Contents

Help Contents for Standard and Professional Editions of Mortgage Wizard

Overview of available features

Running through an example

Amortization Schedule Spreadsheet

Payments Distribution Chart

Keyboard

Mortgage Calculator Keys

Amortization Schedule Keys

Dialog Box Keys

Menus

Mortgage Calculator

Amortization Schedule

How to ...

change the frequency of payment

select calculation mode

select the compounding period

save the amortization schedule

open a previously saved amortization schedule

print the amortization schedule

Additional How to ... for Mortgage Wizard Plus

export the amortization schedule to other applications

put a header on the printout

edit the amortization schedule

add lumpsum payments

change a series of payments

change interest rate

add an optional line of text to the amort.sched.

add or delete footnotes

show your mortgage in chart form

make a summary report


Running through an example
Running through an example.

 	The easiest way to become familiar with Mortgage Wizard Plus is by running through an example. So let's go. Assume you want to find out the monthly payment needed to pay of a $50,000.00 Canadian mortgage loan over a 10 years period at an interest rate of say 10 %, just to take some easy to remember numbers. The first thing we have to do now, is to enter these numbers in the start up mortgage calculator screen. If you started to play already with the mortgage calculator prior to running this example, you have to go back to the start up mortgage calculator screen first. To do this select Monthly from the Freq. Of Pmt menu, select Calculate Payment from the Calc. Mode Menu  and if the Canadian flag is not shown select Canada from the Country menu. We enter 50000 in the Mortgage Amount text box. (You can include comma's, spaces and a $sign, but you don't have to, the program will make it look nice anyway). Now hit the Tab key and enter 10 (or 10 %) in the next text box. Hit the Tab key twice. This puts the insertion point in the Years box. Enter 10 here, and press Enter, or click on the Calculate button. (We left $ 0.00 in the  Remaining Balance box, because we assume in this example that it was our intention to have no balance remaining after the 10 year period.). Mortgage Wizard Plus displays a calculated monthly payment of $655.17. Also shown on the calculator screen is the total of all monthly payments over the selected 10 year period. This total is not 100% correct, because the calculated payment is rounded off to the nearest cent. Most likely your last payment will be either a bit lower or a bit higher than the other payments to correct for payments rounded off to the nearest cent. The amortization schedule will show this correction in the final payment.

Now let's make the amortization schedule. All you need to do is press Alt + A or click on the Am.Sched. button. A blank amortization schedule screen will now be shown as well as a dialog box. The dialog box requests you to select the type of mortgage calculation, starting date and term of mortgage.  We assume that we go for the a conventional method of calculating your mortgage i.e. with fixed interest factors. Next, you enter 10 for the term and you decide whether you want to change the date entry. We press Enter or click on the OK button of the dialog box. The amortization schedule will appear in reasonably short time. The amortization schedule is in the form of a standard Windows application type spreadsheet. You can see other parts of the spreadsheet by using the Page Down and Page Up keys. There are other keys to move around in the spreadsheet. See Amortization Schedule Keys As you can see, your last payment (pmt # 120) will be a bit smaller $654.84 instead of the regular $655.17 payments. This is because the $655.17 is rounded off to the nearest cent.

Editing the Amortization Schedule (possible with MW Plus Only)

a) Lump sum payment(s) and changing a series of payments

Due to increased competition, many financial institutions allow their customers to make lump sum payments e.g. once a year on a regular payment date. Mortgage Wizard Plus makes it easy for you to calculate the effect of lump sum payment(s). Now we go back to our previous example i.e. a $50,000.00 Canadian mortgage at 10% amortized over 10 years. Let's say that, you won money in the lottery and you are considering making a $20,000.00 lump sum payment at the time of say payment number 20. To do this, select Lump sum from the Edit menu. This will bring up a dialog box requesting you to enter the lump sum payment and the payment number. You also have a choice to select whether the lump sum payment is in addition to or instead of the regular payment. We enter 20000 and 20 in the two text boxes, select "in addition to" and press the Enter key. The dialog box disappears and a new amortization schedule will appear. Please note that your mortgage will now be reduced to 66 months. (You are allowed to enter negative numbers for lumpsum payment by preceding your number with a - sign. This may e.g., be used to indicate a legal fee if you missed payments.) Now let's assume that after 3 years you get a better job and you can afford to increase your monthly payments to say $800.00. We select Series of payments from the Edit menu. Again a dialog box will appear. This time it requests you to enter the new payment and at what payment number the new payment becomes effective. We enter 800 and 37 in the two text boxes and press enter. A new amortization schedule will now appear which shows the lump sum payment made and the revised payments. Did you notice that, as a result of these extra payments your mortgage is reduced from 10 years to 5 years, and that you reduced the cumulative interest from $ 28,620.07 to $12.255.87. A nice saving is it not. Please note: If you make lump sum payments and/or increase payments, the program will reduce payment(s) at the end of your amortization schedule if the remaining balance becomes zero. Removing lump sum payments or lowering payments will not automatically add payments to the end of your amortization schedule, because Mortgage Wizard Plus does not know what you want to add. You  can also change payments by simply typing a new payment in a selected  cell in the spreadsheet. After you have made all your entries select Update amort. sched on the Edit menu or press F8 to update the sheet.

