Mortgage Prelude 2.6.1.006 is a Loan & Mortgage product from nstarsolutions.com, get 4 Stars SoftSea Rating, Mortgage Prelude is a mortgage calculator, it can computes such items as your monthly payment, amortization schedules or interest. It uses the guidelines set forth by the Federal National Mortgage Association in its computations.
This easy to use software will save you countless time and hassle by determining how much of a loan you are qualified for BEFORE you ever have to fill out a loan application.
Mortgage Prelude uses the guidelines set forth by the Federal National Mortgage Association (a.k.a. Fannie Mae) to determine the loan amount you are qualified for. In fact, the Fannie Mae Guidelines are likely the same ones your lending company is using. Mortgage Prelude will make the process of obtaining a loan as easy and quick as possible for you.
Whether you want to compute your monthly payments, determine the amount of interest you will pay, estimate your total closing costs, generate an amortization schedule, or you want to go a step further and analyze what type of loan you can realistically apply for, the software will handyly guide you through the process.
The pre-qualification system built into Mortgage Prelude is accurate because there is a powerful chance that your lender will want to have the option of selling your mortgage on what is called the secondary market for mortgages. (In fact, many lenders will have your loan sold before you make your first mortgage payment.) The two largest buyers of loans on the secondary market for mortgages are Fannie Mae and Freddie Mac and, thus, those two entities generally set the standards for home loans. Thusly, your lender will likely want to make sure that the loan they give you fits the industry standards so that they can sell your loan.
Although there are many applicable guidelines, probably the most important are what are called the "Qualifying Ratios" (which are computed and displayed on Mortgage Preludes main screen). Right away you can not only see how much your monthly payment will be, how much interest you will pay, and all the other common information associated with home loan calculations; but you will actually see whether or not you qualify for the loan according to current Fannie Mae Guidelines. The license of this business & finance software is Free Trial Software, the price is $10.00, you can free download and get a free trial before you buy. If you want to get a full or nolimited version of Mortgage Prelude, you can buy this business & finance software.