2 Replies Latest reply on Aug 30, 2006 9:51 AM by Newsgroup_User

# CF Mortgage Calcs? ? NEED APR

I am almost done with a very customized mortgage calculator in CF ( actually more of a 'mortgage quote' script) but I also need
some decent 'canned' calcs, for basic monthly payment,
amortization, etc.

The other missing piece of my puzzle is the ever-elusive APR formula. I know somebody,somewhere must have the code already
working for this... I just wish I could find it, and soon!

Any suggestions for either of these is greatly appreciated!

--
Michael Evangelista
Evangelista Design / Evangelista Consulting, inc.
www.evangelista-web.com

• ###### 1. Re: CF Mortgage Calcs? APR SOLVED
APR is now working thanks to Hal and others' fine help with the formula.

Here is my CFscript in case it is of value to anyone else...

<cfscript>
loanAmount = form.LoanAmount;
interestRateAnnual = loanRate;
origIntRate = interestRateAnnual/1200;
loanMonths = loanTerm * 12;
includedFees = (origination+processingfee+underwritingfee+documentprepfee);
prepaidInt = (interestRateAnnual/100/365)*loanAmount*15;
extraCost = includedFees + prepaidInt;
// extraCost = 2000;
points=0;

monthlyPayments = ((loanAmount + extraCost) * origIntRate * ((1 + origIntRate)^loanMonths)) / (((1 +
origIntRate)^loanMonths) - 1) ;

// THIS IS THE APR CALCULATION
APRincrease = (extracost+loanAmount*points/100) / (loanAmount-ExtraCost-loanAmount*points/100) * 10+ origIntRate;

APR = APRincrease+loanRate;
</cfscript>

--
Michael Evangelista
Evangelista Design / Evangelista Consulting, inc.
www.evangelista-web.com

"Michael Evangelista" <contact_me_online_@evangelista-web.com> wrote in message news:ed366h\$hef\$1@forums.macromedia.com...
>I am almost done with a very customized mortgage calculator in CF ( actually more of a 'mortgage quote' script) but I also need
>some decent 'canned' calcs, for basic monthly payment,
> amortization, etc.
>
> The other missing piece of my puzzle is the ever-elusive APR formula. I know somebody,somewhere must have the code already
> working for this... I just wish I could find it, and soon!
>
> Any suggestions for either of these is greatly appreciated!
>
> --
> Michael Evangelista
> Evangelista Design / Evangelista Consulting, inc.
> www.evangelista-web.com
> Custom Small Business Website Solutions
>
>
>
>

• ###### 2. Re: CF Mortgage Calcs? ? NEED APR
Still seeking a CF amortization calculator among other things

--
Michael Evangelista
Evangelista Design / Evangelista Consulting, inc.
www.evangelista-web.com

"Michael Evangelista" <contact_me_online_@evangelista-web.com> wrote in message news:ed366h\$hef\$1@forums.macromedia.com...
>I am almost done with a very customized mortgage calculator in CF ( actually more of a 'mortgage quote' script) but I also need
>some decent 'canned' calcs, for basic monthly payment,
> amortization, etc.
>
> The other missing piece of my puzzle is the ever-elusive APR formula. I know somebody,somewhere must have the code already
> working for this... I just wish I could find it, and soon!
>
> Any suggestions for either of these is greatly appreciated!
>
> --
> Michael Evangelista
> Evangelista Design / Evangelista Consulting, inc.
> www.evangelista-web.com
> Custom Small Business Website Solutions
>
>
>
>