This model brings a micro economical point of view to credit risk modeling. The logic behind the model is that in its fundamental, all the money that makes it available to pay the outstanding debt is driven from the total revenue figure. The model is pretty basic and straightforward that it captures the risks arousing from the variations in income statement items pretty well.
This spreadsheet will show you whether refinancing your mortgage will save you money. The right refinancing package can save you thousands of dollars in interest. As much money as refinancing can save you, though, there’s an even faster way to pay off your mortgage, while adding massive equity to your home.
Many experts recommend checking out the option of refinancing if interest rates are at least 1% less than what you’re currently paying. Of course, it depends on the remaining term of your current mortgage, as well as the remaining principal of your current mortgage. And this is the purpose of this spreadsheet being made, to ease your refinancing calculation.
Your buyer may have the down payment, but are their financials strong enough to keep up with your Seller Financed mortgage? With this spreadsheet, you’ll be able to easily calculate their debt load before you hand them the keys. After inputting the borrower and co-borrower’s gross income, payroll deductions and monthly expenses, you’ll be able to instantly determine if their debt-to-income ratio falls within standard guidelines.
This spreadsheet will be useful if you have received a balance-transfer offer in the mail and you are wondering whether or not it could actually save you money.