Title

Comparing Fixed-Rate Mortgage Loans with Horizon-Specific Loan Payoff Schedules and Identical Net Loan Amounts.

Document Type

Article

Publication Date

11-2016

Abstract

Shopping for a mortgage and comparing the options is a very complicated topic because of the various types of mortgages and because of the large number of variables that should be considered. Ten years ago, Christine McClatchey and Cris de la Torre simplified the comparison process by introducing a loan payoff time horizon of 5 years. The current article attempts to further simplify the mortgage selection process by holding the loan size constant and eliminating their net loan size variable. Treating the loan size as a constant and adding in closing costs and points is another step toward easing the mortgage selection process using more realistic assumptions

Language

English

Comments

This article is the authors' final published version in Journal of Financial Service Professionals, Volume 70, Issue 6, November 2016, Pages 55-61.

The published version is available at https://go.exlibris.link/F7F8mYMy. Copyright © EBSCO Industries, Inc.

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