Get an Interest only mortgage with $1,000 closing costs or simply make extra payments?

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I’m looking for a calculator tool that can help me compare the cash flow options associated with a 10 year interest only loan using the monthly savings to reduce principle vs. simply making additional principle payments on my current mortgage for that period.

I’d like to be able to play “what if” with the tool.

Anybody have something?

2 Comments
  1. Reply
    El Diablo in Mexifornia
    April 29, 2011 at 11:35 pm
  2. Reply
    Sha
    April 30, 2011 at 12:30 am

    Problems usually cannot be solved at the level it is created. I feel that you would need to seek a professional’s advice for more precised calculation. If you are really keen to know how you can better prepare your mortgage repayments, you can email me your contact number. I’m in the business of investment risk management planning, helping people to develop strategies and portfolio to achieve their desired goals.
    Email: Jagspor75@gmail.com
    Enjoy your Life!

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