 b) Adding or deleting footnotes to the amortization schedule.

To add a footnote to the amortization schedule select Add Footnote from the Edit menu. A dialog asks you for the text of the footnote and to which payment the footnote applies. You type in whatever you is important to you, press Enter or click on OK button and the footnote will appear on your amortization schedule. Add as many footnotes as you like. Scrollbars will appear so you can view all of them. Footnotes can also be added in the lumpsum payment dialog box or the changed payments dialog box. To hide the footnotes from the amortization schedule window select Hide Footnotes from the Options menu. Hiding footnotes does not permanently delete them. You can show the footnotes again by selecting Show Footnotes from the Options menu.  To permanently remove a footnote, double click on the footnote line you want to delete and select Delete Footnote from the Edit menu. The Delete Footnote item on the edit menu is normally grayed (selection not available). It is necessary to double click on a footnote first to ungray the Delete footnotes item.

c) Interest Changes

Your lender may want to keep you as a customer and to do so they decide to drop your interest rate by say 0.5 percent. You can show the effect of this change in your amortization table by selecting Changing interest from the Edit menu and entering the changes in the dialog box. You can also change individual interest rate entries directly in the amortization schedule.

d) Starting date

If you entered the incorrect starting date ( i.e. date of first payment), Select Starting date from the edit menu. A dialog box will appear allowing you to correct the date.

e) Optional line of text

You can add an optional line of text on the amortization schedule and its printout by selecting Optional line of text from the  Edit menu. A dialog box will appear to allow you to type in your name, property address, mortgage number or whatever you wish to show.


Overview

1). Standard Edition (Mortgage Wizard SE)

Mortgage Wizard SE replaces the familiar book with amortization tables. Computer programs are much handier. They let you enter non rounded numbers e.g., 7.95 % for interest rate and 55,678.95 for mortgage amount. An other thing the book cannot do is producing an amortization schedule and a payments distribution chart. Mortgage Wizard lets you print and save the amortization schedule.

Your mortgage can be displayed in a number of interesting windows. These are:

The Mortgage Calculator

Use the Mortgage calculator to calculate payments, remaining balance or duration of your mortgage for Canadian or American mortgages.

The Payments Distribution window

The Payments Distribution window summarizes mortgage facts and shows cumulative interest and principal payments in pie chart form as well as in tabular form. Both dollar values and percentages are shown.

 The Amortization Schedule

The Amortization schedule looks like a standard windows application type spreadsheet with scrolling, screen splitting and formatting features.

2). Professional Edition (Mortgage Wizard Plus)

Mortgage Wizard Plus provides many  additional capabilities and features. They are:

Amortization schedule editing features

* Capability to enter lump sum payments. (can be negative too)

* Capability to enter a series of changed payments.

* Capability to enter changes in interest.

* Capability to add/delete Footnotes. Footnotes can be shown or hidden and printed.

Selection of additional payment periods

Nine payment periods may be selected. These are:

Daily, weekly, bi-weekly, semi-monthly, monthly, bi-monthly, quarterly, 	semi-annual and annual.

Selection of other compounding periods

Select from 6 compounding periods, independant of selected payment period, to do calculations for other types of loans.

Method of Calculating Mortgages

Mortgage Wizard SE calculates mortgages based on fixed equivalent interest factors. With this method, a 28 day month a 30 day month and a 31 day month are treated the same.

