| This model
was built to offer the User a very simple and quick method
of running different loan scenarios, enabling the User to
choose the best loan for his/her situation. Although the
model was originally intended for mortgage loans and equity
lines, auto, equipment, and other personal loans may be easily
modeled as well. For amortized loans, the model can easily
calculate a principal and interest schedule, informing you
just how much interest and principal you are paying in any
given month or any given period of time in your loan schedule. |
- "Information" guide: The software comes
with a detailed "Information" guide that walks you through
completing the model. Although many jump right into using
the model without reviewing this guide, it is readily available
should you have any model questions at all. If the guide
does not answer all of your questions, email our support
team for a fast response.
- This model was written in HTML
& MS EXCEL; applications that you and your computer can adapt
to and interface with comfortably.
- Easy Navigation. With Options Boxes and
Check Boxes, the User is able to navigate throughout the entire
model with the simple click of a button. This will allow comparing
interest only to fully amortized loans, getting a picture of
your interest or principal schedule, and allow you quick references
back to this information section should you have any inquiries.
| Options Box: |
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| Checkbox: |
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-The model is exactly this - a model. It allows you
to model different loan payment scenarios, enabling you
to choose the best for your situation. The model was built
keeping in mind that one does not have time or energy to
learn a complicated financial softwar. Bluestar includes
easy to use tools throughout the model, like inputting
scroll bars which enable split second inputting.
As you use the model, you will see the time savings by
using the scroll bars.
| Inputting Scroll Bars: |
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- Easy to follow examples: With the click of a button, the model
has examples to guide you through the modeling process.
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Using this model is quick and simple; kindly see the example
below. For a fully amortized loan, enter the 3 critical items
of the loan (loan amount, interest rate and term). You can
either enter these figures by typing them in or using the scroll
bars provided above each box. The convenience of the scroll
bars is that as you scroll, you can see the payment change
- this is a time saving benefit if you need to model multiple
loan scanarios. The answer (the loan payment) is shown in the
center box entitled, "Monthly Payment (p&i)". Since a typical
amortized loan gradually pays more to principal and less to
interest (with the payment itself remaining constant), you
may have an "interest" in seeing this breakdown. The PBS allows
you to see just how much of your payment is going toward principal
and how much to interest at any given month or period of months
throughout the loan. Use the "Start" and "End" month scroll
bars to determine this. Example buttons also guide you through
an example to get you started.
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