Loan Calculators
1 Source Data has a selection of built-in loan calculators. Click the Loan Calculators list in the Others section of the main desktop to find them. We currently provide calculators for affordability, amortization, and purchase / rental comparisons.
| Affordability Calculator |
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From the Loan Calculators menu, follow the How much can you afford? link. You will then be asked for annual income, monthly debt, down payment amount, property tax rate, home insurance rate, mortgage interest rate, loan length, maximum Principal Interest Taxes and Insurance (PITI) debt ratio, and maximum total debt ratio. Press the Submit Query button to generate the report.
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| Amortization Table Generator |
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From the Loan Calculators menu, click the extremely nebulous link marked Break down my payments into principal and interest? To calculate an amortization schedule, enter the loan amount, the annual interest rate, and the length of the loan in years. Press the Submit Query button to generate the table.
The resulting amortization schedule will compute the necessary monthly payment, and show payment summaries for each month of the loan. |
| Purchase vs. Rental Comparator |
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This calculator compares the costs of buying and renting. From the Loan Calculators menu, click Should you buy or rent? You will be asked for a cash-on-hand figure, and federal and state income tax brackets. For rental, you will need to provide a monthly rent payment, annual rent increase, and savings rate. For buying, provide the purchase price, loan fees, mortgage interest rate, loan length, property tax rate, home insurance rate, time before selling, appreciation rate, and sale transaction costs. Press the Submit Query button to compare the figures.
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If you would like to see a specific calculator added to 1 Source Data, please contact us by e-mail at technicalsupport@1 Source Data.
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