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Advantage Mortgage
775 Main Street
West Dennis, MA
02670
(800) 233-1777 |
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Date
Prepared: 05/09/2003
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Can
today's rates save you money?
MyRateAdvisor™
Your Name
Your Street Address
City, State Zipcode |
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What Does MyRateAdvisor™ Do For
You? |
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1. Shows the current loan data we have on file for
you
2. Compares your loan to a sample of today's current
rates
3. Shows the benefit of pre-paying $100, $200, or
$300 | |
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Section I
Current Loan Data |
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| Start Date: |
11/22/2002 |
| Program: |
Fixed |
Original Balance:
Current
Balance: |
$290,000.00
$288,507.11 |
| Rate: |
5.875% |
| Term: |
360 |
| Remaining Months: |
355 | |
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Payment Breakdown
(excludes
escrows) |
| Principal: |
$301.50 |
| Interest: |
$1,413.96 |
| Total Payment: |
$1,715.46 |
For your property located
at:
Your Property Address
City, State Zipcode |
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Section II
Monthly Payment
Comparisons |
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Program
Name |
Interest
Rate |
APR |
Term
Months |
Current
Payment |
Proposed
Payment |
Monthly
Difference |
| 15 Yr Fixed
|
4.375 |
4.843 |
180 |
$1,715.46 |
$2,188.67 |
$473.21 
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| 30 Yr Fixed
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5.125 |
5.402 |
360 |
$1,715.46 |
$1,570.88 |
($144.58) 
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| 5 Balloon
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4.25 |
5.713 |
360 /60 |
$1,715.46 |
$1,419.28 |
($296.18)
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| 7 Balloon
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4.625 |
5.659 |
360 /84 |
$1,715.46 |
$1,483.33 |
($232.13)
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Section
III
Pre-Payment Scenarios |
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Monthly
Pre-Pay Amount |
Total
Payment
Savings |
Monthly
Payments Saved! |
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$100.00
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$48,011.14 |
46 months |
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$200.00
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$84,152.22 |
81 months |
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$300.00
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$109,154.17 |
107 months | |
| *Pre-paying is not always the
best choice. For example, $300 deposited monthly into a deferred tax
account compounding at 10% (10.47% effective) would grow to over
$678,000.00 in 30 years. Our financial planners can consult
with you and determine the best way to invest. |
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Notes:
Advantage Mortgage provides financial solutions for
professionals, their clients, individuals and their families by assisting
in accomplishing their goals. Our strategies range from debt repositioning
for investment purposes to retirement financing. We have assisted with
simple rate financing to more complicated lowest-non-fixed-rate loans
lowering our clients overall monthly financial obligations.
If you
have any questions or comments, please call 800.233.1777 ext. 350 or email
application@mymortgageresource.com
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* NOTICE:
Information provided is time-sensitive material. Rates, programs, fees and
points are subject to change without notice. If you are applying for an
Adjustable Rate Mortgage, payments and interest rates will change.
Payments, interest rates, and loan balances are estimates only. Your
amount may be different. This is not a loan commitment, nor is it a
guarantee of any kind. |