Main Menu Buttons

Enter/Edit Loan Data

Displays the Loan Directory, from where you can select a Loan Data Sheet for data entry and /or editing.

The Loan Data Sheet also calculates the loan comparison rates, payments and totals.

Fast Load

Using this facility, you can quickly change selected loan data in all loan data sheets and re-calculate.

Loan Comparison

Displays the Loan Comparison Table, where loans are listed in order of best comparison rate.

Print Blank Data Sheets

Blank Data Sheets can be used to collect loan data for entry into this program.

Exit

Exit Program.


Loan Data Sheet

Data Entry:

Lender - the name of the financial institution providing the loan.

Loan Type - the name of the loan or a brief description eg. Fixed for first 12 Months.

Loan Amount - the amount you wish to borrow (the principal of the loan).

Loan Period - the time over which the loan is to be paid out.

Payment Period - how often you make re-payments.

Interest Rates -

int1  for the first ....... Months

int1 is the initial (usually lower) interest rate which applies for a short period. Sometimes referred to as the "honeymoon" rate.

int2 for the next ....... Years

int2 is the rate which applies for the remainder of the loan period, often a variable rate.

Up Front Fees - these are paid at the time the loan is established. Clicking on this field will pop up the up front fees table.

Ongoing Fees - fees which are paid periodically throughout the loan period.

Ongoing Fees Payment Period - how often ongoing fees are paid.

Exit After ..... Years - the time at which you exit the loan ie. if you don't take the loan to the full term and exit (terminate) the loan early.

Exit Fee - (early termination fee) fee paid if the loan is terminated before the end of the full loan period.

Calculate :

When input data is edited all result fields are cleared. To re-calculate, press the Calculate button.

Calculation Modes :There are two sets of options.

1) Select -

i) Normal (that is, Principal & Interest), or

ii) Interest Only.

2) Select -

i) Payments - you specify the loan amount and loan period - the results table and payments are calculated.

ii) Amount      -  you specify  the loan period and payments - the results table and loan amount are calculated.

iii) Period     - you specify the loan amount and payments - the results table and loan period are calculated.

Buttons:

Calculate - calculate all results.

Next ...  - Select the next data sheet.

Prev ...  - Select the previous data sheet.

Print  - Print the data sheet.

Save - saves the data sheet to the data file. Note that loan data must be saved to be included on the loan comparison table.

Close - Close the data sheet and return to the main menu.


Loan Comparison Table

The loans you have entered are listed here in order of lowest loan comparison rate. Those loans with the  lowest rates represent the best value over the term of the loan.

The best value loan is at the top of the list,, ranked 1.

The lender offering the best ranked loan is the most competitive, considering the amount you wish to borrow, the loan period and the exit time you have chosen. It is assumed in this analysis that this competitive position is maintained by the lender over the duration of the loan.

The corresponding loan data sheets are listed in the left most column.

Using the scroll bar, scroll to the right to display more loan data.

Buttons:

Close - return to the main menu.

Edit - to bring a data sheet up on screen for editing, click on the data sheet and press Edit.

Print - print the loan comparison table.

Chart - display loan comparison rate bar chart.


Loan Directory

Click on a data sheet and press Edit to bring the data sheet on screen for editing.

A double click on a data sheet has the same effect.

Using the scroll bar, scroll to the right to display more loan data.

Buttons:

Close - return to the main menu.

Edit - to bring a data sheet up on screen for editing, click on the data sheet and press Edit.

Copy - copies the data contained in one data sheet to another. Click on the data sheet you wish to copy from and then press the copy button. You will then be prompted to enter the data sheet you wish to copy to.

Clear - click on the data sheet you wish to clear and press the clear button. All data in the data sheet will be removed.


Fast Data Load

Using this facility, you can quickly change the selected loan data in all loan data sheets and re-calculate.

Tick the variables you wish to change and enter the desired values. Then press the Load button.

Calculation Results Table:

Indicates for each data sheet if the calculation was successful or incomplete.

 An incomplete calculation may be due to :-

1) Insufficient Data . This would be expected if the data sheet was initially empty and is an acceptable condition.

2) An error in the calculation. This is the case where there is sufficient, but erroneous data.

If you expect  an OK result, but the calculation is incomplete, click on the data  sheet and press edit. This will bring the data sheet on screen for editing. When you close the data sheet, press the Load button again if you want to review the results.

Note that data sheets which register an incomplete calculation result will not be displayed on the loan comparison table.

Buttons:

Load - load data and re-calculate all data sheets.

Close - return to the main menu.

Edit - to bring a data sheet up on screen for editing, click on the data sheet in the results table and press Edit.