This is a library which calculates details about various mortgage types (Fixed, ARM, Extra Payments etc). This is not a web interface but pure javascript library which takes input and returns Javascript response objects.
While I was researching for my home mortgage, I wanted to do comparative analysis to see what it would look like if I have to refinance/sell after various stages (3 years, 5 years, 7 years etc) to findout which type of mortgage works out well. I couldn't find a good source which helps with that analysis. So I thought about creating a library and develop a page which does it. So this library is result of that thought.
- Fixed Interest Mortgage
- ARM Mortgage with Initial Cap, Periodic Cap, Lifetime Cap and arbitrary (at a month interval) monthly intervals.
- Supports adding any number of extra payments (either one time or at a particular periodic intervals)
- Creates the amortized payment schedule for entire loan term with exact payment date
- Takes down payment as dollar amount or percentage of sale price
- Calculates the roll up summary by ToDate, loan year and calendar year.
- Supports adding property tax into payment total
- Calculates the total loan cost
{
"salePrice":50000,
"interestRate":5,
"loanTermMonths":12,
"propertyTaxRate":0,
"adjustFixedRateMonths":6,
"adjustInitialCap":0.25,
"adjustPeriodicCap":0.25,
"adjustLifetimeCap":15,
"startDate":"2014-08-01T00:27:47.788Z",
"extras":[
{
"startMonth":1,
"endMonth":180,
"extraIntervalMonths":1,
"extraAmount":100
},
{
"startMonth":1,
"endMonth":180,
"extraIntervalMonths":12,
"extraAmount":1000
}
]
}{
"loanTermMonths":12,
"salePrice":50000,
"interestRate":5,
"downPayment":"20%",
"extras":[
{
"startMonth":1,
"endMonth":180,
"extraIntervalMonths":1,
"extraAmount":100
},
{
"startMonth":1,
"endMonth":180,
"extraIntervalMonths":12,
"extraAmount":1000
}
],
"propertyTaxRate":0,
"homeInsurance":0,
"adjustFixedRateMonths":6,
"adjustInitialCap":0.25,
"adjustPeriodicCap":0.25,
"adjustLifetimeCap":15,
"adjustIntervalMonths":12,
"startDate":"2014-08-01T00:26:09.758Z",
"loanAmount":40000,
"totalLoanCost":1047.54,
"paymentSchedule":[
{
"interestRate":5,
"scheduledMonthlyPayment":3424.3,
"interest":166.67,
"principal":3257.63,
"extra":1100,
"principalTotal":4357.63,
"propertyTax":0,
"paymentTotal":4524.3,
"paymentDate":"2014-09-01T00:26:09.758Z",
"remainingLoanBalnce":35642.37,
"loanMonth":1,
"loanYear":1,
"interestLoanYearToDate":166.67,
"principalLoanYearToDate":3257.63,
"extraLoanYearToDate":1100,
"principalTotalLoanYearToDate":4357.63,
"propertyTaxLoanYearToDate":0,
"paymentTotalLoanYearToDate":4524.3,
"interestToDate":166.67,
"principalToDate":3257.63,
"extraToDate":1100,
"principalTotalToDate":4357.63,
"propertyTaxToDate":0,
"paymentTotalToDate":4524.3
},
{
"interestRate":5,
"scheduledMonthlyPayment":3424.3,
"interest":148.51,
"principal":3275.79,
"extra":100,
"principalTotal":3375.79,
"propertyTax":0,
"paymentTotal":3524.3,
"paymentDate":"2014-10-01T00:26:09.758Z",
"remainingLoanBalnce":32266.58,
"loanMonth":2,
"loanYear":1,
"interestLoanYearToDate":315.18,
"principalLoanYearToDate":6533.42,
"extraLoanYearToDate":1200,
"principalTotalLoanYearToDate":7733.42,
"propertyTaxLoanYearToDate":0,
"paymentTotalLoanYearToDate":8048.6,
"interestToDate":315.18,
"principalToDate":6533.42,
