Mortgage Calculator and Planner
With this all in one spreadsheet you will be able to see the amount of monthly payment you will have based upon your inputs. With this you can also plan out your savings and see how long it will take to reach a given goal. This goal is usually your desired down payment. This all in one sheet has the following tables to help you plan, and succeed in getting the mortgage desired. MS Excel 97 or above required
Mortgage Calculator
Calculate your monthly mortgage payment, the total loan payment over the life of the loan and well as the full interest payment.
This calculator requires only four variables: purchase price, down payment, interest rate, and loan term (yrs)
Interest and principal payment detail is illustrated for you via the graph on the right side of the worksheet.
Amortization Schedule
Based off of your assumptions used on the "Mortgage Calculator" tab, this sheet lays out each payment over the life of the loan.
At the beginning of the loan, you will see that most of your dollars go to covering the interest. In the out years, more and more
of your payment goes to paying down the principal.
Loan Optimizer
Choose the best loan scenario for your personal needs. This worksheet calculates over 300 different mortgage scenarios based on your inputs:
purchase price, down payment, down payment increment, interest rate, interest rate increment, and loan term.
Down Payment Savings Calculator
This three in one savings calculator solves for the following based on your selection:
How much will my savings grow to?
How much do I need to save each month?
How long will it take to save enough?
Affordability Calculator
Use this calculator to determine how much house you can afford based off of your income and current debt (car loan, credit cards, etc.)
You may choose your own housing cost-to-income ratio as well as the debt-to-income ratio (the industry standard is 28% and 36%, respectively)
Refinance Calculator
Based on your old/current mortgage and your new/potential mortgage, this worksheet will calculate your monthly mortgage reduction,
how much you will save over the life of the new loan and how many years until the refinancing costs are recouped.