Mortgage Wizard Plus is also capable of calculating mortgages based on Exact day factors, a method now employed by many financial institutions. With this method the interest is based on the exact number of days from the previous payment and Feb. 29 is an interest free day. Mortgage calculation based on exact day factors will produce a somewhat different amortization schedule. The amortization table for the Exact day method of calculation has an extra column showing the number of days from the previous payment.

 Summary Reports

The Report menu permits selection of a summary report.

* Select from report for selected term or

* Report based on highlighted rows in the amortization schedule.

Use the report capability to show all mortgage facts for a selectable time period e.g. the year 1996.

Additional Charts

The Charts menu items include:

* A bar chart showing remaining balance and cumulative interest over time.

* A payments line chart showing cumulative total payment, interest portion, 	   principal and remaining balance.

* A payments bar chart showing non cumulative interest principal and total 	  payments.

 	* A payments distribution pie chart.

All charts are automatically scaled to fit the data. All charts will include the effects of lump sum payment, changed payment entries and changes in interest rate. In the bar charts, a bar is shown for each payment date. When one of the charts is selected, it is possible to select the other charts without having to go back to the amortization schedule first.

Exporting the amortization schedule

Mortgage Wizard Plus permits you to save an amortization schedule in the following formats: *.XLS, *.WKS, *.CSV, *.DBF or *.TXT. This enables you to export the amortization schedule to wordprocessor-, spreadsheet-, database- and report writer programs.

In addition, MW Plus can export the amortization schedule via the clipboard to your word processor

These export capabilities can let you decide how to present the mortgage. All you need is imagination.

Customization

MW Plus permits printing of  the amortization schedule, all charts and reports. Every screen can also be copied to the clipboard. Additional extra's include a fixed two line custom header, an optional line of text and footnotes to your amortization schedule printout. Use the header to identify your company name, address, telephone number etc. Use the custom line of text for customer name, mortgage number, property address etc. Footnotes relate to payment numbers in the amortization schedule.


Amortization Table Spreadsheet

The Amortization Schedule spreadsheet

The amortization schedule spreadsheet is very similar in appearance to most Windows application spreadsheets. Each column, headed by the name of a variable contains the data for that particular variable. Each row represents a payment number. Each intersection of a column and a row we call a cell.

There are scroll bars on the right and bottom of the spreadsheet. Clicking on a scroll arrow moves the spreadsheet one cell at a time. Clicking in a scroll bar area moves the spreadsheet a page at a time. Drag the scroll box to move through the spreadsheet rapidly. Press Page Up and Page Down to move up and down through the spreadsheet a page at a time. Use the Home key to move immediately to the first row of a column and the End key to move directly to the last row of a column. The direction keys allow you to move across the spreadsheet cells.

Above the vertical scroll bar and to the left of the horizontal scroll bar are small black bars called splitter bars. Drag them down or to the right to split the spreadsheet into several areas. This allows you to see several parts of a large spreadsheet at once. E.g., you may use the vertical splitter to show the first and last payments in a spreadsheet . Each splitter divides a scroll bar into two separate scroll bars.

The width of each column in the amortization schedule spreadsheet is carefully set. You may wish however to change the width of individual columns. To resize the width of a column, stretch it with the mouse. Place the mouse pointer on the edge of a column name. The pointer will change to the column resizing cursor. Now hold the mouse button and drag the mouse to expand or shrink the column width.

The column format for the display of monetary values may be changed by clicking on the column name. This will bring up a dialog box which enables you to choose another format

Related topic

Amortization Schedule Menus

Running through an example


Payments Distribution Window

The Payment Distribution window may be selected from the Mortgage Calculator  with the Pmt.Distr. button. The Payments Distribution window shows cumulative interest and principal payments in pie chart as well as tabular form. Both percentages and dollar values are shown. Mortgage facts are also summarized on the Payments Distribution screen. For the values entered in the get started example, this screen shows that your final payment can be $0.33 lower. The reason is that payments of 655.17 per month were rounded upwards to the nearest cent. The Payments Distribution screen is meant to provide a mortgage summary. It cannot be used to show the effects of lumpsum payments etc. See the topic How to show your mortgage in chart form for charts that will display the effects of Amortization Schedule editing.

