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type
I am looking for a excel spreadsheet that can compare a fixed rate
mortgage loan to that of an adjutable interest only loan. It would
need to show how much quicker they would pay down their outstanding
balance by making the same payment they are now making versus the
interest only payment. It would have to recalculate when the adj rate
goes up and IDEALLY where the adjustable rate would have to go up to
based on the newly reduced outstanding balance before they would be
hurt as compared to their current fixed rate loan.
mortgage loan to that of an adjutable interest only loan. It would
need to show how much quicker they would pay down their outstanding
balance by making the same payment they are now making versus the
interest only payment. It would have to recalculate when the adj rate
goes up and IDEALLY where the adjustable rate would have to go up to
based on the newly reduced outstanding balance before they would be
hurt as compared to their current fixed rate loan.