Mortgage

From the main page select Mortgage. A mortgage is one of the products that LoanShark computes and analyzes. 

Mortgages are typically blended interest plus principal payments paid over a long period, 15 to 25 years or more.


Get help by clicking on the Mortgage logo. 


Enter the purchase price, the deposit, the interest rate and the repayment period and the term of the mortgage, in years.

Select the payment frequency, i.e. how often are the payments. You can Monthly, Weekly or Biweekly payment frequencies.



You can get a quick summary of the payment amount and the total interest by selecting Basic. LoanShark will display the payment details. 

To get a more detailed summary, select Details. LoanShark will display a loan summary and the loan amortization tables. This shows exactly how much interest is paid with each payment until the loan is completely paid off. 

To change the mortgage parameters, just click the arrow, top left of the screen, and select Basic or Details again.


This is a summary of the mortgage along with the amortization tables. 

The amortization tables list the payment number, the principal balance remaining after this payment, the portion of the payment that went towards the principal to reduce the loan amount owing, the amount of interest paid to the lender and the total interest paid so far. As you can see, after the first payment, the total interest paid is the interest portion of the very first payment. As the payments progress, the total interest paid increases.

Where LoanShark really excels is in its advanced reporting and analysis engine.  That’s covered next.

LoanShark can also generate an HTML report. The report can be shared using the standard share capabilities of the device. Simply select HTML to see the report. LoanShark renders and displays the report.


Selecting PDF instructs LoanShark to generate and email a comprehensive report outlining the the loan details, the amortization tables and important suggestions and recommendations. In addition to that, LoanShark provides a number of charts and graphs visually demonstrating the impact of the varying the parameters of the loan, such as, the re-payment period, the interest rate and the payment frequency. The report constructed is customized and delivered to the saved email stored in the settings.  When the report has been generated a banner is displayed, as shown, indicating the report was created and emailed.



The following are extracts from a sample LoanShark report. Depending on the complexity of the loan product the contents of the report will vary.




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