The menu bar of the Payments Distribution screen shows the Select menu. Menu selections provide for copying the screen to the clipboard, printing the screen, hiding/showing the key and return to the Mortgage Calculator screen. If you don't like the position of the key, you can drag it to another location with the mouse. Press the left button on the mouse while dragging the key to the desired location.


Mortgage Calculator Keys

Tab

Moves the cursor to the next text box or button.

Shift + Tab

Moves the cursor to the previous text box or button.

Enter

Starts calculation of the unknown variable. The same function is provided by clicking on the Calculate button.

Shift + Esc

Clears the text boxes for new entries. The same function is provided by selecting Clear All from the mortgage calculator Edit menu.

Alt + A

Selects the Amortization Schedule. The same function is provided by clicking on the Am.Sched. button. The Amortization schedule can only be selected after the missing varable has been calculated first.

Alt + D

Selects the Payments Distribution Chart. The same function is provided by clicking the Pmt.Distr.Chart button. The chart can only be selected after the missing varable has been calculated first.


Amortization Schedule Keys

Arrow Keys

Select a cell in the amortization schedule spreadsheet.

Pg Up

Selects the next page in the amortization schedule spreadsheet.

Pg Dn

Selects the previous page in the amortization schedule spreadsheet.

Home

Move to a cell on the first line in the amortization schedule spreadsheet.

End

Move to a cell on the last line in the amortization schedule spreadsheet.

Enter

 Registers a new entry in the amortization schedule spreadsheet. Pressing Enter does not update the amortization schedule. Use F8 to update.

F5

Returns to the mortgage calculator screen.

F8

Updates the spreadsheet to include the effects of changes in payments and/or interest rates.

F9

Show or hide footnotes (of no value when using the Standard Edition)


Mortgage Calculator Menus

File Menu

Open

Opens a previously saved amortization schedule file (*.mwp)

Print Window

Print the Mortgage Calculator screen

Setup

Opens setup dialog for printer. Does not change the setup for other applications

Applications

Opens a sub menu for selection of various Windows applications

Documentation

Opens a sub menu which permits selection of the manual and other documentation files.

Exit Mortgage Wizard

Exit the Mortgage Wizard program

Edit Menu

Mtge Amt = Rem Bal

Copies the calculated remaining balance to the mortgage amount box. This is intended to make chain calculations. This feature is only enabled when the calculation mode is set for calculating the Remaining Balance (See CalcMode menu).

Paste

Permits pasting of numbers in selected textbox e.g. from a calculator.

Clear All

Clears the Mortgage Calculator text boxes for a new calculation

Copy Text

Copies entered data and calculated values as text to the clipboard.

Copy Window

Copies the complete Mortgage Calculator screen to the clipboard.

Freq.Of Pmt Menu

The frequency of payment permits selection of one of nine payment periods.

Daily (MW Plus Only)

Weekly (MW Plus Only)

Bi-Weekly (MW Plus Only)

Semi-Monthly (MW Plus Only)

Monthly

Bi-Monthly (MW Plus Only)

Quarterly

Semi- Annual (MW Plus Only)

Annual (MW Plus Only)

Country Menu

See related topic: How to select the compounding period

Selections are:

Canada (semi-annual compounding)

USA  (compounding period = payment period)

Other Compounding  (MW Plus Only)  Sub menus are:

Daily

Weekly

Monthly

Quarterly

Annual

Help Menu

The Help menu permits the capability to select on line help and opening of mortgage Wizard Plus documentation files.


Amortization Schedule Menus

File menu

Open

Opens a previously saved amortization schedule file (*.mwp).

Save

Saves the amortization schedule. A Save As dialog box appears if the amortization schedule is saved for the first time.

Save As

A dialog box lets you choose a file name, drive and directory for saving the amortization schedule.

Save for Export in a format compatible with other applications (MW Plus Only)

*.XLS	Microsoft Excel File

*.WKS	Lotus 123 File

*.CSV	Comma Sep. File

*.DBF	DataBase File

*.TXT	Text File

Print Amort.Sched.

Prints the amortization schedule c/w header, custom line of text and footnotes.

Print Sel. Rows

Prints highlighted rows of the amortiztion schedule.

Print Window

Prints the amortization schedule screen

Applications

Opens a sub menu to select a Windows application.

Documentation

Opens a sub menu to select the manual or other documentation files for viewing and/or printing.

