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Loan Analysis

The Myth of Zero Percent Financing for Cars (John & Jane Jones Pt. 2 of 7)

The Myth of Zero Percent Financing for Cars (John & Jane Jones Pt. 2 of 7)
Both Jane and John Jones were smiling as they walked into my office for the second meeting with them.  The first meeting had gone well and I was excited to meet with them. After a few minutes of catching up and pleasantries, I asked John, “If you were talking to a good friend and they asked what our office was doing for you, what would you tell them?” John was cont… Continue Reading

Is it true there is a difference in a Life Insurance company’s “in advance” or “in arrears” loan rate?

The answer is NO. The insurance companies have really confused this issue ( In Advance vs In Arrears) because they mistakenly call it a “rate” when it is not. The in Advance “rate” should be called a factor because all it is for is to multiply the loan amount by to determine the payment when made up front. Any loan balance is charged the In Arrears r… Continue Reading

Truth Tip, Amortization Schedule

For an Amortization Schedule on the Loan Analysis Calculator, you can switch the “Period Number” to “Start Date” by clicking on it and then your amortization schedule will have payments dates on it which you can adjust based on when you want the first payment to be.… Continue Reading

Truth Tip, Loan Analysis

On the Loan Analysis Calculator, if you want to show skipping a payment on the loan payback, go the the middle and click the “compare” button, then you skip payments or change them on the blue lines.  … Continue Reading

Using the Loan Analysis Calculator to show difference between a 15 and a 30 year mortgage payment if applied to PUA.

How do we show what the difference between a 15 and a 30-year mortgage payment would look like if applied to a PUA (paid up addition) on a life insurance policy?   Using the Loan Analysis Calculator we can see that when the savings rate and loan rate are the same, the gross costs of each mortgage are identical to each other when properly measured over the same time… Continue Reading

How can I get an amortization schedule?

How can I get an amortization schedule?  We’ll use the Loan Calculator in the www.truthconcepts.com software to print a 48 month amortization schedule for a $35,000 loan to be paid back at 6.5%.  The picture below only shows until month 24, but the rest is there below in the actual software. Next, we’ll select the from the Alternate Payback section a button to the r… Continue Reading

Truth Tip Loan Analysis

Truth Concepts Loan Analysis calculates amortization schedules and the benefit of paying back loans under various scenarios and different rates and compare two loans for deductible and non-deductible loans.  Here is a tip for the Loan Analysis Calculator: Always put the lower interest rate payback first in the “Annual Loan Rate” box as that reflects the actua… Continue Reading