Hi,
I have used the vertex42.com Loan Amortization Schedule a few times, and its extremely handy. However, I am curious, is there a way to create an amoritization schedule for a loan thats interest rate MAY change monthly (unlike a traditional ARM Mortgage that is variable, but pretty straight forward)? I have a personal loan with my parents through their HELOC. Their rate is variable and can change monthly. They have loaned me $$ before from that same HELOC and the interest rate may be the same for 3 months, then go up to X rate for one month, then up to Y rate for 10 months down to Z rate for 1 year. I am looking to document this as best I can, and I am not sure how to create it.
Any tips or ideas would be great.
Thanks.
Dano22
I have used the vertex42.com Loan Amortization Schedule a few times, and its extremely handy. However, I am curious, is there a way to create an amoritization schedule for a loan thats interest rate MAY change monthly (unlike a traditional ARM Mortgage that is variable, but pretty straight forward)? I have a personal loan with my parents through their HELOC. Their rate is variable and can change monthly. They have loaned me $$ before from that same HELOC and the interest rate may be the same for 3 months, then go up to X rate for one month, then up to Y rate for 10 months down to Z rate for 1 year. I am looking to document this as best I can, and I am not sure how to create it.
Any tips or ideas would be great.
Thanks.
Dano22
