mortgage_calculations 0.1.10 → 0.2.1
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- data/README.rdoc +12 -9
- data/VERSION +1 -1
- data/features/step_definitions/apr_steps.rb +2 -1
- data/lib/mortgage_calc/mortgage_util.rb +4 -15
- data/mortgage_calculations.gemspec +2 -2
- data/spec/mortgage_calc/mortgage_util_spec.rb +22 -43
- metadata +29 -29
data/README.rdoc
CHANGED
@@ -1,15 +1,19 @@
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-
=
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+
= mortgage_calculations
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http://www.pathf.com/blogs/2010/02/mortcalc-gem/
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-
Calculates mortgage APR
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+
Calculates mortgage APR and monthly payments.
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== INSTALL
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$ sudo gem install
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$ sudo gem install mortgage_calculations
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or add following to your Gemfile
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gem "mortgage_calculations", :require => "mortgage_calc"
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or add the following to your <b>environment.rb</b>
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-
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config.gem 'mortgage_calculations', :lib => "mortgage_calc"
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==Example:
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loan_amount = 350000
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@@ -18,12 +22,11 @@ or add the following to your <b>environment.rb</b>
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lender_fee = 800
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points = 1.0
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mort_calc = MortgageCalc::MortgageUtil.new(loan_amount, interest_rate,
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mort_calc = MortgageCalc::MortgageUtil.new(loan_amount, interest_rate, total_fees, period)
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mort_calc.apr
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mort_calc.monthly_payment
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mort_calc.monthly_payment_with_fees
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mort_calc.total_fees
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==Formulas used
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===Monthly payment with fees
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@@ -46,4 +49,4 @@ or add the following to your <b>environment.rb</b>
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===Total fees
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Total fees are calculated simply by adding Lender fees to the points paid by borrower.
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-
T = E + P(C)
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T = E + P(C)
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data/VERSION
CHANGED
@@ -1 +1 @@
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0.1
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0.2.1
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@@ -1,5 +1,6 @@
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Given /^(.*), (.*), (.*), (.*), (.*)$/ do |loan_amount, fees, points, rate, period|
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fee = Float(fees) + Float(loan_amount) * Float(points)/100
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@mortgage_util = MortgageCalc::MortgageUtil.new(Integer(loan_amount), Float(rate), fee, Integer(period))
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end
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Then /^the resultant apr should be (.*)$/ do |apr_expected|
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@@ -1,13 +1,12 @@
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module MortgageCalc
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class MortgageUtil
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attr_accessor :loan_amount, :interest_rate, :period, :
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attr_accessor :loan_amount, :interest_rate, :period, :fee
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def initialize(loan_amount, interest_rate, period=360
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def initialize(loan_amount, interest_rate, fee, period=360)
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self.loan_amount = Float(loan_amount.to_s)
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self.interest_rate = Float(interest_rate.to_s)
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self.period = Integer(period.to_s)
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self.
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self.points = Float(points.to_s)
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self.fee = Float(fee.to_s)
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end
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def apr
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@@ -19,13 +18,7 @@ module MortgageCalc
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end
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def monthly_payment_with_fees
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@monthly_payment_with_fees ||= calculate_monthly_payment(self.loan_amount +
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-
end
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-
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-
def total_fees(negative_allowed = true)
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#fees may not be negative (borrower is not paid)
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total_fees = calculate_total_fees
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!negative_allowed && total_fees < 0 ? 0 : total_fees
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@monthly_payment_with_fees ||= calculate_monthly_payment(self.loan_amount + fee, monthly_interest_rate, self.period)
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end
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private
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@@ -37,10 +30,6 @@ module MortgageCalc
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amount * (monthly_rate/(1 - (1 + monthly_rate)**(-period)))
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end
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-
def calculate_total_fees
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-
self.fees + (self.loan_amount * points/100)
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-
end
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-
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# solves APR
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# [a (1 + a)^N] / [(1 + a)^N - 1] - P/C = 0
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# where a = APR/1200, N = period, P = monthly payment, C = loan_amount
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@@ -5,11 +5,11 @@
