Mortgage Comparison Calculator: A tool for your borrowers

Business owners get mortgages. You may be the mortgage lender to a business owner. You may also be a commercial lender and have an opportunity to share things of personal interest with your business borrowers as you build borrower relationships. As you know, businesses do not make the decision as to which business lender to use, people at those businesses do. Here is a tool I just found that helps mortgage borrowers compare options. The tool allows consumers to compare mortgage payments and rate of equity accumulations for up to six types of fixed and adjustable-rate mortgages. Then based on that info, you get the loan balances in future years, home equity in future years, initial monthly payment, future payments. Take a look at www.federalreserve.gov/apps/mortcalc/ And if you have any similar finds, leave a comment and share.