Have You Used a Loan Amortization Calculator Before?

Posted: under Financing.
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When you are shopping for a loan it is important to know how much the loan will cost overall.  That is where a Loan Amortization Calculator comes in handy.  Have you ever used a loan amortization calculator?

Homer Buyer was looking for a mortgage when he found that there were several different options available.  He thought  a loan was a loan so he didn’t know he would have so many choices. 

One lender offered him an Adjustable Rate Mortgage and another offered a 30 year fixed.  Homer had a hard time getting a handle on the differences between the loans. 

He knew that it was important to understand his mortgage.  Do you know how he knew this?

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Comments (1) Apr 21 2009

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