Patent ID: 7805364
Filing Date: 2010-09-28
Classification: G06Q

Abstract:
1. A method for presenting multiple payment options related to an existing fixed rate loan, comprising: a computer readable storage medium having computer executable instructions stored thereon; a processor that executes the computer executable instructions stored on the computer readable storage medium to implement the following acts: accessing a fixed interest rate, a minimum payment percentage rate, and a loan term; calculating minimum payment amounts in accordance with the minimum payment percentage rate, wherein the minimum payment amounts convey an acceptable minimum payment associated with the existing fixed rate loan, and wherein the acceptable minimum payment is determined by a financial institution; calculating conventional payment amounts in accordance with the fixed interest rate and the loan term; graphically depicting the minimum payment amounts; and graphically depicting a comparison between the minimum payment amounts and the conventional payment amounts, wherein the comparison conveys financial effect of each of the multiple payment options related to the existing fixed rate loan.