I have a request for a very niche case, early (principal only) payment made before the first payment is due. This is actionable, because it described the situation of my current mortgage and likely my refinance.
The most comprehensive one I've come across so far is the one on Mortgage Professor. But beside the annoyance of it prompting me to consider refinance when the rate entered exceeds some arbitrary value, it also does not allow the extra payment to be made on month 0, with the minimum applicable value being month 1, after a first installment has been formally paid. There is a minimal (but non-zero) difference between what is actually shown on my mortgage vs what I can see using a calculator.
Does anyone know of a calculator that does what I'm looking for?
Alternatively, I suspect I could "code" things into excel, but I don't know how to implement this.
Thanks in advance.
The most comprehensive one I've come across so far is the one on Mortgage Professor. But beside the annoyance of it prompting me to consider refinance when the rate entered exceeds some arbitrary value, it also does not allow the extra payment to be made on month 0, with the minimum applicable value being month 1, after a first installment has been formally paid. There is a minimal (but non-zero) difference between what is actually shown on my mortgage vs what I can see using a calculator.
Does anyone know of a calculator that does what I'm looking for?
Alternatively, I suspect I could "code" things into excel, but I don't know how to implement this.
Thanks in advance.
Statistics: Posted by InvisibleAerobar — Tue Sep 24, 2024 3:15 pm — Replies 5 — Views 205