Simultaneous comparison of mortgage information and asset accumulation information
OwnerDavid T. Savage, Gregory S. Wexlerinventors
Life of this patent
Estimating the term…
Abstract
A computer-implemented method of assisting a consumer in deciding whether to prepay his/her loan comprises first determining total loan cost reduction due to the prepayment or prepayments. Second, a return on investment resulting from investing the prepayment or prepayments is estimated. Finally, the consumer is provided with a side-by-side comparison of the total loan cost reduction and the estimated return on investment.
Claims30
A computer-implemented method of assisting a consumer in deciding whether to make one or more optional prepayments on a loan, the method comprising:
- determining an amount by which a total cost of the loan is reduced due to one or more optional prepayments on the loan,
- predicting an estimated return on investment resulting from investing the one or more optional prepayments, and
- outputting a comparison of the amount by which the total cost of the loan is reduced with the return on investment.
A computer-implemented method comprising:
- collecting loan information and investment information associated with a user,
- calculating monthly savings information based on the loan information,
- calculating interest savings information based on the monthly savings information and the loan information,
- calculating asset accumulation information based on the monthly savings information and the investment information, and
- providing the user with a comparison of the interest savings information and the asset accumulation information.
A computer-implemented system comprising:
- a program module configured to collect loan information and investment information associated with a user,
- a program module configured to calculate monthly savings information based on the loan information,
- a program module configured to calculate interest savings information based on the monthly savings information and the loan information,
- a program module configured to calculate asset accumulation information based on the monthly savings information and the investment information, and
- a program module configured to provide the user with a comparison of the interest savings information and the asset accumulation information.
Dependencies are inferred from the claim text.