Return to Mtge. Calc. F5

Returns to the Mortgage Calculator screen. If the amortization schedule was not saved or if changed, a dialog box will ask you whether you wish to save the amortization schedule first.

Exit Mtge Wizard

Exit the Mortgage Wizard Plus program.

Edit menu (MW Plus Only)

Copy amort.sched.

Copies the amortization schedule as lines of text for each payment to the clipboard.

Copy Window

Copies the amortization schedule as a picture to the clipboard

Update amort.sched.	F8

Re-calculates all data in the amortization schedule spreadsheet to incorporate any changes made in payments and interest rates.

Change date

Permits changing dates in the amortization table

Lumpsum payment

Permits inserting a lumpsum payment. A dialog box will request you the payment, payment number and optional footnote. There are option buttons to select either instead of regular payment or in addition to the regular payment.

Series of payments

Permits inserting a changed series of payments. A dialog box will request you the payment, the payment number when changed payments become effective and optional footnote.

Change interest rate

Permits inserting changes in interest rate. A dialog box will request you the payment, the payment number when changed payments become effective and optional footnote.

Add footnote

Permits inserting a footnote. A dialog will request you the footnote text and the payment number the footnote belongs to.

Delete footnote

Permits deleting a footnote permanently. Deleting a footnote is only possible if a footnote is selected by double clicking on it.

Optional line of text

Clicking on this menu item opens a box for entering your text. this line of text is not saved. Use this line for identifying the property address and mortgage number.

Options menu (MW Plus Only)

Header Text

Permits inserting a fixed header on the amortization schedule printout. A dialog will permit you to enter two lines of text. The header information is automatically saved until changed. You could use this header for company name, address and telephone number.

Hide/Show footnotes

Hiding footnotes will not delete footnotes. It only makes more room for showing the amortization schedule. This menu item toggles from Hide to Show.

Read only

Clicking on this menu item causes the information in the amortization schedule to be frozen. A check mark in front of 'Read only' shows the read only mode. If clicked again, the check mark disappears and the amortization schedule can be edited again.

Charts menu (MW Plus Only)

One of four charts may be selected. The effect of any editing you have done will afect the appearance of these charts.

Menu items are:

Amort. Bar Chart

Amort. Line Chart

Payments Bar Chart

Cum.Payments Pie Chart

Report menu (MW Plus Only)

This menu provides a summary report of either the selected term or the highlighted rows in the amortization schedule.

Menu items are:

Summary report sel'd term

Summary report sel'd rows

Help Menu

The Help menu permits the capability to select on line help and opening of Mortgage Wizard Plus Manual and Readme files.


Dialog Box Keys

Tab

Moves the cursor to the next text box, group of option buttons or regular type push buttons.

Shift + Tab

Moves the cursor to the previous text box, group of option buttons or regular type push buttons.

Enter

The Enter key provides the same function as the OK button

Shift + Esc

This key combination provides the same function as the Cancel button

Up Arrow key, Down Arrow key and Spacebar

 When the focus is on a group of option buttons, use the Up and Down arrow keys to highlight other option buttons. You can subsequently use the spacebar to select the item. Alternatively you can use the mouse to highlight and select the desired button.


Frequency Of Payment

How to change the frequency of payment

Return to the Mortgage Calculator Window if another window is selected and select the desired payment period from the Freq. Of Pmt menu. The Standard Edition permits you to select either monthly or quarterly payments. MW Plus gives you nine possible selections. These are: daily, weekly, bi-weekly, semi-monthly, monthly, bi-monthly, quarterly, semi-annual and annual payments.


Calculation Mode

How to select the calculation mode

The Mortgage Calculator's Calc.Mode menu lets your calculator screen adapt to the variable you wish to calculate. Select Payment, Balance Remaining or Duration of the mortgage.


