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The LOAN Procedure

Example 13.4: Output Data Sets

This example shows the analysis and comparison of five alternative loans. Initialization cost, discount points, and both lump sum and periodic payments are included in the specification of these loans. Although no printed output is produced, the loan summary and loan comparison information is stored in the OUTSUM= and OUTCOMP= data sets. Output 13.4.1 illustrates the contents of the output data sets.

   proc loan start=1998:12 noprint outsum=loans
      amount=150000 life=360;

      fixed rate=7.5 life=180 prepayment=500
            label='BANK1, Fixed Rate';

      arm rate=5.5 estimatedcase=(12=7.5 18=8)
          label='BANK1, Adjustable Rate';

      buydown rate=7 interval=semimonth init=15000
              bdrates=(3=9 10=10) label='BANK2, Buydown';

      arm rate=5.75 worstcase caps=(0.5 2.5)
          adjustfreq=6 label='BANK3, Adjustable Rate'
          prepayments=(12=2000 36=5000);

      balloon rate=7.5 life=480
          points=1100 balloonpayment=(15=2000 48=2000)
          label='BANK4, with Balloon Payment';

      compare at=(120 360) all marr=7 tax=33 outcomp=comp;
   run;

   proc print data=loans;
   run;

   proc print data=comp; 
   run;

Output 13.4.1: OUTSUM= and OUTCOMP= Data Sets

Obs TYPE LABEL PAYMENT AMOUNT INITIAL POINTS TOTAL INTEREST RATE EFFRATE INTERVAL COMPOUND LIFE NCOMPND COMPUTE START END
1 FIXED BANK1, Fixed Rate 1890.52 150000 0 0 207839.44 57839.44 0.0750 0.077633 MONTHLY MONTHLY 110 110 PAYMENT DEC1998 FEB2008
2 ARM BANK1, Adjustable Rate 851.68 150000 0 0 390325.49 240325.49 0.0550 0.056408 MONTHLY MONTHLY 360 360 PAYMENT DEC1998 DEC2028
3 BUYDOWN BANK2, Buydown 673.57 150000 15000 0 288858.08 138858.08 0.0700 0.072399 SEMIMONTHLY SEMIMONTHLY 360 360 PAYMENT DEC1998 DEC2013
4 ARM BANK3, Adjustable Rate 875.36 150000 0 0 387647.82 237647.82 0.0575 0.059040 MONTHLY MONTHLY 360 360 PAYMENT DEC1998 DEC2028
5 BALLOON BANK4, with Balloon Payment 965.36 150000 0 1100 467372.31 317372.31 0.0750 0.077633 MONTHLY MONTHLY 480 480 PAYMENT DEC1998 DEC2038


Obs DATE TYPE LABEL PAYMENT INTEREST TRUERATE PWOFCOST BALANCE
1 DEC2008 FIXED BANK1, Fixed Rate 1772.76 57839.44 0.051424 137741.07 0.00
2 DEC2008 ARM BANK1, Adjustable Rate 1093.97 108561.77 0.052212 130397.88 130788.65
3 DEC2008 BUYDOWN BANK2, Buydown 803.98 118182.19 0.087784 161810.00 75798.19
4 DEC2008 ARM BANK3, Adjustable Rate 1065.18 107015.58 0.053231 131955.90 125011.88
5 DEC2008 BALLOON BANK4, with Balloon Payment 965.36 107906.61 0.052107 130242.56 138063.41
6 DEC2028 FIXED BANK1, Fixed Rate 1772.76 57839.44 0.051424 137741.07 0.00
7 DEC2028 ARM BANK1, Adjustable Rate 1094.01 240325.49 0.053247 121980.94 0.00
8 DEC2028 BUYDOWN BANK2, Buydown 800.46 138858.08 0.086079 161536.44 0.00
9 DEC2028 ARM BANK3, Adjustable Rate 1065.20 237647.82 0.054528 124700.22 0.00
10 DEC2028 BALLOON BANK4, with Balloon Payment 965.36 282855.86 0.051800 117294.50 81326.26

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