HOME LOAN ANALYZER
by JIM SKINNERFor the first time ever, a former Atari Program Exchange product
is being reprinted in Antic. Home Loan Analysis won first prize
in the APX summer 1983 contest. The menu driven BASIC program makes
it easy to track your mortgage or car payment status-runs on all Atari
computers with 24K disk or 16K cassette.
The Home Loan Analysis program swiftly and
easily calculates everything you'd need to know about a home mortgage-or
about virtually any long term loan such as automobile payments.
You can find out:
- What your monthly payments will be.
- How much each payment reduces the amount you owe.
- How much interest you have paid.
- How much you can afford to borrow.
- Which loan source gives you the best deal.
- What is the current value of your property.
The information you will need to enter into the program is: interest rate, original purchase price, down payment, balloon payment, time length of the loan. it's also helpful, though not necessary, to know when the first payment was made and a recent appraised value. Home Loan Analysis does not calculate the tax and insurance that are part of your monthly payments.
STARTING OUT
Type in the program, checking each line with TYPO II, and SAVE a copy before you RUN it. When the title screen has finished loading, press [START] to move to the main menu screen. You will see:
Purchase Price .. 25000
Down Payment .. 2500
Interest Rate . .11.9
Balloon Payment .. = > 0
Length of Loan in Years ..10
Monthly Payment .321.51
Year of First Payment ..1980
Month of First Payment 1
Amortization Year 1994
Calculate Amortization Schedule
Appraised Value . ..55000
Appraised Year 1980
Appreciation Rate . 6.36
Resale Value . 90000
Resale Year . .1990
Print This information Print
OPTION=up SELECT=down START=compute
Type a number and then press RETURN
Home Loan Analysis comes with pre-set values. You change
these to your own figures by following the prompts in the box at the bottom
of the screen. Only typed-in numbers and decimal point will be recognized
by the program.
[OPTION] moves the blinking cursor arrow up and [SELECT] moves
the cursor down. Enter all the factors you want to change, pressing
[RETURN] after each entry. Then move the blinking arrow next to one
of the values you want to have calculated and press [START].
For example, the program can calculate Monthly Payment and Appreciation
Rate. But if you enter your own Monthly Payment, the program can
calculate maximum purchase price with your specified Down Payment, Balloon
Payment and Interest Rate.
If you don't know your Year or Month of First Payment, just
type [1] on those menu lines.
You can get a 12-month Amortization Table that shows you how
much of each payment goes to reduce the loan, how much pays interest, and
what the remaining balance is each month. Type in a year on the Amortization
Year line, move the blinking arrow down to Calculate Amortization Schedule
and press [START].
Any 40 or 80 column printer can be used to give you a printout.
Press [START] when the blinking arrow points to Print This Information.
SAMPLE USE
Here's an example of how the program would work: Suppose you're considering
buying a $75,000 house with $6,000 down payment, at 15 % interest for 30
years. Type these four numbers on the appropriate lines, pressing
[RETURN] after each entry Then press [START]. The correct monthly
payment will be calculated as $872.47.
To see what the change would be if you got a 13 % loan, type
[1] [3] on the Interest Rate line and press [START]. Monthly Payment
will be recalculated to $763.28.
Jim Skinner lives in Orlando, Florida where he has 10 years of mainframe
computer experience with AT&T Information Systems. He's been
writing Atari programs since 1981.
Listing: HOMELOAN.BAS Download