Prop Intel offers a few different calculators to help provide valuable information and insight for Homeowners
Financing calculators are an essential tool for Homeowners in gathering information for analysis in order to make the best possible decisions.
Refinance Calculator
The Refinance Calculator lets a Homeowner view the monthly principal and interest as well as the total interest for the loan. These values can be adjusted to explore different scenarios.
The New Loan calculator allows a Homeowner to set new values to calculate from and use to compare against the current loan.
By clicking the Cashout Value box, the calculator will automatically calculate the estimated maximum cashout amount. This value plus the loan balance will equal approximately 80% Loan to Value.
The outputs at the bottom of the page address the interest paid to date on the current loan, combined with the total interest of the new loan, compared to the total interest on the current loan to show the potential savings or increase.
Paydown Calculator
The Paydown Calculator allows a Homeowner to explore potential time and interest savings achieved by paying more principal on their loan.
There are two ways to approach the calculation: by amount or by date
Amount
The amount option lets the Homeowner enter an additional dollar amount that would be paid at one of two selected frequencies - monthly or quarterly.
Based on these two factors, the calculation will show the potential interest and time saved.
Date
The date option lets the Homeowner select a new payoff date in the future in order to back into the necessary monthly or quarterly additional principal payments amounts needed.
Vacation Rental Calculator
Converting a property into a short term vacation rental is a viable option for many Homeowners. The Vacation Rental Calculator provides some guidance on estimated monthly occupancies and nightly rates for a given area based on the number of bedrooms.
The calculator extrapolates the potential monthly and annual income based on the occupancy and nightly rate. Both of these can be adjusted to explore different scenarios.
The median monthly rate shows the estimated cost to rent a similar home for an entire month.