#!/usr/local/bin/perl @m = ("Foo","Jan","Feb","Mar","Apr","May","Jun","Jul","Aug","Sep","Oct","Nov","Dec", "B/W"); print <Prepayment Mortgage Reduction

Prepayment Mortgage Reduction

Header read(STDIN,$arglist,$ENV{'CONTENT_LENGTH'}); if (length($arglist) < 3) { print< This form allows you to see how prepaying your mortgage reduces the length of your mortgage by putting in the current values for your loan. If you know your current principle balance and principle/interest payment, enter then in fields A1 and A2. Otherwise enter the three values for your loan in B1, B2 and B3. (Original Loan Amount, Month of First Payment, Length of Loan). EOF exit; } @iv = split("&",$arglist); for ($i=0; $i<=$#iv; $i++) { ($key,$val) = split("=",@iv[$i]); $aa{$key} = $val; } if ($aa{H} eq "B") { $tt = $aa{L} * 12; $mi = $aa{I} / 1200; $temp = (1.0 / (1 + $mi) ** $tt); if ($temp < 1) { $aa{P} = sprintf("%6.2f", $aa{O} * $mi / (1 - $temp)); } else { $aa{P} = sprintf("%6.2f", $aa{O} / $tt); } print "

Your Monthly Payment (excl. Tax & Insur.) is \$ $aa{P}

\n"; $dt = `date`; ($wd,$mo,$dy,$tm,$tz,$cy) = split(" ",$dt); $cm = (index("JanFebMarAprMayJunJulAugSepOctNovDec",$mo)+3)/3; $ps = $cy * 12 + $cm - $aa{Y} * 12 - $aa{M} + 1; $start = $aa{O}; for ($i = 0; $i < $ps; $i++) { $start = $start - $aa{P} + ($start * $mi); } $aa{B} = sprintf("%12.2f",$start); print "

Since Your First Payment was in $aa{M} / $aa{Y} , "; print "You have made $ps payments so "; print "your balance ($cm / $cy ) has changed from \$ $aa{O}\n"; print "to \$ $aa{B}

\n"; } if ($aa{A} eq "B") { $tot = $aa{P}; $bw = $aa{P}/2; print <Starting with \$ $aa{B} at $aa{I} % and a payment of \$ $aa{P}

Using a biweekly schedule means
two extra principal payments a year of \$ $bw

ResHeaderB } else { $tot = $aa{P} + $aa{A}; print <Starting with \$ $aa{B} at $aa{I} % and a payment of \$ $aa{P}

Paying an extra \$ $aa{A} a month (\$ $tot/month total) means:

ResHeader } $mi = $aa{I} / 1200; if ($aa{X} > 0) { $inc = (1 + $aa{X} / 100); print "

Each year the Monthly Payment will increase by $aa{X} %

\n"; } print "\n"; print "

Month	(Year)	Balance	Payment	Interest	Paid Principle\n"; # Amortize it while ($aa{B} > 0 && $m < 1200) { $m++; $intv = $aa{B} * $mi; $intt = $intt + $intv; $pp = $tot - $intv; $aa{B} = $aa{B} - $pp; printf ("
%3d	%5.2f	%9.2f	%9.2f	%9.2f	%9.2f\n", $m, $m/12, $aa{B}, $tot, $intv, $pp); if ($aa{A} eq "B") { $c6++; if ($c6 == 6) { $bw = $tot/2; $aa{B} = $aa{B} - $bw; $c6 = 0; printf ("
BW	-	%9.2f	%9.2f	-	%9.2f\n", $aa{B}, $bw, $bw); } } $c12++; if ($c12 == 12 && $inc > 1) { $tot = $tot * $inc; $c12 = 0; } } $ys = sprintf("%5.2f",$m/12); print < So your loan will terminate in $m months ($ys years) NOTE: Make sure prepaying is really the best alternative for you! Check out prepayment versus investing comparison for more info. And for goodness sakes, pay off all your high interest credit cards and car loans before even considering prepaying your mortgage. Trailer

Prepayment Mortgage Reduction

Change these fields as desired:

* = Enter B here to do a biweekly conversion from here.

Your Monthly Payment (excl. Tax & Insur.) is \$ $aa{P}

Since Your First Payment was in $aa{M} / $aa{Y} , "; print "You have made $ps payments so "; print "your balance ($cm / $cy ) has changed from \$ $aa{O}\n"; print "to \$ $aa{B}

Using a biweekly schedule means
two extra principal payments a year of \$ $bw

Paying an extra \$ $aa{A} a month (\$ $tot/month total) means:

Each year the Monthly Payment will increase by $aa{X} %

So your loan will terminate in $m months ($ys years)

A1. Current Principle Balance (if known)
A2. Current Prin+Int Monthly Payment

B1. Original Principle Balance (otherwise)
B2. Month of First Payment (otherwise)	-
B3. Length of Mortgage (Years)

Current Annual Interest Rate
Additional Monthly Pre-Payment*
Increase Monthly Payment each year by (%)

Prepayment Mortgage Reduction

Change these fields as desired:

* = Enter B here to do a biweekly conversion from here.

Your Monthly Payment (excl. Tax & Insur.) is \$ $aa{P}

Since Your First Payment was in $aa{M} / $aa{Y} , "; print "You have made $ps payments so "; print "your balance ($cm / $cy ) has changed from \$ $aa{O}\n"; print "to \$ $aa{B}

Using a biweekly schedule means two extra principal payments a year of \$ $bw

Paying an extra \$ $aa{A} a month (\$ $tot/month total) means:

Each year the Monthly Payment will increase by $aa{X} %

So your loan will terminate in $m months ($ys years)

Using a biweekly schedule means
two extra principal payments a year of \$ $bw