DATETIME SELECT SELECT INTO DATE PAD STRING DYNAMIC SQL CURSOR MONEY FORMAT PERCENT STORED PROCEDURE SQL SERVER AGENT JOB OPTIMIZATION WHILE LOOP OVER PARTITION BY UPDATE
 
 
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How to build a mortgage refinance calculator?

Execute the following Microsoft SQL Server T-SQL script in SSMS Query Editor to find out the monthly payment for a 30-year fixed mortgage on 200,000 dollar principal with 5.5% interest rate:

declare @InterestRate money, @PeriodRate money, @Balance money
declare @Duration money, @Frequency money, @MonthlyPayment money

set @InterestRate=0.055
set @Frequency=12
set @[email protected]/@Frequency
set @Balance = 200000
set @Duration = 30


set @MonthlyPayment = ((@Balance*power([email protected],(@Duration*@Frequency)))*@PeriodRate)
/(power([email protected],@Duration*@Frequency)-1)

select [email protected], [email protected], [email protected]

Mortgage refinancing savings based on a refinancing a 30-year fixed mortgage of $200,000 with a 7.00% interest rate with a $200,000 mortgage at a 5.50% interest rate. The difference in payments is approximately $200 per month, or $2,400 annually. This analysis does not consider any closing costs or the effect of lengthening the term of the loan.



 

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DATETIME SELECT SELECT INTO DATE PAD STRING DYNAMIC SQL CURSOR MONEY FORMAT PERCENT STORED PROCEDURE SQL SERVER AGENT JOB OPTIMIZATION WHILE LOOP OVER PARTITION BY UPDATE