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HomeFast

HomeFast.gif (6852 bytes)

Type of Program: Personal Finance
Supported Platforms: Win 95/98/NT4
Company Name: Harvard Equity Group
Version: 1.01
Price: $29.95
Installed Size: 1.5Mb

Download/Homepage

The installation of this program is straightforward and intuitive. It defaults to the usual place C:\Program Files etc, but it can be installed anywhere with ease.

This is one of those programs that you can tell a lot of thought and work has gone into the principals behind it. This program has one real purpose, to help you reduce the amount of money you are paying for your home mortgage. Guess what? That is exactly what it does. This fantastic program explains to you in a laymans language in a clear and concise manner, how your mortgage works, and how to reduce the amount of money you are paying for your house.

Here is one of the useful facts that this program points out:
On an $80,000 fixed rate 30 year mortgage at 8% interest, you can have your home paid off 4.3 years early and save $22,382 in interest by paying just $25 more with each monthly payment. If you paid $100 extra each month, your mortgage would be paid off 11.2 years early and you'd save $56,494 over the remaining 18.8 years.

When you first open the program you get a small welcome window that has three options. 1 Tell me about HomeFast 2.Show me the quickstart tutorial. 3 Help me set up loan.
I recommend going through them in that order. Don't worry these are not "Your Fathers Help File". These are short and sweet and full of information and clickable links.

Here is what you get. HomeFast is focused around 5 analysis pages. Each of these pages gives you a different view of your mortgage and payoff goals:

Contents Page
The Contents Page is your home page.
Loan Balances Page
This page allows you to see the principal balance on your mortgage over the life of the loan.
Principal & Interest Payments Page
This page shows you the portion of each payment that goes toward reducing your principal balance and the portion that pays interest on your mortgage.
Principal & Interest Totals Page
This page shows you the total amounts you will pay toward principal and interest.
Amortizations Page
This page displays the amortization schedule for your loan and any payoff goals you may have created.
Letters & Reports
HomeFast tries to provide you with all the necessary tools to prepare and implement your own customized payoff plan.

This is a program that is really worth it's salt. It is easy to use, holds your hand through the process of setting up your files and most importantly makes money for you!

Here is what it can do for you
Own your home up to 15 years early
Effectively reduce your interest rate by up to 2.5% without refinancing
Save tens of thousands, even hundreds of thousands of dollars in interest

This shareware program is good for 15 days then you need to register it. You can register by the web, phone or mail. Got a mortgage? Get HomeFast!

Performance:
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Reviewed by Marge Plancon


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