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Example #1

A Simple Example


Example #1 contains a simple financial model.

P&I Loan Details

One loan: a 30-year $150,000 mortgage @ 6.25%. Payments are due on the 10th.

HELOC Details

HELOC with $10,000 limit and no balance at the start. 8% Interest rate. Injection amount set to $1,660.

Income

One source of income: a job with a monthly salary of $1,750 paid on the 15th.

Expenses

One expense entry: weekly expenses of $100.


Based on the information entered, the loan will be paid off in 14 years and 6 months saving a total of $103,723 using the HELOC Based System of Debt Elimination.



Note:
You can load Example #1 by clicking on "Example #1" under the Help menu. (You may need to save the work in your current estimate before you load the example.)









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