SQL Stored Procedure to create Mortgage Loan APR with PMI
Posted on 2011-10-25
I am looking for a stored procedure that will calculate / amortize a mortgage loan with mortgage insurance. The end results should produce a amortization schedule with a summary of total interest paid, total PMI, total payments and the APR value.
The parameters that will be past to the proc would be Property Value, Loan Amount, Term, Interest Rate and Payment Start Date, with the assumption that the PMI rate is .62 and will be carried until the LTV is 78%.
Thanks in advance if you have a solution.