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The LOAN Procedure

Functional Summary

The statements and options controlling the LOAN procedure are summarized in the following table:

Description Statement Option
Statements   
specify an adjustable rate loanARM 
specify a balloon payment loanBALLOON 
specify a buydown rate loanBUYDOWN 
specify loan comparisonsCOMPARE 
specify a fixed rate loanFIXED 
   
Data Set Options   
specify output data set for loan summaryPROC LOANOUTSUM=
specify output data set for repayment scheduleFIXEDOUT=
specify output data set for loan comparisonCOMPAREOUTCOMP=
   
Printing Control Options   
suppress printing of loan summary reportFIXEDNOSUMMARYPRINT
suppress all printed outputFIXEDNOPRINT
print amortization scheduleFIXEDSCHEDULE=
suppress printing of loan comparison reportCOMPARENOCOMPRINT
   
Required Specifications   
specify the loan amountFIXEDAMOUNT=
specify life of loan as number of paymentsFIXEDLIFE=
specify the periodic paymentFIXEDPAYMENT=
specify the initial annual nominal interest rateFIXEDRATE=
   
Loan Specifications Options   
specify loan amount as percentage of priceFIXEDAMOUNTPCT=
specify time interval between compoundingsFIXEDCOMPOUND=
specify down payment at loan initializationFIXEDDOWNPAYMENT=
specify down payment as percentage of priceFIXEDDOWNPAYPCT=
specify amount paid for loan initializationFIXEDINITIAL=
specify initialization costs as a percentFIXEDINITIALPCT=
specify time interval between paymentsFIXEDINTERVAL=
specify label for the loanFIXEDLABEL=
specify amount paid for discount pointsFIXEDPOINTS=
specify discount points as a percentFIXEDPOINTPCT=
specify uniform or lump sum prepaymentsFIXEDPREPAYMENTS=
specify the purchase priceFIXEDPRICE=
specify number of decimal places for roundingFIXEDROUND=
specify the date of loan initializationFIXEDSTART=
   
Balloon Payment Loan Specification Option   
specify the list of balloon paymentsBALLOONBALLOONPAYMENT=
   
Rate Adjustment Terms Options   
specify frequency of rate adjustmentsARMADJUSTFREQ=
specify periodic and life cap on rate adjustmentARMCAPS=
specify maximum rate adjustmentARMMAXADJUST=
specify maximum annual nominal interest rateARMMAXRATE=
specify minimum annual nominal interest rateARMMINRATE=
   
Rate Adjustment Case Options   
specify best-case (optimistic) scenarioARMBESTCASE
specify predicted interest ratesARMESTIMATEDCASE=
specify constant rateARMFIXEDCASE
specify worst case (pessimistic) scenarioARMWORSTCASE
   
Buydown Rate Loan Specification Option   
specify list of nominal interest ratesBUYDOWNBUYDOWNRATES=
   
Loan Comparison Options   
specify all comparison criteriaCOMPAREALL
specify the loan comparison periodsCOMPAREAT=
specify breakeven analysis of the interest paidCOMPAREBREAKINTEREST
specify breakeven analysis of periodic paymentCOMPAREBREAKPAYMENT
specify minimum attractive rate of returnCOMPAREMARR=
specify present worth of cost analysisCOMPAREPWOFCOST
specify the income tax rateCOMPARETAXRATE=
specify true interest rate analysisCOMPARETRUEINTEREST
   

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