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VRM Calculator

  Variable Rate/Fixed Rate Comparison Tool                            
  Prime Variables   Total Payments   Prime Rate  
  Current lender prime               End of Year    
  Periodic change to Prime
  Frequency of prime change
  VRM w FR Pmts    
  Fixed Rate    
  Total prime increase over term                    
  Prime at term-end          
Mortgage Variables
Interest Paid
  VRM variation from prime %                              
  Fixed mortgage rate VRM Observations  
  Current mortgage balance VRM w FR Pmts VRM    
  Payment frequency
  Fixed Rate    
  VRM compounding
  Months since funding                      
  Term in years
  VRM with FR Payments    
  Original amortization Term-end Outstanding Balance      
  VRM payment increase privilege %
  VRM payment override   VRM      
  Current VRM payment   VRM w FR Pmts                
  Fixed payment   Fixed Rate Fixed Rate    
  Remaining term in months                    
  Remaining amortization in years          
  Term Summary   VRM Savings or Increase over Fixed Rate  
    VRM       VRM VRM w FR Pmts  
  Average Payment
  Interest Savings (-Increase)  
  Total Payments   Payment Savings (-Increase)  
  Total Interest Paid     Balance Decrease (-Increase)  
  Outstanding Balance     Net Savings (-Increase)  

Amortization Summary

  Annual Details During Term                          
  Annual Annual Interest     Mortgage   of   Annual   Annual Interest Mortgage  
  Payment Interest Rate     Balance   Year   Payment   Interest Rate Balance  
      Annual     Annual   Interest   Mortgage   of      
      Payment       Rate   Balance   Year      

Amortization Schedules

  Amortization Schedule  
  Select Comparison
Mortgage   Payment   Mortgage   OSB Cum Payment Cumlative  
  Year Amount
Balance   Amount   Balance   Difference  


      To compare the potential benifits / disadvantages of locking in a variable rate mortgage to a fixed rate.    
      Complete the Prime Variables and Mortgage Variables sections.    
    Payment Increase Privilege    
      This value must be entered when comparing a variable mortgage with fixed rate payment amount.    
    Prime Cap    
      The maximum (for increases in prime) or minimum (for decreases in prime) prime value over the term of the mortgage.    
    VRM Payment Override    
      Allows you to enter the actual variable payment amount if it varies from the calculated amount.    
    VRM with Fixed Rate Payment    
      This scenario assumes that your client takes a variable rate mortgage, but can afford to make the current fixed rate payments. The payment is limited to the payment increase privilege of the variable rate mortgage.    
      This scenario allows your client to take advantage of the low variable rate while making fixed rate payments, reducing the total interest paid and the amortization.    
      These payments may exceed the fixed rate payment in order to avoid negative amortization.    
      Maximum term is 5 years.    
      Pre-defined prime increase / decrease amounts.