Instructions for the Mortgage Loan Calculator
Please read first before downloading the calculators.
(Go to bottom of this page for downloads.)
- The calculator by design is intended to be used by a "qualified loan
agent."
- It is our preference to use this tool live with you over the phone so that
we could compare a wide range of first trust deed loan programs with you.
- To discuss the differences between loan programs and to assist you with
identifying which loan will best meet your needs and go through this process
with you with correct interest rate calculations for that day and time.
The first step is to click on the COFI Section, which sets the index values,
and these can be COFI (Cost of Funds Index for the 11th district of
the Federal Reserve Board). This area is California, Nevada, and Arizona. Or it
can be the COSI index which is the Cost of Savings Index for Washington, Oregon,
Idaho, Montana, California, Nevada, Arizona, New Mexico. We offer the choice of
indexes to establish the base rate of these loan programs. Both of these programs'
indexes only change once a month and are not tied to breaking news indices such
as the Treasury products — 6 month, 1 year, 3 year, 5 year, 10 year treasury
bills or the "constant maturity" of these same indices. The importance
of this information is that when compared to the "breaking news indices"
they cost you the client the least overall interest and they have a track record
of very little movement. Hence, these loans track very much like fixed rate products
with consistent interest rates and history shows that they outperform all other
interest rate index values.
Index
History
- To work the loan calculator you must select an index value and enter it
in the first year area on the Excel spreadsheet. Click on the corner of the
cell and drag it down and watch the columns change. Complete these instructions
for each section through all 30 years.
- The next area of information that you will want to enter is the "Margin"
Section. The margins are also set once a month on the first Monday. Hence
a loan agent can assist you with this data as well.
- Now enter the Purchase Price (appraised value if a refinance loan) or your
best guess if not known at this time.
- Enter the left side Loan Amount.
- Make the same loan amount for the right side
- The left side has a pull down menu of loan programs that can be selected.
The Options EB is the "Solid Gold EQUITY BUILDERSM Loan Program"
- Now enter the start rate again provided to you by our loan agent.
- From this data you can then see exactly how this loan will perform vs. all
other options and we can play "what ifs." This can be a really informative
to you. Then you can select the loan terms that meet your needs.
Once again this is a tool for our loan agents to use on-line with you
so as to better assist you with real data upon which you can make informed decisions.
Once this has been completed we can use the data to show you how we can actually
assist you to fund your future retirement plan 401(k) and IRA from the savings
that we can generate for you. The most important dollar that you own is the
dollar that today that you invested in yourself!
Now Download the "Power Options" Calculator
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