mortgage calcuation

[jlambert]

I really need help with a formula to calculate the loan
amount based on the mortgage payment, interest rate and
term.
How would you calculate this in Access (any version)

mortgage payment
interest rate
loan term (in months or years)
= loan amount.
Basically I am trying to calculate the maximum loan a
borrower would qualify for if they could only afford a
certain payment amount monthly. This would be a huge help.
I am a mortgage underwriter and this is a critical need in
an access database I am designing. I am willing to pay a
small fee for this formula.
Thanks so much

 

[tina]

i'd say pretty much the same way you would calculate it in Excel or on
paper, a math equation is a math equation. (mortgage payment + (mortgage
payment * interest rate)) * months = loan amount
or ((mortgage payment + (mortgage payment * interest rate)) * 12) * years =
loan amount

hth