Financial Calculators

Unlike the conventional "fixed" senarios for which the calculators were designed, the MMA program uses an Advanced Equity Line of Credit (ALOC). It operates similarly to a primary checking account and uses an open-end interest calculation (rather than a closed-end interest calculation).

The mortgage loan calculators on this page, and the worksheet downloads and chart on the associated "Do The Math" page, will at least demonstrate the advantages of the principal for you. As sophisticated as they are, the calculators are no match the necessary sophistication of the Money Merge Account software.

The calculators will however serve the purpose for which they are provided here—to demonstrate how reducing your morgtage principal can shorten the term of the mortgage note. Instructions for how to use them to evaluate your savings and how soon you may be able to pay off your mortgage are included with the calculator description where appropriate.

A spreadsheet designed for the "Do The Math" page will better demonstrate the way an MAA works.

The results obtained through the following calculators should be considered to be estimates.* You should not rely solely on the results obtained when making financial decisions. When in doubt about any major decision, always consult with a professional.

See also the Debt Management Calculators below. They

Mortgage Calculators

• Mortgage Payment Calculator—includes amortization table—Use this calculator only if you are still paying Private Mortgage Insurance (PMI) on your note. The next calculator provides an amortization table for a 30 with and without additional payments. This mortgage loan calculator that provides the total mortgage payment, including applicable finance charges, hazard insurance, and property taxes (PITI), and Private Mortgage Insurance (PMI) when applicable. The following instructions will help you use this calculator to see the value to you of an MMA:
  
  
  • Get a pencil, and download and print a copy of the "Financing Cost Comparison" work sheet. The work sheet further outlines how to use these calculators
    
    
  • If you paid down less than 20% when you bought your home, remember to figure in the amount you pay for Private Mortgage Insurance (PMI) with the interest on your home loan. Note that the sooner you reduce the principal on your note, the sooner you will be able to eliminate the PMI as well.
    
    
  • When you finish with this calculator, go to the "What If I pay more each month?" calculator.
    
    
• What if I pay more each month?—includes amortization table—This calculator will demonstrate how your principal will be paid down and how the total interest will be reduced when you pay just a little more each month. Use this calculator as follows:
  
  
  • Get a pencil, and download and print a copy of the "Financing Cost Comparison" work sheet. The work sheet further outlines how to use these calculators
    
    
  • This calculator assumes that you opt not to take advantage of the flexibility of an MMA.
    
    
  • Use the results obtained from this calculator to compare your total expenditures (interest and PMI) over the life of your loan that you obtained with the "Mortgage Payment Calculator."
    
    
• Should I Use a HELOC To Pay Down My High Interest Rate Debt?——Among the most useful refinancing loan calculators, this one will help you learn how you can cut current monthly debt payments using money from your HELOC.
  
  
• What are the tax benefits of home ownership?—This calculator is provided FYI, and not intended for analyzing the value to you of an MAA. It will calculate your tax savings after a home purchase. Financial analysis includes annual as well as total tax savings.
  

Debt Management Calculators

The following calculators will help you visualize how a debt reduction strategy can help you keep more of your income for the things that matter most to you. They are provided FYI, and not intended for analyzing the value to you of an MAA. The extent of such calculations is simply beyond the scope of the calculators available to us.

But the Money Merge Account is much more than just an accelerated mortgage payment option. Other debts (e.g. credit card balances, personal loans, overdrafts etc.) can be transferred to the Money Merge Account as well. Note however that yYour MMA may also help with a debt consolidation strategy, and the MMA software is fully capable of analyzing your financing and credit options. For more information, sign up for your free Money Merge Account analysis.

• What is the real cost of paying off my credit cards with minimum payments?—This credit card minimum payment calculator will help you calculate the time and cost if you only make the minimum monthly payment on your credit cards.
  
  
• How Can I Pay Off My Credit Card Debt Sooner?—Calculate how long it will take you to pay off your credit card debt with the amount you pay now, and how much you would have to pay every month to eliminate credit card debt even sooner.

* A number of the variables that will be used in the calculations are estimates. The final result of the calculation will therefore also be an estimate. When in doubt, always consult with a professional.