Mortgagerb

Calculates monthly payment for various types of mortgage. To learn more about how the calculations are done, see amortizing loan.

Currently supported loan types

30 year fixed
Others coming soon

Installation

Install the gem and add to the application's Gemfile by executing:

$ bundle add mortgagerb

If bundler is not being used to manage dependencies, install the gem by executing:

$ gem install mortgagerb

Usage

require 'mortgagerb'

rate = 5.5
principal = 1000000
type = :thirty_year_fixed 

scenario = Mortgagerb::Scenario.new(principal, rate, type)
amortization_payment = scenario.calculate # 5677.89

Get the 30-Yr FRM and 15-Yr FRM from Freddie Mac

The gem will scrape Freddie Mac's website in order to get the rates. Use this responsibly. Do not over-scrape the website. Cache the value locally. Check for new data seldomly.

require 'mortgagerb'

rates_now = Mortgagerb::FreddieMac.now
frm30 = rates_now[:fmr30] # 7.77
frm15 = rates_now[:frm15] # 6.66

Development

After checking out the repo, run bin/setup to install dependencies. Then, run rake test to run the tests. You can also run bin/console for an interactive prompt that will allow you to experiment.

To install this gem onto your local machine, run bundle exec rake install. To release a new version, update the version number in version.rb, and then run bundle exec rake release, which will create a git tag for the version, push git commits and the created tag, and push the .gem file to rubygems.org.

Contributing

Bug reports and pull requests are welcome on GitHub at https://github.com/serv/mortgagerb.

License

The gem is available as open source under the terms of the MIT License.

mortgagerb