Mortgage calculators required as either spreadsheets or web apps
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Post a project like this£250(approx. $313)
- Posted:
- Proposals: 9
- Remote
- #1014491
- Expired
Mobile App Developer, Mobile App Designer, Full Stack Developer, Ionic Developer, Website Developer ,WordPress Developer, Website Designer, Angular Developer, Graphic Designer, Bootstrap
Delhi
Freelancer (WordPress specialists (PHP, HTML, CSS, JS/jQuery)/Mobile Apps/Graphic Designer/)
Larkana
72137619247631993064986565299279638895279310564061160982
Description
Experience Level: Expert
General information for the business: We are a mortgage loan company
Description of excel work: We need a set of calculators created under the following headings:
Serviced Loans
Retained Interest Loans
Rolled Up Interest Loans
Basically we lend funds on bridging terms which means short term high interest loans secured against property. We need a set of calculators which will calculate these loans.
Example
client requests a loan for £140,000 (IE they have to actually get that amount in their account). We offer terms at 1.25% per month but we retain interest. This means that we lend him say 6 months worth of payments on the loan and then add this to his loan. We also add arrangement and legal fees. The gross loan would therefore be closer to £157,000.
Example 2
client requests a loan for £140,000 (IE they have to actually get that amount in their account). We offer terms at 1.25% per month but we roll up interest. This means he never actually makes a payment and each payment is simply added to the loan balance. We also add arrangement and legal fees. The gross loan would therefore end up being approximately £155,000.
Example 3
client requests a loan for £140,000 (IE they have to actually get that amount in their account). We offer terms at 1.25% per month but we retain interest. The client wants to pay the interest monthly. We also add arrangement and legal fees. The gross loan would therefore be closer to £143,000.
The calculators aren't as easy as they may sound since the retained interest is a complex calculation. A number of other lenders have them online but we need something that we can use and rely upon.
Extra notes:
Description of excel work: We need a set of calculators created under the following headings:
Serviced Loans
Retained Interest Loans
Rolled Up Interest Loans
Basically we lend funds on bridging terms which means short term high interest loans secured against property. We need a set of calculators which will calculate these loans.
Example
client requests a loan for £140,000 (IE they have to actually get that amount in their account). We offer terms at 1.25% per month but we retain interest. This means that we lend him say 6 months worth of payments on the loan and then add this to his loan. We also add arrangement and legal fees. The gross loan would therefore be closer to £157,000.
Example 2
client requests a loan for £140,000 (IE they have to actually get that amount in their account). We offer terms at 1.25% per month but we roll up interest. This means he never actually makes a payment and each payment is simply added to the loan balance. We also add arrangement and legal fees. The gross loan would therefore end up being approximately £155,000.
Example 3
client requests a loan for £140,000 (IE they have to actually get that amount in their account). We offer terms at 1.25% per month but we retain interest. The client wants to pay the interest monthly. We also add arrangement and legal fees. The gross loan would therefore be closer to £143,000.
The calculators aren't as easy as they may sound since the retained interest is a complex calculation. A number of other lenders have them online but we need something that we can use and rely upon.
Extra notes:
Projects Completed
90
Freelancers worked with
71
Projects awarded
49%
Last project
19 Apr 2024
United Kingdom
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