ÿþ<HTML> <HEAD> <TITLE>Interest Only Mortgage Calculator</TITLE> <META HTTP-EQUIV="Content-Type" CONTENT="text/html; charset=iso8859-1"> <META NAME="description" CONTENT="Financial Calculators, ©1998-2010 KJE Computer Solutions, LLC. For more information please see http://www.dinkytown.net"> <STYLE> <!-- BODY, TABLE, TD, TH, UL, OL, DD, DL, P, BR { font-family: helvetica, arial, sans-serif; font-size: 10pt; } H1 { font-family: helvetica, arial, sans-serif; font-size: 13pt; font-weight: bold; } DT { font-family: helvetica, arial, sans-serif; font-size: 10pt; font-weight: bold; } P.footer { font-family: helvetica, arial, sans-serif; font-size: 9pt; } DIV.large { font-family: helvetica, arial, sans-serif; font-size: 13pt; font-weight: bold; } --> </STYLE> </HEAD> <!-- Financial Calculators, ©1998-2008 KJE Computer Solutions, LLC. 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For more information please see: <A HREF="http://www.dinkytown.net">http://www.dinkytown.net</A> --> <H1>Interest Only Mortgage Calculator</H1><P>Use this calculator to generate an amortization schedule for an interest only mortgage. Quickly see how much interest you will pay and your principal balances. You can even determine the impact of any principal prepayments! Press the "View Report" button for a full yearly or monthly amortization schedule.<P><CENTER> <!--[if IE]><object name="calculator" classid="clsid:8AD9C840-044E-11D1-B3E9-00805F499D93" codebase="http://java.sun.com/update/1.6.0/jinstall-6-windows-i586.cab#Version=1,4,0,0" height="380" width="565"><param name="code" value="MortgageInterestOnly" /><param name="archive" value="dinkytown.jar" /> <P style="font-size:1px; color: #ffffff" line-height: 1px><![endif]--><![if !IE]><P style="font-size:1px; color: #ffffff" line-height: 1px><![endif]></P><![if !IE]><APPLET name="calculator" code="MortgageInterestOnly.class" align="baseline" WIDTH="565" HEIGHT="380" archive="dinkytown.jar"><![endif]> <PARAM name="TERM_MAXIMUM" value="40"> <PARAM name="TERM_SHOW_ALL" value="false"> <PARAM name="SHOW_ALL_MAXIMUM" value="30"> <PARAM name="INTEREST_RATE" value="5.00"> <PARAM name="TERM" value="5"> <PARAM name="FULL_LOAN_TERM" value="30"> <PARAM name="LOAN_AMOUNT" value="100000"> <PARAM name="PREPAY_AMOUNT" value="0"> <PARAM name="PREPAY_STARTS_WITH" value="1"> <!--CUSTOM PARAMETERS--> <PARAM name="TEXT_FOR_REPORT" value="<HTML> <HEAD> <TITLE>Interest Only Mortgage Calculator</TITLE> <META HTTP-EQUIV='Content-Type' CONTENT='text/html; charset=iso8859-1'> <META NAME='description' CONTENT='Financial Calculators, &QCPQ;1998-2010 KJE Computer Solutions, LLC. For more information please see http://www.dinkytown.net'> <STYLE> <!-- BODY, TABLE, TD, TH, UL, OL, DD, DL, P, BR { font-family: helvetica, arial, sans-serif; font-size: 10pt; } H1 { font-family: helvetica, arial, sans-serif; font-size: 13pt; font-weight: bold; } DT { font-family: helvetica, arial, sans-serif; font-size: 10pt; font-weight: bold; } P.footer { font-family: helvetica, arial, sans-serif; font-size: 9pt; } DIV.large { font-family: helvetica, arial, sans-serif; font-size: 13pt; font-weight: bold; } --> </STYLE> </HEAD> <BODY bgcolor='#FFFFFF' LINK='#003399' VLINK='#666666' BGCOLOR='#FFFFFF'> <CENTER><table border=0 bgcolor='#000000' width=468 cellspacing=1 cellpadding=0><tr><td width='100%'><table bgcolor='#FFFFDD' border=0 width=468 cellspacing=1 cellpadding=5><tr><td width='100%' align=center valign=middle><DIV class=large>Interest Only Mortgage </DIV></td></tr></table></TD></TR></TABLE></CENTER> <H1>Your payment is MONTHLY_PI with an interest rate of INTEREST_RATE.</H1>**GRAPH** <P>Your payment of MONTHLY_PI is fixed for RECAST_TO_AMORTIZE_YEARS years while your mortgage payments are interest only. After RECAST_TO_AMORTIZE_YEARS years of interest only payments, your monthly payment will increase to FULLY_INDEXED_PAYMENT. This will pay off the loan balance in full after a total of TERM years (this does not include any prepayments).