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Gem::Specification.new do |s|
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s.name = %q{mortgage_calculations}
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s.version = "0.1
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s.version = "0.2.1"
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s.required_rubygems_version = Gem::Requirement.new(">= 0") if s.respond_to? :required_rubygems_version=
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s.authors = ["Perry Hertler"]
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s.date = %q{
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s.date = %q{2011-02-14}
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s.description = %q{Utilities for Mortgage related calculations (APR and Monthly Payments)}
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s.email = %q{perry@hertler.org}
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s.extra_rdoc_files = [
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@@ -1,17 +1,20 @@
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require File.dirname(__FILE__) + '/../spec_helper'
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module MortgageCalc
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describe MortgageUtil do
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def assert_monthly_apr_payment_matches(loan_amount, rate,
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mortgage_util = MortgageUtil.new(loan_amount, rate,
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def assert_monthly_apr_payment_matches(loan_amount, rate, fee, period)
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mortgage_util = MortgageUtil.new(loan_amount, rate, fee, period)
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monthly_payment_with_fees = mortgage_util.monthly_payment_with_fees
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monthly_payment_from_apr = MortgageUtil.new(loan_amount, mortgage_util.apr,
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monthly_payment_from_apr = MortgageUtil.new(loan_amount, mortgage_util.apr, calc_total_fee(loan_amount, 0, 0), period).monthly_payment
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monthly_payment_with_fees.should be_within(0.01).of(monthly_payment_from_apr)
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end
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def calc_total_fee(loan_amount, points, fee)
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loan_amount * points/100 + fee
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end
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context "with valid MortgageUtil" do
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before(:all) do
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@mortgage_util = MortgageUtil.new(
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@mortgage_util_with_apr_as_rate = MortgageUtil.new(100000, @mortgage_util.apr, 360, 1200, 1.25)
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@mortgage_util = MortgageUtil.new(100_000, 6.0, calc_total_fee(100_000, 1.25, 1200), 360)
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end
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it "should have proper monthly interest rate" do
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@mortgage_util.send(:monthly_interest_rate).should == 0.005
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@@ -20,68 +23,44 @@ module MortgageCalc
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@mortgage_util.monthly_payment.should be_within(0.001).of(599.55)
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end
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it "should have proper total fees" do
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@mortgage_util.
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@mortgage_util.fee.should be_within(0.001).of(2450)
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end
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it "should have proper APR" do
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@mortgage_util.apr.should be_within(0.00001).of(6.22726)
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end
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end
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it "should calculate original monthly payment from APR" do
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assert_monthly_apr_payment_matches(
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assert_monthly_apr_payment_matches(
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assert_monthly_apr_payment_matches(
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assert_monthly_apr_payment_matches(
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assert_monthly_apr_payment_matches(
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assert_monthly_apr_payment_matches(300_000, 6.5, calc_total_fee(300_000, 1.25, 1200), 360)
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assert_monthly_apr_payment_matches(300_000, 6.5, calc_total_fee(300_000, 0, 0), 360)
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assert_monthly_apr_payment_matches(400_000, 1.1, calc_total_fee(400_000, 1.25, 1200), 180)
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assert_monthly_apr_payment_matches(300_000, 6.5, calc_total_fee(300_000, 7.25, 0), 360)
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assert_monthly_apr_payment_matches(300_000, 6.5, calc_total_fee(300_000, 7.25, 10000), 360)
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end
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# context "with very small loan amount" do
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# it "should calculate proper apr when loan_amount is very small" do
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# @mortgage_util = MortgageUtil.new(5000, 6.0, 360, 1200, 1.25)
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# puts "@mortgage_util.apr = #{@mortgage_util.apr}"
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# end
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# end
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# APR calculations from following web site are assumed to be accurate:
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# http://www.debtconsolidationcare.com/calculator/apr.html
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context "test apr calculation" do
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it "should calculate proper apr" do
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@mortgage_util = MortgageUtil.new(125000, 6.5,
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@mortgage_util = MortgageUtil.new(125000, 6.5, calc_total_fee(125_000, 0, 5000))
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@mortgage_util.apr.should be_within(0.001).of(6.881)
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end
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it "should calculate
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@mortgage_util =
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@mortgage_util.
