http://businesscompassllc.com All the interest rate calculations in an easy to use app!

Interest Rate -

Simple Interest
Compound Interest
Effective Annual Rate (EAR)
Effective Annual Cost (EAC)
Nominal/Real Interest Rate
APR

To find more about this app, please visit http://businesscompassllc.com.

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This has happened like clockwork coming into the holiday season the last 3 years. It can be costly to you and possibly kill your loan if you don’t prepare for it properly. If you live in Seattle Area, give me a call at 425-264-7007

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http://www.quickenloans.com/calculator

Ever wonder how much interest you pay over the life of your mortgage? Ever wonder how much an interest rate affects how much money you pay over the life of your mortgage? Ever wondered how much you could save it you made extra payments on your mortgage?

Well, wonder no more!

With Quicken Loans new mortgage amortization calculator, you can get all of this great information in just seconds.

Here’s how our mortgage amortization calculator works:

Step 1:
Go to http://www.quickenloans.com/calculator

Step 2:
Enter your current (or desired) loan amount, choose a term of 15 or 30 years, enter your desired interest rate (such as 4%), choose your state and then hit the Calculate button

Step 3:
In a few seconds we’ll show you a chart that shows your interest and principal payments over the life of your loan. The gold area are your interest payments, and the red area your principal payments. You can see how much of both you pay at any time during you loan. Plus you’ll see every month’s individual payment explained below the graph.

Pretty cool, huh? You haven’t seen anything yet.
This is where it gets interesting.
Step 4:
Go back to your inputs and add an extra payment. You’ll be surprised how it changes your results. In this example we’ll pick an extra annual payment that’s exactly the same as the monthly payment. So, basically, you’re paying 13 mortgage payments a year instead of 12. If you did this, you’d save over $23,000 in interest and have 51 less months of payments! You can change the extra payment to be a one-time only payment or even a monthly payment. Play around with the numbers. You’ll be shocked at how even making an extra $50 payment each month toward your principal can change your numbers over the life of your loan. Paying a little extra now is like investing in your future. You’ll have more money later to enjoy life — and isn’t that what it’s all about?

Now here’s the best part of all. We’re about to find out how lower interest rates allow you to pay tens of thousands of dollars less on interest.

Step 5:
Once again, let’s go back to our inputs, but now let’s change our mortgage rate. Keeping our same numbers, let’s try a different rate. How about 7%? Wow. The monthly payment on a 200k mortgage at 7% is $1,330.60. Compare that to the 4% payment we just saw that was $985. Same loan amount. Just a different rate. It’s amazing how much the rate can affect your monthly payment. Let’s really get crazy now and put in the rate that was available in 1980. 18%. I’m almost afraid to see the results.
Oh my. The payment on a $200,000 mortgage at 18% is over $3,000. Let’s put this one to bed forever and be very grateful we’re not living in 1980.

Try some other rates at your leisure. Put any number in you want. 4.25, 9.99, whatever.
It’s really interesting to see, in one place, how much your rate will affect what you pay for your mortgage, both monthly and overall. This hopefully shows why refinancing to a lower rate is such a smart idea. If you can refinance and lower your payment just $50 a month, you could actually take the $50 and put in back in your mortgage as an extra payment (as we did in step 4) and potentially save yourself thousands in interest!

That’s it. Hope you enjoy the Quicken Loans mortgage amortization calculator as much as we do. Use it to help plan your refinance or your next home purchase. The more you know about your mortgage, the better decision you’ll make when you’re ready to move forward.

Thanks for spending your time with us. Have a great day!

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left”/>Whether you’re thinking about buying a home, looking to refinance you’re existing home or looking to get rid of private mortgage insurance…Bankrate.com’s mortgage calculators can crunch the numbers.

http://www.bankrate.com/calculators/index-of-mortgage-calculators.aspx

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Who is MJW Financial and What does it mean for YOU?!?

Dear Friend,

By now you should have received a couple newsletters in the mail from me.
Some of the feedback I’m hearing is “John, your awesome!” While other say, “John, I never want to talk to you again…just kidding!”

Who is MJW Financial and why should you care? Here is the story:

It was a cold day in early 2008 when MJW Financial venture into the market place. Our founder had worked for major banks for the previous 3 years. He was frustrated with all the difficulties of working at a major bank. From the long waiting periods to not being able to give me the best pricing on loans, he was done with the corporate world!

Right from the start MJW Financial was a success. While all the news reported huge downturns in the housing market, MJW was having their best year. While banks were asking the government for money, MJW was closing loans and earning the respect of their customers. MJW financial was making a name for itself! Today the story continues!

What makes MJW Financial different than everyone else?

Our company is an independent broker. You might not know this, but being a broker is tough! There are many state regulations and audits that MJW Financial goes thru to be able to bring customers the best rates and turn around times for securing home loans. Being an independent brokers means we can work with many different lenders to find you the BEST rates in the market place. To explain it simply: We can take your loan to any bank or lender to promise you the best deal!

Why would John Murphy join MJW Financial?

Being involved in direct sales for the past 10 years I’ve been exposed to many different opportunities. From selling shoes at 16, to Cutco knives at 19, and today mortgages, I know a good opportunity when I see one. While the majority of lenders are struggling I have found a company that is moving forward with results. Honestly, it was simply too good of an opportunity to pass up!!!

When I sat down to think about whom I knew that was involved in real estate, I literally knew 27 realtors on a first name basis. To top it off, 4 of those people are my BEST FRIENDS!!! Because of my relationships, I’m off to a great start!

What I ask from you:

At MJW Financial we truly invest all our marketing dollars into providing the very best customer service and support. We value each and every client who trusts us to finding them the best loan for their situation. We work on referrals from friends, family, and other real estate professionals. I hope that I earn the right to ask for your business. With gratitude, I ask for you to refer your contacts to me today with your business and referrals.

Best Regards,

John Murphy
Mortgage Consultant
MJW Financial LLC
(317) 579-9483 (Office)
(317) 679-8015 (Direct)
(317) 579-9529 (Fax)
jmurphy@mjwfinancial.com

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