Utilities

15-vs-30 term comparison with invest-the-difference

Pay the mortgage down fast, or take the longer term and invest the difference? Holds the monthly budget equal to the higher (short-term) payment: the short-term path pays the house off sooner and then invests the freed-up payment; the long-term path invests the monthly difference throughout. Reports the interest each path pays and the terminal wealth at the longer horizon, and names the winner. Deterministic; not lending or investment advice.

post/v1/mortgage/term-comparison

Request

  • Base URL: https://api.numeratica.com
  • URL: https://api.numeratica.com/v1/mortgage/term-comparison
  • Auth: one of:
    • HTTP bearer
    • API key in header X-API-Key

Request body

loan_amountnumber required
short_term_monthsinteger

Shorter loan; omit for 180 (15 yr).

short_ratenumber required

Annual APR on the shorter loan.

long_term_monthsinteger

Longer loan; omit for 360 (30 yr).

long_ratenumber required

Annual APR on the longer loan.

investment_returnnumber required

Annual return on invested cash.

Response

The term comparison

result_idstring
engine_versionstring
disclaimerstring

Example response

{
  "result_id": "termcmp_1a2b3c4d5e6f7a8b",
  "engine_version": "term-comparison-1.0.0"
}

Changes

No recorded changes to this operation across all 1 revision of this API.