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Webmaster Forum / ColdFusion / Advanced Techniques / August 2006CF 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!  SignatureMichael Evangelista Evangelista Design / Evangelista Consulting, inc. www.evangelista-web.com Custom Small Business Website Solutions 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> SignatureMichael Evangelista Evangelista Design / Evangelista Consulting, inc. www.evangelista-web.com Custom Small Business Website Solutions >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, [quoted text clipped - 4 lines] > > Any suggestions for either of these is greatly appreciated! Still seeking a CF amortization calculator among other things SignatureMichael Evangelista Evangelista Design / Evangelista Consulting, inc. www.evangelista-web.com Custom Small Business Website Solutions >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, [quoted text clipped - 4 lines] > > Any suggestions for either of these is greatly appreciated! |
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