Compounding Period (country)

How to select the compounding period (Country)

The Mortgage Calculator's Country menu defines how the mortgage is calculated. In Canada e.g., mortgages are calculated semi annually not in advance, but payments are often made monthly, weekly or at some other period. If an annual interest rate is quoted as 10 %. The real interest is in fact .5 x 10% = 5% per half year or 1.05 x 1. 05 x 10% = 10.25% per year. Just for information, this 10.25% also corresponds to a monthly interest rate of 0.8164846052 %. The Wizard will show you the equivalent interest factor for those people who like to know this. You do however not need to be concerned about the technical details of mortgage calculation, since Mortgage Wizard Plus will take care of this for you. In the USA and many other countries, mortgages are mostly calculated per payment period.i.e. If the mortgage payments are made monthly, the compounding period is also monthly. A 10% mortgage is in this case 1/12 x 10% = 0.83333333% per month or an effective rate of 11.216% per year.  Clicking on an item of the Country menu will affect the equivalent interest factor shown on the mortgage calculator and the picture in the right top corner of the calculator screen. A Canadian flag is displayed when Canadian mortgages are selected, whereas the Stars and Stripes indicate selection of USA mortgages. Mortgage Wizard Plus allows you to select 5 additional compounding periods independant of your frequency of payment selection. These are: Daily, weekly, monthly, quarterly and annual compounding.  if any of these other compounding periods are selected. If any of these other compounding periods are selected, money bags will be displayed instead of a Canadian or American flag,


Saving the Amortization Schedule

How to save the Amortization Schedule

The Amortization Schedule's File menu permits you to save an amortization schedule with extension MWP.  *.MWP files can later be opened in Mortgage Wizard for viewing, editing (not possible with Standard Edition) or printing. With MW Plus, it is also possible to save the amortization schedule in a the following formats: *.XLS, *.WKS, *.CSV, *.DBF or *.TXT. by selecting the desired format from the File menu. These file formats are intended for exporting the amortization schedule to wordprocessor-, spreadsheet-, database- or report writer programs.

Related topics

How to open a previously saved amortization schedule

Export the amortization schedule to other applications (MW Plus)


Opening an Amort. Sched. file

How to open a previously saved amortization schedule

The Amortization Schedule's as well as the Mortgage Calculator's File menu permit you to open a previously saved amortization schedule with extension MWP. If the amortization schedule displayed in the amortization schedule window has not been saved or was edited after the file was opened, a dialog will appear, requesting you whether you wish to save the present amortization schedule first. Click yes if you want to keep it. A Save dialog will in this case precede the Open dialog.

Related topics

How to save the amortization schedule

How to export the amortization schedule to other applications (MW Plus only)


Exporting the Amort. Sched.

How to export the Amortization Schedule (MW Plus only)

Export by saving in selected format

The Amortization Schedule's File menu permits you to save an amortization schedule in the following formats: *.XLS, *.WKS, *.CSV, *.DBF or *.TXT. by selecting the desired format from the File menu. These file formats are intended for exporting the amortization schedule to wordprocessor-, spreadsheet-, database- or report writer programs.

Here are some suggestions:

Spreadsheets can generally import files in one or more of the following formats:

a) *.WKS files. These are files in  Lotus 123 format, but other spreadsheet programs such as Microsoft Works can open these files.

b) *.XLS files. These files are in Microsoft Excel format.

c) *.CSV files. These files are text files that use comma's to separate the various fields. It is very likely that you can use this format with your spreadsheet program.

After you have successfully imported a file in your spreadsheet program, you may want to change the format of some columns to currency- or comma format with 2 decimal places. You can delete columns, add columns, calculate sub totals and add other information.

Database programs can likely use files in *.DBF and *.CSV formats. Use the report writer capabilities of your database program or a separate report writer program to make fancy looking reports.

Wordprocessing programs can use the *.TXT files. Select a monospace font for the imported table to make the columns line up properly. Other fonts are not suitable for use with tables, because not all characters are equally wide. Selecting Courier 8 pt will likely be a good choice for dispaying the amortization schedule in your word processor.

Export by using the clipboard

It is also possible to export the amortization schedule by copying to and pasting from the clipboard. The amortization schedule can be copied to the clipboard by selecting Copy Am.Sched. from the Amortization schedule's Edit menu. The amortization schedule is copied to the clipboard as lines of text. Again a monospace font is suggested to make the table look good in your wordprocessor document.

 Related topics

How to save the amortization schedule

How to open a previously saved amortization schedule


Printing the Amortization Schedule

Printing the Amortization Schedule.

Either the complete Amortization Schedule or selected rows can be printed by selecting respectively Print Amort.Sched. or Print Sel'd Rows from the Amortization's Schedule's File menu.

You can select rows in the Amortization Schedule by moving your mouse to the start row and by then dragging the mouse down to the end row, while keeping the left mouse button pressed.