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end
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end
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context "net negative fees" do
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before(:all) do
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@mortgage_util = MortgageUtil.new(100000, 6.0, 360, 1200, -11.25)
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@mortgage_util.total_fees.should eql -10050.0
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end
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it "calculate total fees should return actual total fees is less than 0" do
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@mortgage_util.send(:calculate_total_fees).should eql -10050.0
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end
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it "total fees should return 0 if total fees is less than 0" do
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@mortgage_util.total_fees(false).should eql 0
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end
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it "total fees should return actual fees if negative parameter is true" do
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@mortgage_util.total_fees(true).should eql -10050.0
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end
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it "should not return APR less than interest rate" do
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it "should calculate APR less than interest rate" do
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@mortgage_util = MortgageUtil.new(100_000, 6.0, calc_total_fee(100_000, -11.25, 1200))
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@mortgage_util.fee.should eql -10050.0
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@mortgage_util.apr.should be_within(0.00001).of(5.04043)
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end
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end
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context "initialize convert to best types" do
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before(:all) do
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@mortgage_util = MortgageUtil.new('
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@mortgage_util = MortgageUtil.new('100_000', '6.0', calc_total_fee(100_000, -1.25, 1200))
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end
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it "should convert rate to float if necessary" do
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@mortgage_util.interest_rate.class.should == Float
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end
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it "should convert
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@mortgage_util.
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it "should convert fee to float if necessary" do
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@mortgage_util.fee.class.should == Float
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end
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it "should convert loan_amount to float if necessary" do
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@mortgage_util.loan_amount.class.should == Float
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metadata
CHANGED
@@ -1,13 +1,13 @@
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--- !ruby/object:Gem::Specification
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name: mortgage_calculations
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version: !ruby/object:Gem::Version
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hash:
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hash: 21
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prerelease: false
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segments:
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- 0
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- 2
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- 1
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-
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version: 0.1.10
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version: 0.2.1
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platform: ruby
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authors:
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- Perry Hertler
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@@ -15,11 +15,14 @@ autorequire:
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bindir: bin
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cert_chain: []
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date:
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date: 2011-02-14 00:00:00 -06:00
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default_executable:
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dependencies:
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- !ruby/object:Gem::Dependency
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-
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prerelease: false
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type: :development
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name: rspec
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version_requirements: &id001 !ruby/object:Gem::Requirement
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none: false
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requirements:
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- - ~>
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@@ -30,12 +33,12 @@ dependencies:
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- 1
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- 0
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version: 2.1.0
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-
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name: rspec
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prerelease: false
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version_requirements: *id001
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requirement: *id001
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- !ruby/object:Gem::Dependency
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-
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prerelease: false
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type: :development
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name: cucumber
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version_requirements: &id002 !ruby/object:Gem::Requirement
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none: false
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requirements:
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- - ">="
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@@ -44,12 +47,12 @@ dependencies:
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segments:
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- 0
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version: "0"
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-
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-
name: cucumber
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-
prerelease: false
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-
version_requirements: *id002
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requirement: *id002
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- !ruby/object:Gem::Dependency
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-
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prerelease: false
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type: :development
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name: bundler
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version_requirements: &id003 !ruby/object:Gem::Requirement
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none: false
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requirements:
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- - ~>
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@@ -60,12 +63,12 @@ dependencies:
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- 0
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- 0
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version: 1.0.0
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-
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name: bundler
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-
prerelease: false
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-
version_requirements: *id003
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requirement: *id003
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- !ruby/object:Gem::Dependency
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-
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prerelease: false
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type: :development
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name: jeweler
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version_requirements: &id004 !ruby/object:Gem::Requirement
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none: false
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requirements:
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- - ~>
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@@ -76,12 +79,12 @@ dependencies:
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- 5
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- 1
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version: 1.5.1
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-
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name: jeweler
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-
prerelease: false
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-
version_requirements: *id004
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requirement: *id004
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- !ruby/object:Gem::Dependency
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-
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prerelease: false
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type: :development
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name: rcov
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version_requirements: &id005 !ruby/object:Gem::Requirement
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none: false
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requirements:
|
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- - ">="
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@@ -90,10 +93,7 @@ dependencies:
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segments:
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- 0
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version: "0"
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-
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name: rcov
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-
prerelease: false
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version_requirements: *id005
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requirement: *id005
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description: Utilities for Mortgage related calculations (APR and Monthly Payments)
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email: perry@hertler.org
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executables: []
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