How To Use Mike’s Loan Amortization & Pay Off Calculator! | Velocity Banking Calculator | Course

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21 thoughts on “How To Use Mike’s Loan Amortization & Pay Off Calculator! | Velocity Banking Calculator | Course

  1. Hey Mike… Thank you so much for this valuable information… I use this spreadsheet / calculator for my BIG monthly debts and what an enormous difference…
    Pay-Off / PO
    5 Years PO – Mortgage 260K
    1 Year PO – Personal Loan 31K
    1 Year PO – New Car Loan 20K
    Again… THANK U 😉

  2. I just took out a mortgage loan for 222k, I have access to 160k HELOC from another mortgage, with a 3 grand positive cash flow each month, how much should I apply to my new loan?

  3. Hello Mike. Great Videos! I am a rookie at this stuff but I have a question for you, (my apologies if someone already asked this in another video). How do you get the "$25,000" loan from your Line of credit (or credit card) to your mortgage lender? My mortgage doesn't allow/accept credit card payments so how do you apply this method? Thanks and keep up the great work!

  4. Hey Mike, what if i am already in the middle of my mortgage what would i plug in then. And what do i put in as a payment if escrow is included in my payment. Thanks

  5. Great video!! How does your amortization calculator work on an apple computer? Any idea? I’ve downloaded one before and it only works on our sons PC and not our Mac …… could you please send me one so I can give it a shot…. thanks again for your great videos and keep em coming

  6. Guys – Mike took this calc from this:

    Come on Mike, you know you can't just re-brand a free calculator and call it "Mike's Calculator" Right?

  7. Hey Mike..
    Just downloaded but unable to get it to work on Open Office or

    Do you think it'll only work in excel?

  8. Great video Mike. Looking forward to applying velocity banking to my mortgage loan. Question: Do i still continue making my monthly scheduled payment after my first chunk of velocity banking strategy? Planning to make my first chunk on the first month of August and my scheduled payment is due at the end of the month.

  9. Hello Mike , thanks for your time and information.

    Was able to download the calculator and even change the values but the chart left it with the $200,000 example info instead of the numbers I changed each grid on the table to ?

  10. I noticed you’re entering the 25k in the extra payment cell. In another video you mentioned paying the chunk towards principal only. Is that what that cell is or should I input the amount in the “principal” cell?

  11. Hi, Mike. Do you have this calculator for Mac users who use Numbers? Or is there a tool for conversion? Thanks. Great videos. This is my second or third look at this; I keep coming back to it. I have a 100K HELOC. I owe 19,000 on the line, and I owe 330,000 on my mortgage with 23 years left on the loan. I can pay the line off tomorrow to start at 0 again.

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