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This is one of the most important screens in the results section because it
shows you what your “Projected end of Month Balance” will be based on the
information you entered into the software program. Most importantly, it allows
you to enter what your “Actual End of Month Balance” will be based on the loan
statement you receive from your lender. You can then click on “Recalculate” and
the program will use the new figure to work out your loan term.
The value in this is that you will be able to immediately see the effect of
your actual loan balance on the overall term of your home loan. For example, if
you over spend funds for a particular month and your actual loan balance is more
than what was projected, you can work out what expenses to modify so you can
bring your home loan back to the original projected term.
We can tell you that all the people who are successfully becoming Mortgage
Free Years Sooner are using this feature to help them stay on track with their
Mortgage Reduction Plans.
More importantly, we know that this will allow you to do the same with your
home loan.
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