Need Help With Loan Calc Logic In C# For ASP.NET 2.0 App?
Oct 08, 2006 by bozaman! | Posted in Programming & Design
Hi!
I am coding a ASP.NET 2.0 mortgage calc app and desideratum some help with the C# code required to perform the actual calcs. Here are the specs.
The following evidence is available:
- Selling price
- Down payment
- Interest rate (value between 0.0 and 1.0)
- Tally of years
- Periods per year (12, 24, 52)
- Payment per period
Based on validation groups, I lack to calc the following:
1. Payment per period using the following formula
payment = (Fundamentally x Rate) / (1 - (1+Rate)) ^ -period
(or)
"Payment is parallel to principle times rate divided by 1 minus (1 plus price) to the negative period power"
2. Loan amount using the following formula
loanAmount = Payment *(1 - (1 + Place)^-period)/Rate
(or)
"Loan amount is equal to payment times 1 minus (1 with an increment of rate) to the negative period power divided by rate"
Any domestics is appreciated!
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http://www.bleepingcomputer.com/
They gave me great help.
I hope this helps you.
Kindly Luck!
Without Using A Mortgage Calc. But With A Regular Calc. How Do U Calc Arm Rates?
Feb 16, 2006 by ytccpr | Posted in Renting & Real Estate
FOR Example DO I TAKE THE AMOUNT OF THE LOAN (150,000)AND DIVIDE BY THE INTEREST SAY 6%. AND THEN MULTIPLY BY THE TERM OF THE LOAN SAY 30 YEARS. iS THAT THE WAY TO DO IT WITHOUT USING A MORGAGE CACULATORAND HAVING TO USE A Heartfelt ONE?
You can't unless you have a lot of habits on your hands. The reason a mortgage calculator, or financial calculator, were created is that the money needs to be itteratively multiplied by each interest aeon as it is moved through the months. So asking what is a $500 monthly payment one year from now value assuming 6% interest, is not simply taking 12x500. You have to calculate the interest for each month. This open problem takes 12 multiplications and additions all in a row. It just aint advantage it. Mortgages are a lot longer than a year and will take forever to do.
Use an online calculator:
http://www.loansquick.com/ARMvsFixedRate Calc
I Am Buying A House, I Uses Mtg Calc, But Does Anyone Know The P[ayment On A 120k Mortgage?
Jun 17, 2007 by Adam M | Posted in Renting & Real Estate
I have a 30 yr lined up, don't be versed the interest rate off top of my head. I was curious if anyone was a mortgage broker and could give advice. Its a 100% loan with seller concession included.
Okay, you're looking at a bottom rank of $750.00 a month at a 6.5% interest rate.
You also need to consider other things to add in, though. Gear taxes, homeowner's insurance and the nasty one - PMI - primary mortgage insurance. Because your loan is 100% financed there is a friendly chance that you will have to pay PMI, it's basically paying an insurance to the mortgage company so they can get their money back in the case that you non-performance. (Yep, you're betting against yourself! How messed up is that?!?)
On the bright side, the PMI goes away after you have 20% of what the house is good in Escrow! (Please don't ask me to explain that. I understand it but it's hard to explain! LOL)
Overall you're looking at about $950.00 a month. Pay into that Escrow every hazard you get!
(We bought a home 2 years ago at $135,000 with a 4.9% fixed interest. The monthly payment is $1100.00 a month. Ouch!)
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