Cost of Savings Index Mortgage Calculator

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Desired Loan Amount        
Property Value / Purchase Price   Loan to Value  
      Value at 80%  
1st mortgage        
2nd mortgage        
           
COSI INDEX MORTGAGE STRUCTURING OPTIONS
           
Loan Details Option #1 Option #2 Option #3 Option #4 Option #5
1st Mortgage After Closing Costs
COSI Index 1.850% 1.850% 1.850% 1.850% 1.850%
Margin (Fixed for lifetime of loan) 2.80% 3.15% 3.25% 3.30% 3.40%
Mortgage Fully Indexed Rate 4.650% 5.000% 5.100% 5.150% 5.250%
Mortgage Minimum Payment Rate 1.950% 1.950% 1.950% 1.950% 1.950%
Prepayment Penalty* None 3 Years 3 Years 3 Years 3 Years
*** Prepayment penalty is 2% for the first 3 Years. Borrowers can pay up to 20% of the original balance each year without penalty.
           
1st Mortgage Payment Options
Minimum Payment Option
Interest Only Payment Option
30-Year Payment Option
15-Year Payment Option
           
Closing Costs Summary
Fixed Closing Costs (No prepaids) 1,918.00
Origination Point(s) / Rebate 1.50% 1% 0.50% 0.00% -0.50%
Total Closing Costs
           
Annual Minimum Payment Increase
  Year 0-1 Year 1-2 Year 2-3 Year 3-4 Year 4-5
Guaranteed Minimum Payment**
Minimum payment remains the same for all loan options      
           
Payoff Details
           
1st Mortgage
2nd Mortgage
Closing Costs
Total Payoffs
           
2nd Mortgage Amount
Base 2nd Mortgage Amount
Fee to waive 2nd mortgage prepay penalty
Net 2nd Loan Amount
           
2nd Mortgage Payments Interest Rate Loan Duration (months)
           
2nd Mortgage Payment per loan option
           
Combined Mortgage Payments
Minimum Payment Option
Interest Only Payment Option
30-Year Payment Option
15-Year Payment Option
           
Minimum Payment Schedule Combining 1st and 2nd Mortgage Payments
Year 0-1
Year 1-2
Year 2-3
Year 3-4
Year 4-5

Automatic recalculation