Footnotes are also printed if Print Amort. Sched. is selected. Footnotes are not printed for partial printouts of the Amortization Schedule.

You may use Printer Set Up from the File menu to configure your printer. Reconfiguring of your printer does not afect the setup for other applications.

Related topics

How to put a header on the printout (MW Plus only)

How to add or delete footnotes (MW Plus only)

How to add a line of text to the amortization schedue and printout (MW Plus only)


Adding or deleting a footnote

How to add and delete footnotes (MW Plus only)

The Edit menu on the Amortization Schedule window gives you; the capability to add or delete footnotes. To add a footnote to the amortization schedule select Add Footnote from the Edit menu. A dialog asks you for the text of the footnote and to which payment the footnote applies. You type in whatever is important to you, press Enter or click on the OK button and the footnote will appear on your amortization schedule. The Options Menu lets you either hide or show footnotes. Hiding a footnote does not delete a footnote. It only hides it from view. Add as many footnotes as you like. Scrollbars will appear so you can view all of them. Footnotes can also be added in the lumpsum payment dialog box or the changed payments dialog box. To permanently remove a footnote, double click on the footnote line you want to delete and select Delete Footnote from the Edit menu. The Delete Footnote item on the Edit menu is normally grayed (selection not available). It is necessary to double click on a footnote first to ungray the Delete Footnotes item.

Related topics

How to put a header on the printout (MW Plus only)

How to put a line of text on the amotization schedule (MW Plus only)

Printing the amortization schedule


Showing a Header on the printout

How to add a header on the amortization schedule printout

 (MW Plus only)

The Options menu of the Amortization schedule window gives you the capability to create a fixed two line header which will appear on all subsequent printouts of your Amortization Schedule. The header consists of 0,1 or 2 lines of text. You can use this header to show your company name and address.

Related topics

How to add a line of text to the amortization schedule and printout (MW Plus only)

How to add or delete footnotes (MW Plus only)

How to print the amortization schedule


Mortgage Chart

How to show your mortgage in chart form (MW Plus only)

Charts are an effective tool for presenting information about your mortgage. When the amortization schedule is the active screen, you can select one of four charts from the Chart menu. The four charts are:

a) The amortization bar chart, showing a plot of balance remaining and cumulative total payments. Each bar represents the result after one payment.

b) The amortization line chart, showing balance remaining, cumulative total payment, cumulative interest portion of payments and cumulative principal portion of payments.

c) Payments bar chart, showing 3 plots with common date axis. Each bar represents a payment.

d)  Cumulative payments chart showing principal and interest portion of payments

The effect of any editing i.e. lumpsum payments and changed payments are included in the selected charts. When a chart is selected, the menu bar shows the select menu. From this menu, it is possible to select another chart without need to return first to the amortization schedule screen. Other items on the select menu provide for copying the chart to the clipboard, printing the chart, hiding/showing the key and exiting the chart. If you don't like the position of the key, you can drag it to another location with the mouse. Press the left button on the mouse and drag the key to the desired location.


Summary Report

How to make a Summary Report (MW Plus only)

It is sometimes desirable to get a summary for either the selected term of the mortgage or for a selected number of rows in the amortization schedule. If a summary of only selected rows is desired, drag your mouse with left button pressed over the rows you wish to include in your report. Then select 'Summary of sel'd rows' from the Report menu. The menu of the summary report provides the capability to print the report screen, to copy the report to the clipboard or to exit the report screen.


Editing the Amortization Schedule

How to edit the amotization schedule (MW Plus only)

The Payment and Pct_Int columns in the amortization schedule spreadsheet may be edited by simply selecting a cell and typing in a new value. To register the change select another cell with the mouse or press either an arrow key or press the Enter key. A warning will now appear instructing you to press F8 to update the sheet with re-calculated values for interest payment, balance remaining and cumulative interest. If you have more entries to make you can choose to wait with updating the amortization schedule until all entries you wish to make are done.

If you need to make a series of changes or if you wish to add other items e.g. footnotes, it is more desireable to use the Edit menu.

Related topics: (MW Plus only)

How to add lumpsum payments

How to change a series of payments

How to change interest rate

How to change dates

How to add or delete a footnote

How to add an optional line of text to the amort.sched.


