Fuzion, The Ultimate Mortgage Calculator: September 2008

It couldn't be easier!

Fast answers to complex questions - quickly and easily.

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This is the main calculator page with a simple point and click design. No knowledge of Excel is required. The red cells indicate the minimum information required for a solution. Most cells are context sensitive and vary depending upon the loan purpose or situation.

This page is divided into 5 sections.

Personal Variables
Mortgage Variables
Results
Comparison of Existing Mortgage to Proposed Mortgage
Impact of Accelerated Payments to Interest Paid and Outstanding Balance

All reports are customized with your contact information.

Fuzion requires Microsoft Excel 2003 or newer running on Windows XP, Vista or Windows 7 (both 32-bit & 64-bit versions).

Automatic Error Indicators

Fuzion minimizes the chance of an error by eliminating the guesswork.

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Conditional formatting is used extensively as a visual guide to quickly indicate when invalid entries have been made.

When GDS and TDS limits have been exceeded.

When pre-payment and payment increase limits have been exceeded.

When an incorrect date has been selected.

Purchase Loan Function

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An illustration of the Fuzion Purchase loan function. If you do not enter a property tax value, Fuzion automatically uses 1% of the property value when calculating debt service ratios.

Stay or Break (IRD Penalty Calculator)

Is it worthwhile for your client to break their existing mortgage for a lower rate? Typically, lenders ensure that this will not be the case, but add the variable of a debt consolidation refinance and breaking their mortgage suddenly becomes the obvious choice. The WAIR (Weighted Average Interest Rate) calculation illustrates instantly that breaking the mortgage is the wise option.

Calculate weighted average interest rates.

Increase and Blend Loan Purpose

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Illustrates increasing an existing mortgage and blending the existing interest rate with a new rate while retaining the original term. Note the monthly cash flow improvement realized in the Current Monthly Payments Compared to Proposed Monthly Payments section.

Two additional 'blend/extend' loan purposes are available

Increase and Extend - increasing the existing mortgage, blending the existing rate with a new rate and extending the term of the mortgage.
Blend and Extend - blending the existing rate with a new rate and extending the term of the mortgage while leaving the mortgage amount unchanged.

Second Mortgage Loan Purpose

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Illustrates the results of using a second mortgage to consolidate a debt of $95,000 and eliminate a monthly debt payment of $1,950 ($95,000 x 3%). This results in a cash flow improvement of $1,561.15 per month.

Maximum Purchase Price Calculator

Unlike other calculators that simply calculate the maximum mortgage, Fuzion accurately calculates the information your clients really need - the maximum purchase price they can afford.

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Illustrates the maximum purchase price (total mortgage less default insurance premium) based on income and down payment.

Maximum Payment Calculator

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Illustrates the purchase price (total mortgage less default insurance) that is calculated based on the maximum periodic payment amount the client is comfortable paying.

Teaser Rate Loan Function

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Illustrates blended rate and average periodic payment amount. The actual payment amounts are found on the amortization schedule.

Illustrates the actual periodic payment amounts during the introductory and ongoing periods.

Note that the maximum annual pre-payment and payment increase amounts are indicated in the column headers. These are based on the lender's actual percentage limits set on the main calculator input screen.

Refinance Impact

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This illustrates the impact of a refinance. Note the cash flow improvement of $1,311.94 per month in the Current Compared to Proposed section. This translates into an annual after-tax cash flow improvement of almost $16,000.

Enabling your clients to visualize the monthly cash flow improvement makes a refinance proposition an easy sell.

Accelerated Payments

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An illustration of the impact of accelerated payments.

Amortization Schedule with real-time pre-payments

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This unique amortization schedule allow you to input pre-payments and payment increases and see their impact in real-time.

Pre-payment Summary

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Illustrates the impact of pre-payments, payment increases and accelerated payments.

Variable Rate Mortgage Tool - Input Page

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Quickly input the current VRM and alternate mortgage variables.
Vary the prime rate to create hypothetical scenarios.

Variable Rate Mortgage Tool - Advisor

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Fuzion calculates up to six different options when deciding whether the stay, lock-in or switch from a variable rate mortgage.

What-if Summary

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Create a summary of various mortgage options to allow your client to make comparisons.

Simplified Date Input

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Fuzion includes a Date Page to allow for quick and easy input of dates.

The right side of this page is a graphic representation of the dates input with the drop-down boxes on the left side.
The number of days to closing are automatically calculated to ensure that you have not exceeded your lender's rate hold period.
The number of days between closing and the interest adjustment date are provided as a quick confirmation that the correct dates have been selected.
Buttons are provided for automatic selection of 90 and 120 day rate hold periods.
Pressing the Select Above Dates button will automatically enter theses dates on the main calculator page.

Loan Functions

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Fuzion currently offer 10 different loan functions.

Online Help

Extensive help is available throughout the program.

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Land Transfer Tax Calculations

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Select the location of the property.

Land transfer taxes and applicable sales taxes are calculated by location.

Select Nova Scotia and then select the county.

Nova Scotia land transfer taxes are calculated on a county by county basis.

British Columbia, Ontario & Toronto transfer tax rebates are calculated automatically.