"extraToDate":1200,
"principalTotalToDate":7733.42,
"propertyTaxToDate":0,
"paymentTotalToDate":8048.6
},
{
"interestRate":5,
"scheduledMonthlyPayment":3424.3,
"interest":134.44,
"principal":3289.86,
"extra":100,
"principalTotal":3389.86,
"propertyTax":0,
"paymentTotal":3524.3,
"paymentDate":"2014-11-01T00:26:09.758Z",
"remainingLoanBalnce":28876.72,
"loanMonth":3,
"loanYear":1,
"interestLoanYearToDate":449.62,
"principalLoanYearToDate":9823.28,
"extraLoanYearToDate":1300,
"principalTotalLoanYearToDate":11123.28,
"propertyTaxLoanYearToDate":0,
"paymentTotalLoanYearToDate":11572.9,
"interestToDate":449.62,
"principalToDate":9823.28,
"extraToDate":1300,
"principalTotalToDate":11123.28,
"propertyTaxToDate":0,
"paymentTotalToDate":11572.9
},
{
"interestRate":5,
"scheduledMonthlyPayment":3424.3,
"interest":120.32,
"principal":3303.98,
"extra":100,
"principalTotal":3403.98,
"propertyTax":0,
"paymentTotal":3524.3,
"paymentDate":"2014-12-01T01:26:09.758Z",
"remainingLoanBalnce":25472.74,
"loanMonth":4,
"loanYear":1,
"interestLoanYearToDate":569.94,
"principalLoanYearToDate":13127.26,
"extraLoanYearToDate":1400,
"principalTotalLoanYearToDate":14527.26,
"propertyTaxLoanYearToDate":0,
"paymentTotalLoanYearToDate":15097.2,
"interestToDate":569.94,
"principalToDate":13127.26,
"extraToDate":1400,
"principalTotalToDate":14527.26,
"propertyTaxToDate":0,
"paymentTotalToDate":15097.2
},
{
"interestRate":5,
"scheduledMonthlyPayment":3424.3,
"interest":106.14,
"principal":3318.16,
"extra":100,
"principalTotal":3418.16,
"propertyTax":0,
"paymentTotal":3524.3,
"paymentDate":"2015-01-01T01:26:09.758Z",
"remainingLoanBalnce":22054.58,
"loanMonth":5,
"loanYear":1,
"interestLoanYearToDate":676.08,
"principalLoanYearToDate":16445.42,
"extraLoanYearToDate":1500,
"principalTotalLoanYearToDate":17945.42,
"propertyTaxLoanYearToDate":0,
"paymentTotalLoanYearToDate":18621.5,
"interestToDate":676.08,
"principalToDate":16445.42,
"extraToDate":1500,
"principalTotalToDate":17945.42,
"propertyTaxToDate":0,
"paymentTotalToDate":18621.5
},
{
"interestRate":5,
"scheduledMonthlyPayment":3424.3,
"interest":91.89,
"principal":3332.41,
"extra":100,
"principalTotal":3432.41,
"propertyTax":0,
"paymentTotal":3524.3,
"paymentDate":"2015-02-01T01:26:09.758Z",
"remainingLoanBalnce":18622.18,
"loanMonth":6,
"loanYear":1,
"interestLoanYearToDate":767.97,
"principalLoanYearToDate":19777.82,
"extraLoanYearToDate":1600,
"principalTotalLoanYearToDate":21377.82,
"propertyTaxLoanYearToDate":0,
"paymentTotalLoanYearToDate":22145.8,
"interestToDate":767.97,
"principalToDate":19777.82,
"extraToDate":1600,
"principalTotalToDate":21377.82,
"propertyTaxToDate":0,
"paymentTotalToDate":22145.8
},
{
"interestRate":5.25,
"scheduledMonthlyPayment":3151.39,
"interest":81.47,
"principal":3069.92,
"extra":100,
"principalTotal":3169.92,
"propertyTax":0,
"paymentTotal":3251.39,
"paymentDate":"2015-03-01T01:26:09.758Z",
"remainingLoanBalnce":15452.25,
"loanMonth":7,
"loanYear":1,
"interestLoanYearToDate":849.44,
"principalLoanYearToDate":22847.75,
"extraLoanYearToDate":1700,
"principalTotalLoanYearToDate":24547.75,
"propertyTaxLoanYearToDate":0,
"paymentTotalLoanYearToDate":25397.19,
"interestToDate":849.44,
"principalToDate":22847.75,
"extraToDate":1700,
"principalTotalToDate":24547.75,
"propertyTaxToDate":0,
