98,271.71 in actual interest, after your tax benefit of $38,216.77 has been applied.
With Fixed 1st & 2nd, you will have paid $120,430.98 in actual interest, after your tax benefit of $46,834.27 has been applied.
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Initial
Monthly Investment AnalysisThis graph show your
principal interest and private mortgage insurance (if applicable)
payment on a monthly basis.
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Original payment is $1,576.11.
Option ARM initial investment would be $1,353.96.
Fixed 1st Only initial investment would be $2,932.06.
Fixed 1st & 2nd initial investment would be $3,214.67.
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| * NOTICE: Information provided is time-sensitive material. Rates, programs, fees and points are subject to change without notice. If you are applying for an Adjustable Rate Mortgage, payments and interest rates will change. Payments, interest rates, and loan balances are estimates only. Your amount may be different. This is not a loan commitment, nor is it a guarantee of any kind. This comparison is based solely on estimated figures and information available at the time of preparation. |
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