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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: loan calculations... further clarification Posted by Alfred B. on September 06, 2001 at 8:29 AM In Reply to: Re: loan calculations posted by Ward-CA- on September 06, 2001 at 6:24 AM Whoa! I'm not sure I'm getting this... Allow me to ensure that I've got this right... 1. So, only add 1/2% if it's off the FHA/VA rate page; use the stated interest rate if you've taken it off the "Housing Interest Rates" page that has the Countrywide rates? And for junior liens always add 4% no matter what page you take the rate off of? 2. So you figure the 1st for a 30 year fixed and calculate it's remaining balance; but you consider the 2nd isn't amortizing so you take the full amount of the 2nd loan and add it to the remaining balance of the 1st to get your estimate of equity? 3. (But if the above is correct, why would you even care what the 2nd's interest rate is if you are not going to calculate remaining balance?) 4. Even if the 2nd is 5-8 years old, you'd still consider that it hasn't amortized and use it's full balance in your calculations? Thanx, Alfred Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Whoa! I'm not sure I'm getting this... Allow me to ensure that I've got this right... : 1. : So, only add 1/2% if it's off the FHA/VA rate page; use the stated interest rate if you've taken it off the "Housing Interest Rates" page that has the Countrywide rates? And for junior liens always add 4% no matter what page you take the rate off of? : 2. : So you figure the 1st for a 30 year fixed and calculate it's remaining balance; but you consider the 2nd isn't amortizing so you take the full amount of the 2nd loan and add it to the remaining balance of the 1st to get your estimate of equity? : 3. : (But if the above is correct, why would you even care what the 2nd's interest rate is if you are not going to calculate remaining balance?) : 4. : Even if the 2nd is 5-8 years old, you'd still consider that it hasn't amortized and use it's full balance in your calculations? : Thanx, : Alfred Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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