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%
4.375%
2nd Mortgage Rate
4.625%
N/A
1st Mortgage P&I
$1,233.93
$1,422.96
2nd Mortgage P&I
$231.36
$0
PMI Payment
$0
$211.38 (PMI)
Total Payment
$1,465.29
$1,634.34
Effective Rate
4.625%
5.590%
Advantages of PowerPlus
Monthly Savings
$169.05
 
Yearly Savings
$2,028.54
 
7 Year Savings
$14,199.78
 
More Buying Power
$332,879.38