PowerPlus Savings Calculator

Purchase Price/Value
$
Interest Rate
% (i.e. 5.00)
Down Payment/LTV
           
 
95% PowerPlus
Column A
95% w/PMI
Column B
Down Payment Amount
$15,000.00
$15,000.00
1st Mortgage
$240,000.00
$285,000.00
2nd Mortgage
$45,000.00
$0
Term
360 Months
360 Months
1st Mortgage Rate
4.625%
4.625%
2nd Mortgage Rate
4.625%
N/A
1st Mortgage P&I
$1,233.93
$1,465.30
2nd Mortgage P&I
$231.36
$0
PMI Payment
$0
$211.38 (PMI)
Total Payment
$1,465.29
$1,676.68
Effective Rate
4.625%
5.824%
Advantages of PowerPlus
Monthly Savings
$211.39
 
Yearly Savings
$2,536.62
 
7 Year Savings
$17,756.34
 
More Buying Power
$341,114.54
 

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