New Website with Built-in Calculator Taking the Guesswork Out of the Mortgage Loan Process
Released on = July 25, 2006, 1:44 am
Press Release Author = Amortization Solutions
Industry = Software
Press Release Summary = The Amortization Calculator is a tool for calculating amortization schedules.
Press Release Body = Stratford, CT - December 9, 2005 -Potential borrowers now have a new place to turn when seeking financial lending assistance. Amortization-Calc.com recently made its Internet debut with the aim of arming would-be borrowers with the information they need to make solid loan decisions. With a user-friendly amortization schedule calculator built right in, the site affords visitors the capability of simply plugging in their loan details and instantly receiving an at-a-glance breakdown of their repayment schedule. Individuals who are considering or are in the process of comparing lending institutions will find plug-and-click assistance online at www.Amortization-Calc.com.
After years of remaining in the attractive 5% window, interest rates are now on the rise, with no end in short sight. According to a recent, Los Angeles Times article, economists predict that 30-year mortgage rates will hit 7% as soon as late 2006. According to a December 2, 2005, BankRate.com weekly national survey of large lenders, the current average 30-year fixed rate mortgage just increased from 6.32% to 6.36%. As a result, money borrowers are becoming more selective in their choice of lenders. Now more than ever, they're embracing the concept of comparative shopping and doing their homework before signing on the dotted line.
Amortization-Calc.com makes shopping around for the best loan schedules as simple as plugging in a few numbers and pressing the "Calculate" button. With the loan amount they're seeking, potential lenders' current interest rates, the desired loan term and the loan's start date at the ready, visitors to the site can quickly discover, by month or by year, precisely how much of their repayments will go toward interest versus principal and what the balance of the loan will be following each installment.
The breakdown process is rather eye-opening and can save the would-be borrower from the "sticker shock" associated with signing a loan agreement before first doing his or her repayment homework. For example, Amortization-Calc.com reveals that a 30-year $100,000 mortgage at the current average interest rate will result in a repayment schedule totaling $224,240.10, meaning that over the course of the loan, the borrower will end up paying back more than twice the amount he or she was lent.
For more information on how you can eliminate the surprise repayment element from the loan process, contact Arseniy Olevskiy at +99 (897) 154-2974 or email him at pr@amortization-calc.com. To learn how you can quickly and accurately estimate your monthly loan repayments, visit the amortization schedule calculator online at www.amortization-calc.com.
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