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Personal Finances / Buying or Selling a Home


Subject:  calculating an interest only loan Date:  1/18/2003  3:37 PM
Author:  jakeburns100 Number:  50369 of 128887

I'm trying to figure out how much money we can save on a combo loan that we've just taken out (new home). The first (5/1 ARM) is an interest only loan for 10 years. I can't seem to find a spreadsheet that accommodates this "feature". I've looked at the Mortgage Prof's site and while there are lots of great tools there, I didn't see this one...I'd appreciate it if anyone out there could direct me to where I might find such a spreadsheet. In the meantime, I'll fire up Excel, but...thanks.--Jake
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