"paymentTotalToDate":25397.19
},
{
"interestRate":5.25,
"scheduledMonthlyPayment":3151.39,
"interest":67.6,
"principal":3083.79,
"extra":100,
"principalTotal":3183.79,
"propertyTax":0,
"paymentTotal":3251.39,
"paymentDate":"2015-04-01T00:26:09.758Z",
"remainingLoanBalnce":12268.46,
"loanMonth":8,
"loanYear":1,
"interestLoanYearToDate":917.05,
"principalLoanYearToDate":25931.54,
"extraLoanYearToDate":1800,
"principalTotalLoanYearToDate":27731.54,
"propertyTaxLoanYearToDate":0,
"paymentTotalLoanYearToDate":28648.58,
"interestToDate":917.05,
"principalToDate":25931.54,
"extraToDate":1800,
"principalTotalToDate":27731.54,
"propertyTaxToDate":0,
"paymentTotalToDate":28648.58
},
{
"interestRate":5.25,
"scheduledMonthlyPayment":3151.39,
"interest":53.67,
"principal":3097.72,
"extra":100,
"principalTotal":3197.72,
"propertyTax":0,
"paymentTotal":3251.39,
"paymentDate":"2015-05-01T00:26:09.758Z",
"remainingLoanBalnce":9070.74,
"loanMonth":9,
"loanYear":1,
"interestLoanYearToDate":970.72,
"principalLoanYearToDate":29029.26,
"extraLoanYearToDate":1900,
"principalTotalLoanYearToDate":30929.26,
"propertyTaxLoanYearToDate":0,
"paymentTotalLoanYearToDate":31899.98,
"interestToDate":970.72,
"principalToDate":29029.26,
"extraToDate":1900,
"principalTotalToDate":30929.26,
"propertyTaxToDate":0,
"paymentTotalToDate":31899.98
},
{
"interestRate":5.25,
"scheduledMonthlyPayment":3151.39,
"interest":39.68,
"principal":3111.71,
"extra":100,
"principalTotal":3211.71,
"propertyTax":0,
"paymentTotal":3251.39,
"paymentDate":"2015-06-01T00:26:09.758Z",
"remainingLoanBalnce":5859.03,
"loanMonth":10,
"loanYear":1,
"interestLoanYearToDate":1010.41,
"principalLoanYearToDate":32140.97,
"extraLoanYearToDate":2000,
"principalTotalLoanYearToDate":34140.97,
"propertyTaxLoanYearToDate":0,
"paymentTotalLoanYearToDate":35151.37,
"interestToDate":1010.41,
"principalToDate":32140.97,
"extraToDate":2000,
"principalTotalToDate":34140.97,
"propertyTaxToDate":0,
"paymentTotalToDate":35151.37
},
{
"interestRate":5.25,
"scheduledMonthlyPayment":3151.39,
"interest":25.63,
"principal":3125.76,
"extra":100,
"principalTotal":3225.76,
"propertyTax":0,
"paymentTotal":3251.39,
"paymentDate":"2015-07-01T00:26:09.758Z",
"remainingLoanBalnce":2633.27,
"loanMonth":11,
"loanYear":1,
"interestLoanYearToDate":1036.04,
"principalLoanYearToDate":35266.73,
"extraLoanYearToDate":2100,
"principalTotalLoanYearToDate":37366.73,
"propertyTaxLoanYearToDate":0,
"paymentTotalLoanYearToDate":38402.77,
"interestToDate":1036.04,
"principalToDate":35266.73,
"extraToDate":2100,
"principalTotalToDate":37366.73,
"propertyTaxToDate":0,
"paymentTotalToDate":38402.77
},
{
"interestRate":5.25,
"scheduledMonthlyPayment":3151.39,
"interest":11.52,
"principal":2633.27,
"extra":0,
"principalTotal":2633.27,
"propertyTax":0,
"paymentTotal":2644.79,
"paymentDate":"2015-08-01T00:26:09.758Z",
"remainingLoanBalnce":0,
"loanMonth":12,
"loanYear":1,
"interestLoanYearToDate":1047.56,
"principalLoanYearToDate":37900,
"extraLoanYearToDate":2100,
"principalTotalLoanYearToDate":40000,
"propertyTaxLoanYearToDate":0,
"paymentTotalLoanYearToDate":41047.56,
"interestToDate":1047.56,
"principalToDate":37900,
"extraToDate":2100,
"principalTotalToDate":40000,
"propertyTaxToDate":0,
"paymentTotalToDate":41047.56
}
],
"numberOfPayments":12,
"monthlyPayment":3424.3
}