This is all in one Loan Comparison Calculator with prepayment, chart, amortization table and lot of additional features. This Loan EMI Calculator can be used as Home Loan Comparison Calculator, Home Renovation EMI Comparison Calculator, Personal Loan Comparison Calculator, Car Mortgage Comparison Calculator and Two-Wheeler EMI Comparison Calculator. Apart from these simple calculator, it can also be used as Payday Mortgage Comparison Calculator, Credit Card EMI Calculator, Small Business Mortgage Comparison Calculator, Agriculture Loan Comparison Calculator, Gold EMI Comparison Calculator, Education Loan Comparison Calculator, Consumer Durable Loan Comparison Calculator and many more types of calculators.
Note: (1) There are lot of differences in google spreadsheet and excel sheet. Due to which we have created separate version for spreadsheets. (2) You need to click on “Enable Editing” option when you see “Protected View” default error message in excel spreadsheet.
What is Mortgage Payoff Statement?
Mortgage Payoff Statement is a legal document created by lender offering the payoff quote for a mortgage loan. A Payoff Statement usually show the remaining balance required to pay back to lender to close the loan. Borrower can request lender to provide Mortgage Payoff Statement for review, analysis or closure of a loan.
Mortgage Payoff Statement consist of details like: remaining balance, rebate or penalty for prepayment, loan closing charges, processing charges along with any other additional fees. Payoff statements provides final amount to a borrower for closure of a loan. This document also displays rate of interest, remaining loan period and the amount that will be saved for earlier payoff.
What is Mortgage Payoff Amount?
The final amount is called as Mortgage Payoff Amount. Final amount is the amount you will need to spend to fulfil the terms and conditions of mortgage loan to payoff your debt.
Payoff amount and current mortgage balance are not related to each other. Your current balance will show the remaining principle balance. Payoff amount includes principle amount, interest amount, upfront fees along with any other fees incurred but not paid till date.
What is Mortgage Payoff Date?
Last payment date is called as Mortgage Payoff Date. Usually Mortgage Payoff Date is calculated based on loan tenure. For example: I have borrowed money for 20 years and my loan start date is June 2025. My Mortgage Payoff Date will be June 2045.
There are many factors which can change the Mortgage Payoff Date. Factors like: government subsidized on loan, pre-payment, interest only payment for certain years, change in interest rate, payment method, etc. It is always advisable to get Mortgage Payoff Statement from lender to evaluate your payoff amount, payoff date and more.
What is Loan Comparison?
Loan comparison means comparing wide range of loan types with different financial service providers. Every financial institution have different interest rates and their own method of asset valuation. This differences are mainly based on credit score, credit history and many other factors. Even a base percentage different matters a lot. You can even use Loan EMI Calculator to check for specific loan. Loan comparison calculator is important for research and analysis of different loans. Mortgage comparison calculator tool is use to choose the right option based on your needs.
How to Use Mortgage Comparison Calculator?
It is really simple to use it. You just need to enter few loan details like: Start Date of Loan, Loan Amount, Upfront cost, Interest Rate and Loan Tenure. You can compare 3 data at a time. Rest of all the details like: Loan Comparison Summary, Loan Comparison Chart are automatically updated after entering loan details. This tool will be much useful for businesses related to financial services or an independent financial advisors.
You can briefly analysis data for scenario-1. Details of scenario-1 like: Loan Summary, amortization table and charts are updated with latest values. Play it by changing the EMI payment method, extra payments and view the result for scenario-1. Get the customized look by changing name of the calculator, company name and tagline of your company. You are not allow to re-brand or sell without our written permission. Tool can be use for internal purpose.
Who can Use Loan Comparison Calculator?
Here we have provided Loan Comparison Calculator with interactive amortization table and colourful charts. You can use this all in one Mortgage Comparison calculator as below calculators.
- Personal Mortgage Comparison Calculator
- Home Mortgage Comparison Calculator / House Loan Comparison Calculator
- Car Loan Calculator / Vehicle Loan EMI Comparison Calculator
- Two-Wheeler Mortgage Comparison Calculator / Bike EMI Comparison Calculator
- Home Renovation Loan EMI Calculator
- Payday Loan Comparison Calculator
- Credit Card Mortgage Comparison Calculator
- Small Business Loan Comparison Calculator
- Mortgage Comparison Calculator Against Credit Card
- Consumer Durable Product Loan Comparison Calculator
- Agriculture EMI Comparison Calculator
- Education Mortgage Comparison Calculator
- Gold Loan Comparison Calculator
- And Many More Types of Loans.
You can download EMI Mortgage Comparison Calculator excel sheet or google spreadsheet and play with it. Most importantly you can customize Loan Calculator according to your requirement. This can be used to calculate mortgage payoff date and any pre-payment made by customers. This will really assist you to provide personalized result with interactive charts and data to your customers.