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ProCash, an Economic Model for Income Properties

Long Term Financing:More Complicated

Mortgages with constant periodic payments have special characteristics which can be expressed as columns of the variable MTGES. Successive rows represent additional loans.

Notes with specific but irregular takedown and repayment schedules may be best entered with NOTEFIN. The first four columns indicate terms. Remaining columns are the periods of analysis (years, months, or whatever) with the specific loan takedown or repayment (-) for that period. Successive rows of the matrix are different loan instruments. Cash flow is taken to be mid-period for calculating interest.

More complicated mortgage terms can be input with the array MTGES. Successive rows of MTGES represent additional loans.

AVI[96]Mortgage amounts based on cost (default=value) 553  3
AVI[187]Allow financing formula to calc. mtges > cost 553  3
MTGES[;1]Mortgage terms: Loan to Value Ratio or $ Amount 553  2
MTGES[;2]Mortgage terms: Interest rate 553  2
MTGES[;3]Mortgage terms: Term (years) 553  2
MTGES[;4]Mortgage terms: Balloon (months) 553  2
MTGES[;5]Mortgage terms: Entity (partner) ID # 553  2
MTGES[;6]Mortgage terms: Months of interest only up front 553  2
MTGES[;7]Mortgage terms: Closing date or month available 553  2
MTGES[;8]Mortgage terms: Loan amortization to date 553  2
MTGES[;9]Mortgage terms: Payment periods per year 553  2
MTGES[;10]Mortgage terms: Restrain debt service terms 553  2
MTGES[;11]Mortgage terms: Accrue interest (default=pay currently) 553  2
FL[1;]Floor loan terms: DATE 553  
FL[2;]Floor loan terms: CEILING 553  
FL[3;]Floor loan terms: LEASES 553  
AVI[160]Accrue Interest on 2cd Mortgage(must be int.only,MTGES[;11]) 553  
NOTEFIN[;1]Note financing: Interest rate 553  
NOTEFIN[;2]Note financing: Accrue interest (default=pay currently) 553  
NOTEFIN[;3]Note financing: Starting Interest balance accrued 553  
NOTEFIN[;4]Note financing: Period to start interest (if not 1st) 553  
NOTEFIN[;5]Note financing: Periodic schedule of draw or repay 553  
AVI[196]Deduct capital replacements from income to be capitalized 553  

viewtypecase studyviewfile sizecomplexityhelp#comment
InputsBrandon Villas of Tampa (market housing)(mortgages) 3332 22 553 
St. Lucie Warehouse(mortgages) 3583 27 553 
BHP II Limited Partnership : LIHTC(mortgages) 4448 128 553 

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