Split Loans

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From: Peter Boyce


Hi all

I imagine that this has been asked before, but is there a facility within the software to allow the splitting of the loan into I/O and P&I to allow the what if scenarios etc?

For example $100K loan split into say 75% I/O & 25% P&I.

Peter
 
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From: .watto .


Gday Peter,

I will have a go at answering this one. Ian can correct me if i'm wrong.

In the investment analysis screen, go to the loan amount and left click the words "Loan Amount" this will bring up the Loan amount screen.

In the bottom left hand corner is another button "Loan Type" click this button to bring up the "Loan and Interest type" screen.

In here it is very easy to vary the loan amounts, split the loans, adjust the interest rates or make the loan P&I or I/O.

Hope this has helped.....


Cheers
watto
Melb Freestyler
 
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Reply: 1.1
From: Peter Boyce


G'day Watto

I hear what you're saying, and possibly I didn't explain myself clearly enough, but what I was asking is this - I want to split a loan scenario into an I/O and a P&I at the same time (say $100K split into $75K I/O & $25K P&I). Within the screen you mention I can only seem to have one loan type at a time and not both together. So for example I can have an I/O loan for say 5 years and then have a P&I loan from year 6 to completion. What I want to see is the effect on my cashflow if I use a split loan and to date I have been unable to find this facility in the software.

Peter
 
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Reply: 1.1.1
From: Webmaster (Somersoft)


G'day Peter & Watto,

As Watto indicated, it is very easy to simulate the split loan you require, but the interface may not be as intuitive as we all might like. You can access the dialog in the way Watto has suggested or alternatively, you can click on the "Interest" row title and get there directly. It is then simply a matter of specifying how much will be borrowed as an I/O loan and specifying it and the interest rate accordingly, then in the second row specify how much will be borrowed an a P&I loan and the interest rate for that component. For the P&I loan, you will need to specify the term of the loan as well.

Once you have done the above and clicked OK, the row title on the spreadsheet will appear as "Interest (split)" to indicate a split loan.
 
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Reply: 1.1.1.1
From: Peter Boyce


Doh!!!

Thanks very much for that....

Peter
 
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