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LOAN.DOC
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1995-02-17
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Program: Home Loan Diary
Special requirements: None
Description: A very easy to use home mortgage diary and amortization
schedule calculator. Allows the user to see how much money they can
save by making additional principal payments each month to pay off a
loan early. Monthly payments and notes can be entered and saved to
disk.
To begin: LOAN Optional: LOAN [filename]
If the user adds an existing file name on the command line when
invoking LOAN.EXE, the program will load that loan record. In such
cases, you do NOT need the .HLD file extension. Example: If a
previously saved loan file exists as MAIN_ST.HLD, then you can
start the program --> LOAN MAIN_ST [ENTER]
To begin a new loan, and avoid the computation of a bogus loan, the
user can start the program --> LOAN NEW [ENTER]
If no file name is included on the command line when starting the
program, then the program will use a generic loan amount. Use
[B] within the program to change the base loan data. [M] will
allow the user to change their monthly loan payments, add notes,
and change interest rate (on adjustable rate loans).
Features: There are several things that are unique to HOME LOAN DIARY
that you do not find in other mortgage and amortization calculator
programs:
1) HOME LOAN DIARY has the ability to record user notes and
entries with each month's payment. The user can enter check numbers,
dates, etc., which will be permanently saved to disk.
2) Immediate recalculation of the entire amortization
table occurs whenever an additional principal payment is entered or
when the interest rate changes (for adjustable rate loans) during a
particular month. Just as responsive as a Lotus 1-2-3
spreadsheet, HOME LOAN DIARY gives you immediate recalculation based
upon your new input. From the main screen, press the [M] key to edit
the current month's principal payment. After pressing the [M] key,
the user can enter any additional principal that they have paid for
that current month. For adjustable rate mortgages, the user can
modify the interest rate after pressing the [M] key, by pressing
[F1]. Once a new interest rate has been entered, that rate will be
applied to the remainder of the loan from the current month onward.
Previous months' interest rates will not be changed.
3) HOME LOAN DIARY shows you how much money you will save by
paying off your loan early. By making additional payments that are
applied to your outstanding principal, you can save THOUSANDS of
dollars over the period of a loan. This feature alone is worth the
price of registering HOME LOAN DIARY. Setting up "what-if" scenarios
is easy!
4) Scrollable amortization table. HOME LOAN DIARY is one of
the few shareware amortization calculators that allows the user to
scroll forward and backward through a loan table using cursor control
keys. To view the last payment of a loan, press the [END] key. To
view the first payment, press the [HOME] key. Simple! You can also
use the [PG DN] and [PG UP] keys to move in large increments, or use
the [UP ARROW] and [DOWN ARROW] keys to scroll through the table line
by line. Pressing a number key [1] - [9] will cause the table to
move to the payment number that matches the key entry or comes
closest to matching it in sequential order. For instance, if the
current payment number is 2, by pressing the number key [8] will
scroll the table so that payment 8 is at the top of the list. If you
press [8] again, the table will scroll until payment 80 is at the
top.
5) HOME LOAN DIARY was written for the homeowner. Although
mortgage companies, banks and other businesses may likewise find it a
helpful tool to use, this program was kept as simple as possible so
that homeowners could use it with confidence. Since it was written
for the homeowner, it is also one of the few mortgage programs
that encourages the homeowner to pay off his mortgage early, and
shows him why doing so is a very wise investment by revealing the
savings that will result.
Options: All of the options (such as printing, calculator, saving to
disk, etc.) can be performed at the main screen by pressing the
corresponding hot-key. Hot-keys are mnemonic. Press [C] for the
calculator, [P] to print, [S] to save, [R] to retrieve a file, etc.
Saving files: If you enter new base loan data, or add a monthly
payment, or add any new data within the program, you MUST save your
work to disk before you exit the program! Press the [S] key to save
your work. You will then be prompted to enter a file name. All HOME
LOAN DIARY FILES will be automatically saved with a file extension of
".HLD". Do not add this extension - it is done automatically by the
program.
Retrieving files: If you are already within the program, the user can
retrieve a previously saved file by pressing the [R] key. The user
will be presented with a menu of possible .HLD data files. Select
the file you wish to retrieve by using the cursor control keys (arrow
keys) to highlight your selection, then press [ENTER]. The file will
be loaded into memory and calculated, ready for your use. The user
can also retrieve a file while still at the DOS command line by
adding the filename of the data file behind the instruction "LOAN"
before pressing [ENTER]. See "To Begin:" above for this optional
method.
Lender data: By pressing the [L] key the user can view or enter the
name of the mortgage lender, lender's address, phone number, and
mortgage account number. This data will be saved to a separate
file when you save the primary .HLD file.
Escrow summary: The user can track their mortgage escrow by using the
"Escrow summary" feature from the Options menu. Six columns can be
set up however the user wishes, each column for an element of their
escrow account. The first column can be used for the monthly amount
for property taxes, the second column for hazard insurance, the third
column for private mortgage insurance, the fourth column for
whatever, and so on... The final column cannot be modified, but is
reserved for a monthly total. The headings can be revised to suit
your loan by pressing "[R] Rename category" and entering new
headings.
Please note: The escrow summary data cannot be printed out in the
current version, although the data is of course saved to disk.
Registration: $20.00 in the U.S.A. (see program).
Author: Philip P. Kapusta, P.O. Box 5423, Falmouth, Va. 22403, USA