Online Loan Help
Create new loan
Select File->New, change date of first payment, if it is not correct. Enter the amount, interest rate and years to pay off of loan, click OK. You can create multiple mortgage at the same time.
Select File->Save, save the current loan to a file.
Refinance a loan
Create a new loan, right click on the date you want to refinance your loan, a menu will pop up.
Click Add Refinance will open up the refinance dialog box, enter the cost, apr and years to pay off, click OK.
Right click the date you refinanced your loan to edit or remove refinance.
Modify the rate of your loan (rate modification)
Create a new loan or open a loan file, right click the date you want to modify your rate.
Click Rate Modification on the pop up menu, in the rate modification dialog box, enter cost, new interest rate, click OK.
Right click the date you modified your rate to edit or remove rate modification.
Modify your payment schedule.
You can either change your monthly payment to a fixed amount (new payment) or increase your current payment by a fixed amount (payment increment)
Create a new mortgage or open a loan file, right click the day you want to modify your payment schedule.
Click New Payment if you want to change your monthly payment to a fixed amount or Payment Increment if you want to add payment to the current payment. Enter amount in the dialog box, click OK
Right click the date you modified your payment schedule to edit or remove your changes
You can scroll down to the bottom to reveal the effect of your new payment schedule on how sooner your loan will be paid off.
Prepay you loan
Create a new mortgage or open a loan file, right click the date you want to prepay your mortgage.
Click Payoff on the pop up menu, in the payoff dialog, enter the amount you want to payoff, click OK.
Right click the date you prepaid your loan to edit or remove your prepayment.
You can scroll down to the bottm to see the effect of your prepayment on sooner your loan will be paid off.
Save your work
You can save your loan work sheet to LoanCalc recogniziable file or export your data to text file which can be imported into your favorate spread sheet.
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