There’s an interesting site I developed a while back for when I was refinancing a mortgage loan. I’d conceptualized it years ago, but hadn’t actually set aside the time to build it out. That changed recently.
I noticed that most loan/mortgage calculators were offering one calculation at a time and then showing extraneous details about that single calculation. However, when I’m talking to my lender, I want to be able to jump from one scenario to the next with ease, and I don’t always care about the whiz-bang charts and graphs, etc. Furthermore, considering the simplicity of these calculations, I didn’t see much need for a round-trip to the server each time a calculation is requested; most loan calculators online force a submit to the server for that single calculation they return.
For those curious, the basic amortization formula is here on Wikipedia. I’m just applying that a few dozen times to make the scenario grid, and then calculating a full amortization table for the specific scenario once the inputs stop changing.
I can talk more about some finer points of the technology at some point (e.g. the Revealing Module Pattern for encapsulation), but this is just a generic announcement. Since this appears to be a somewhat novel approach, I’m more interested in where else such a tool would make sense.
If you have any bright ideas, please share them in the comments. Thanks!