<P> <CENTER><table border=0 bgcolor='#000000' width=95% cellspacing=1 cellpadding=0><tr><td width='100%'><table bgcolor='#FFFFFF' border=0 width=100% cellspacing=1 cellpadding=5> <TR BGCOLOR='#CCCCCC'><TD COLSPAN=2><CENTER><B>Interest Only Mortgage Summary</B></CENTER></TD></TR> <TR><TD valign=top><b>Payments</b></TD><TD>RECAST_TO_AMORTIZE monthly payments of MONTHLY_PI<BR> REMAIN_AFTER_AMORTIZE monthly payments of FULLY_INDEXED_PAYMENT</TD></TR> <TR><TD><b>Loan amount</b></TD><TD>LOAN_AMOUNT</TD></TR> <TR><TD><b>Interest rate</b></TD><TD>INTEREST_RATE</TD></TR> <TR><TD><b>Interest only term</b></TD><TD>RECAST_TO_AMORTIZE_YEARS years</TD></TR> <TR><TD><b>Total Term</b><BR>(Including interest only period)</TD><TD valign=top>TERM years</TD></TR> <TR BGCOLOR='#CCCCCC'><TD><b>Total payments</b></TD><TD>TOTAL_OF_PAYMENTS</TD></TR> <TR BGCOLOR='#CCCCCC'><TD><b>Total interest paid</b></TD><TD>INTEREST_PAID</TD></TR> </TABLE></TD></TR></TABLE> </CENTER> <H1>Prepayment Results</H1><P>Principal prepayments on your mortgage can save you a great deal of interest. Below is a summary of your proposed prepayments. <P> <CENTER><table border=0 bgcolor='#000000' width=95% cellspacing=1 cellpadding=0><tr><td width='100%'><table bgcolor='#FFFFFF' border=0 width=100% cellspacing=1 cellpadding=5> <TR BGCOLOR='#CCCCCC'><TD COLSPAN=2><CENTER><B>Prepayment Summary</B></CENTER></TD></TR> <TR><TD><b>Amount</b></TD><TD>PREPAY_AMOUNT PREPAY_TYPE</TD></TR> <TR><TD><b>Start with payment</b></TD><TD>PREPAY_STARTS_WITH&NBSP;</TD></TR> <TR><TD><b>Total payments</b></TD><TD>PREPAY_TOTAL_OF_PAYMENTS&NBSP;</TD></TR> <TR><TD><b>Total interest</b></TD><TD>PREPAY_INTEREST_PAID&NBSP;</TD></TR> <TR BGCOLOR='CCCCCC'><TD><b>Interest savings</b></TD><TD>PREPAY_INTEREST_SAVINGS&NBSP;</TD></TR> </TABLE></TD></TR></TABLE> </CENTER> <P><DIV class=large>Payment schedule</DIV> <HR SIZE=1> **REPEATING GROUP** <BR> <HR SIZE=1> <CENTER><P class=footer> Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues. </P></CENTER><br><br> </BODY> </HTML> "> <H1><CENTER>This Financial Calculator requires SUN's Java"! Plug-in. If you see this message you will need to download SUN's Java"! Plug-in. This can be done automatically by clicking the yellow bar at the top of your browser and choosing  Install ActiveX Control . </CENTER></H1> <OL> You can also get SUN's Java"! Plug-in here: <A href="http://www.java.com/en/download/download_the_latest.jsp" target=_blank><b>Get the Java"! Plug-in!</b></A> <P>For more information about this Plug-in please visit: <A href="http://www.dinkytown.net/money/sunjvm.html" target=_blank><b>SUN's Java"! Plug-in</b></A> <BR>For more information these financial calculators please visit: <A href="http://www.dinkytown.net" target=_blank><b>Financial Calculators from KJE Computer Solutions, LLC</b></A> </OL><!--[if IE]></OBJECT><![endif]--><![if !IE]></APPLET><![endif]> </CENTER><CENTER><SCRIPT>document.write(showbuttons())</SCRIPT> </CENTER> <H1>Definitions</H1><P><TABLE align='center' WIDTH="95%"><TR><TD><DL><!--DEFN_START--> <DT><B>Mortgage amount</B><DD>Original or expected balance for your mortgage.<P> <DT><B>Term of loan</B><DD>The total number of years over which you will make payments on this mortgage. This calculator assumes that after any interest only period has expired, the monthly payment will increase so that the remaining balance will be amortized over the remaining years of the loan. This will result in the mortgage balance being paid in full at the end of the loan term.<P> <DT><B>Interest only period</B><DD>The number of years this loan requires interest only payments. At the end of this period, the loan payment will increase so that the remaining balance will be amortized over the remaining years of the loan.<P> <DT><B>Interest rate</B><DD>Annual interest rate for this mortgage.<P> <DT><B>Monthly payment</B><DD>This is the initial monthly payment. This payment includes only the interest on the loan balance.<P> <DT><B>Total payments</B><DD>Total of all monthly payments over the full term of the mortgage. This total payment amount assumes that there are no prepayments of principal.<P> <DT><B>Total interest</B><DD>Total of all interest paid over the full term of the mortgage. This total interest amount assumes that there are no prepayments of principal.<P> <DT><B>Prepayment type</B><DD>The frequency of prepayment. The options are: none, monthly, yearly, and one-time payment.<P> <DT><B>Prepayment amount</B><DD>Amount that will be prepaid on your mortgage. This amount will be applied to the mortgage principal balance, based on the prepayment type.<P> <DT><B>Start with payment</B><DD>This is the payment number that your prepayments will begin with. For a one time payment, this is the payment number that the single prepayment will be included in. All prepayments of principal are assumed to be received by your lender in time to be included in the following month's interest calculation. If you choose to prepay with a one-time payment for payment number ZERO, the prepayment is assumed to happen before the first payment of the loan.<P> <DT><B>Savings</B><DD>Total amount of interest you will save by prepaying your mortgage. <!--DEFN_END--></DL></TD></TR></TABLE> <BR> <HR SIZE=1> <CENTER> <P class=footer> Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues. </P></CENTER> <BR> </BODY> </HTML>