Different interest rate caps (periodic, lifetime and initial rate increase. This also means your program will be able to handle fixed rate mortgages) [1/4/2];
Payment caps (with neg am cap; assume once this is hit, the loan becomes amortizing according to 5 below) [10%, 120%];
Different reset periods. While the index should be recomputed monthly, the reset should be specified in years (see also 6 below) ;
Different mortgage terms (up to 360 months) ;
Different amortization terms ;
Differing hybrid types (1/1, 3/1, 5/1, etc.), along with the rate for the fixed interest rate periods [3/1, 3.5%];
Differing initial index rate [Use index path in attached].
The inputs above (along with the margin [2.5%] and loan amount [100k]) must be taken from a separate input sheet. That is, if I change any of the terms above in one input cell on the input tab, the amortization schedule (CF sheet) should correctly re-compute without having to alter anything in the CF amortization sheet.
(For this part of the project) use the sample index path as given in the accompanying file “InterestRatePath2Use.xlsx.”