Home financing options
For a home that is priced at $599,000.00
and a down payment of 20% $119,800.
- Research 2 different financing options. Use Excel (or other approved spread sheet) to create an amortization schedule for the life of both financing options.
- Write an analysis that compares and contrasts the two financing options in detail.
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Solution Preview
** Please see the attached Excel file for the amortization schedule **
I have attached a spreadsheet that has an amortization schedule for a 30 year fixed rate loan with no points and a 30 year fixed rate loan with points paid. I have made the Excel sheet more complex than required; but I put zeros in those spots in less you want to use them (you could include tax, lower the down payment so that PMI is included, or calculate the tax on the house).
This analysis will compare and contrast two different financing options. The options that were considered for this analysis are a traditional 30 year fixed rate mortgage with no points paid ...
Solution Summary
This solution includes a comparison of two different financing options and an amortization schedule for both options in Excel.