Use the worksheet below to compare different loans. Copy the worksheet in Excel for easy calculation.

Loan Amount (First Mortgage):

Loan Amount (Second Mortgage):

Down Payment:

	FIXED 15 yrs	FIXED 30 yrs	ARM 3/1	ARM 5/1	ARM 7/1	State Sponsored	FHA	Other
Terms
Interest Rate
Discount Points
APR
Lock-in Fee
Lock-in Period
Index Value
Index Used
Margin
Periodic Cap
Life Cap
Prepayment Penalty
Convertibility
Origination Fee
Closing Costs
Other Fees
Monthly Payment (P)
Monthly Interest (I)
PMI?
Cancel PMI?