Add lumpsum payment

Lumpsum Payments (MW Plus only)

Many financial institutions allow their customers to make lump sum payments e.g. once a year on a regular payment date. Mortgage Wizard Plus lets you enter lump sum payments in the amortization schedule. To do this, select Lumpsum from the Edit menu. This will bring up a dialog box requesting you to enter the lump sum payment and the payment number. You also have a choice by means of two option buttons to select whether the lump sum payment is in addition to or instead of the regular payment. You can also add text for a footnote if you wish to do so. Press Enter or click on the OK button to return to an updated amortization schedule. If you make lump sum payments or increase payments, the program will reduce payment(s) at the end of your amortization schedule to 0 if the remaining balance becomes zero. Removing lump sum payments or lowering payments will not automatically add payments to the end of your amortization schedule, because Mortgage Wizard Plus does not know what you want to add. You can also change payments by simply typing a new payment in a selected cell in the spreadsheet. After you have made all your entries select Update amort. sched on the Edit menu or press F8 to update the sheet.

PS Your lumpsum payment could also be negative. In this case precede the number with a - sign.

Related topics: (MW Plus only)

How to edit the amortization schedule

How to change a series of payments

How to change interest rate

How to change dates

How to add or delete a footnote

How to add an optional line of text to the amort.sched.


Change a series of payments

Changing a series of payments (MW Plus only)

You can as long as your lender permits you to do so, change a series of payments. Mortgage Wizard Plus has no problem with changing a series of payments in the amortization schedule. To do so, select Change series of payments from the Edit menu. This will bring up a dialog box requesting you to enter the new payment and the payment number the change takes place. You can also add text for a footnote if you wish to do so. Press Enter or click on the OK button to return to an updated amortization schedule. If you increase payments, the program will reduce payment(s) at the end of your amortization schedule to 0 if the remaining balance becomes zero. Lowering payments will not automatically add payments to the end of your amortization schedule, because Mortgage Wizard Plus does not know what you want to add. You can also change payments by simply typing the new payments in a selected cells in the spreadsheet. After you have made all your entries select Update amort. sched on the Edit menu or press F8 to update the sheet.

Related topics: (MW Plus only)

How to edit the amortization schedule

How to add lumpsum payments

How to change interest rate

How to change dates

How to add or delete a footnote

How to add an optional line of text to the amort.sched.


Change Interest Rate in Amort.Sched.

Changing the interest rate (MW Plus only)

If you have a variable interest rate mortgage or if you have been able to negotiate a better rate, Mortgage Wizard plus can adapt to interest rate changes. To do so, select Change interest from the Edit menu. This will bring up a dialog box requesting you to enter the interest rate and the payment number the change takes place. You can also add text for a footnote if you wish to do so. Press Enter or click on the OK button to return to an updated amortization schedule.

Related topics: (MW Plus only)

How to edit the amortization schedule

How to add lumpsum payments

How to change a series of payments

How to add or delete a footnote

How to change dates

How to add an optional line of text to the amort.sched.


Adding a line of text to the Amort. Sched.

How to add an optional line of text to the amort. sched.

(MW Plus only)

You can add an optional line of text on the amortization schedule and its printout by selecting Optional line of text from the Edit menu. A dialog box will appear allowing you to type in your name, property address, mortgage number or whatever you wish to show. This line of text appears underneath the title ' Amortizationschedule for a mortgage with .........payments.'

Related topics: (MW Plus only)

How to edit the amortization schedule

How to add lumpsum payments

How to change a series of payments

How to change interest rate

How to change dates

How to add or delete a footnote

Note:

Users of the Standard Edition will find the message "This Standard Edition is FREE software" in the same screen and printout locations, MW Plus puts the custom line of text.


Changing dates

How to change dates  (MW Plus only)

If you entered the incorrect starting date (or first payment in the case of mortgages with exact day factors), select Change dates from the edit menu. A dialog box will appear allowing you to correct the date(s). If you made any lumpsum payments, changed payments and/or interest rate changes please verify that these changes still occur at the correct dates. It should be sufficient to check for the first occurrence of a change in payment or interest.

Related topics: (MW Plus only)

How to edit the amortization schedule

How to add lumpsum payments

How to change a series of payments

How to change interest rate

How to add or delete a footnote

How to add an optional line of text to the amort.sched.