Financial / Amortization software - Posted by Matthew Chan

Posted by J.H. on April 13, 1999 at 24:03:50:

Could not beleive it, but it’s true! compusa.com
Thanks for the great tip!

Financial / Amortization software - Posted by Matthew Chan

Posted by Matthew Chan on April 12, 1999 at 24:40:15:

I am looking for some software that emulates what banking institutions or fiancincing companies use to track payments for people who make advance payments or otherwise make non-standard payments that would affect the payoff amount. (jeez, did that make sense?)

It would be nice if this software can generate an amortization schedule and statement for a customer. Is there such a thing out there for a PC running Win98 or NT? Thanks!

Re: Financial / Amortization software - Posted by Patrick (OH)

Posted by Patrick (OH) on April 14, 1999 at 13:30:58:

RealData has a free real estate calculator that does what your looking for.

http://www.realdata.com/

I hope this helps

Re: Financial / Amortization software - Posted by Jeff Porter

Posted by Jeff Porter on April 14, 1999 at 11:02:25:

There is a nice little spread sheet already programmed in Microsoft works you can plug in extra payments. Works well, and it’s easy. I use it to watch my mortgage on.

Good luck
Jeff

Re: Financial / Amortization software - Posted by Carmen

Posted by Carmen on April 13, 1999 at 20:22:06:

I work in international finance (leases/loans), and TValue is our standard. The schedules printed are the ones we use for government documentation, and its passed muster with all the bankers we use, too.

Every time someone tries to use their own spreadsheet, we find out there was a problem with calculating the yield (imagine being 1% off on $50million! People can get pretty unhappy)

TValue does print out amortizations, but not coupons, etc. But it is very easy to use, and to change any particular variable.

Re: Financial / Amortization software - Posted by Mark Pearlstein

Posted by Mark Pearlstein on April 12, 1999 at 19:48:28:

If you’ve already got Lotus 1-2-3 or Excel you already have the functions to generate your own amortization tables without spending any more money.

In Excel you would use the absolute value of the PMT function to get your monthly payment. The function is for the payment of an annuity.

To watch your ending balance go down on a montly basis use this [ending balance]-[prepayment(if any)]-([monthly pmt]-[beg balance]* %interest / 12)

Mark
Save some money and do some math.

Re: Financial / Amortization software - Posted by HankM

Posted by HankM on April 12, 1999 at 19:21:18:

Any decent spreadsheet can do this if you understand what you’re doing. I’m not knocking TValue or Notesmith … just if all you want is an amortization schedule, learn how to use your spreadsheet … it’ll do the job.

HankM

Re: Financial / Amortization software - Posted by David Alexander

Posted by David Alexander on April 12, 1999 at 17:22:51:

NoteSmith works great for what you want. Just got it recently, love it. Tracks payments incoming and outgoing, makes coupons, tax reports, etc.

David Alexander

Re: Financial / Amortization software - Posted by Mike Oldfield

Posted by Mike Oldfield on April 12, 1999 at 01:11:46:

Matt,

I have been using TValue for several years. I really like it. I have put quite a few people on to it and they say they really like it too. The program is inexpensive the documentation is great and it is really easy to use. Their phone number is 714-727-1800. I recommend it highly, Good luck, Mike Oldfield

Re: Financial / Amortization software “OFFICE READY” - Posted by Harvey Carroll, Jr.

Posted by Harvey Carroll, Jr. on April 14, 1999 at 24:07:17:

I’m a finance/real estate major and I write most of the softwares myself; however, I recently bought “Office Ready” by Cannon for 19.95. It does a lot and has some ballon payments also… A variety of excel97 spreadsheets…

TValue – No better than a spreadsheet??? - Posted by Robert

Posted by Robert on April 12, 1999 at 21:00:05:

Mark, I am a little sorry to hear that. I have been doing amortization tables for years on spreadsheets, but I just ordered TValue with the hope that it will address 3 problems.

  1. Everytime I make I make a prepayment I have to rework the table usually deleting a payment or 2 at the end, futzing around with the last payment to get it just the right amount to pay off the loan.

  2. Biweekly Mortgages: Every few years there will be 27 payments in a year. What’s the standard way of computing APR over the term of the mortgage?

3)Given a note with non-periodic payments, find the APR. (With Excel it is trial and error process to figure).

My hope and expectation was that TValue will ease my solution of these problems.

Mark, are you saying TValue can’t really do anything more than a spreadsheet? Maybe I should return it unopened…

Robert

Re: Financial / Amortization software - Posted by Max W.

Posted by Max W. on April 12, 1999 at 07:34:31:

Matthew,

TValue ($129.00) is THE industry standard as far as cashflow software goes. The amortization schedules look good and the program has a tremendous amount of flexibility. It is not a note servicing program though and will not generate tax forms and do reports etc. Notesmith is a note servicing program that is pretty highly respected check out their site at www.notesmith.com for detailed info. Good luck.

-Max-

Re: TValue – No better than a spreadsheet??? - Posted by Mark Pearlstein

Posted by Mark Pearlstein on April 13, 1999 at 10:36:57:

Robert, I can’t really tell you what the other advantages of Tvalue are because I have no experience with that software. I’ve never tried to set up a table for a bi-weekly mortgage but I don’t think it would be a big problem. I believe that you would use the functions that I previously stated except that the number of periods for the annuity would change to 26 or 27 depending upon what days of the year the first and last payments of the year were made on.

I’m not sure how to solve for your #3.

The overall answer is yes a spreadsheet can do all of the same calculations, if you have the time and the knowledge to program it. Otherwise I would look for a deal in the pricing of this software. If you overpaid then return it and look elseware as some of the other posts suggest.

LOL!
Mark

Re: TValue – No better than a spreadsheet??? - Posted by Matthew Chan

Posted by Matthew Chan on April 12, 1999 at 23:04:20:

Yes, you can do it on a spreadsheet but you have to invest the time to format it, create the formulas, etc. Then you have to verify the accuracy, etc. I’ve got other things to worry about then my programming ability. I looked at the box and the web site that describes it. It looks pretty good for my needs now. I’ve been using an old DOS program that I have outgrown.

My time is more valuable than the small cost to buy it. So I pay for software that does the job for me. Besides at $25 at compusa.com, it is a steal. Even at the $80 at the other online stores, it is a bargain.

Re: Financial / Amortization software - Posted by Matthew Chan

Posted by Matthew Chan on April 12, 1999 at 22:56:44:

Thanks for the tip. I am not sure if it is an error or not but I order TValue 4.0 for $20 at Compusa.com. All the other online stores had it around $80. I will find out in a few days if I get TValue for $20. If I do, I suggest everyone go get it there.