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

    CF Mortgage Calcs? ? NEED APR

    Level 7
      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




        • 1. Re: CF Mortgage Calcs? APR SOLVED
          Level 7
          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
          Custom Small Business Website Solutions



          "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
            Level 7
            Still seeking a CF amortization calculator among other things

            --
            Michael Evangelista
            Evangelista Design / Evangelista Consulting, inc.
            www.evangelista-web.com
            Custom Small Business Website Solutions



            "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
            >
            >
            >
            >