Mortgage Calculator

[Guest]

I am researching several housing options and instead of using my financial
calculator to determine payments I would like to use excel to account for the
variables to buying a home. I am sure there is an easy way to do this, but
as of yet I cannot discover it.

I have used the Fx menu and selected the PMT option. In this instance I
have simply put cell numbers in place so that Ican look at different
variables and how they would effect the mortgage payment. So far, I am off
by a factor of 100 (give or take) when I solve for PMT.

Any specific advice on what I can do in order to use excel for myevaluation
tool?

 

[Niek Otten]

Look here:

http://office.microsoft.com/en-us/assistance/HA010346401033.aspx?mode=print

--
Kind regards,

Niek Otten
Microsoft MVP - Excel

|I am researching several housing options and instead of using my financial
| calculator to determine payments I would like to use excel to account for the
| variables to buying a home. I am sure there is an easy way to do this, but
| as of yet I cannot discover it.
|
| I have used the Fx menu and selected the PMT option. In this instance I
| have simply put cell numbers in place so that Ican look at different
| variables and how they would effect the mortgage payment. So far, I am off
| by a factor of 100 (give or take) when I solve for PMT.
|
| Any specific advice on what I can do in order to use excel for myevaluation
| tool?

 

[Guest]

Niek,

Thank you. However, I am still on Microsoft Excel 2000. Is there anyway to
download or upgrade to 02, or is there a way to still use 2000?

Thanks,

 

[Tom Ogilvy]

http://office.microsoft.com/en-us/templates/TC010566201033.aspx

 

[Guest]

Try this. It should work. Payments will change as you pluck in different
options

1 b c d e
2 Rate Months Years Loan amount
3 8.00% 360 30 300000
4
5 ($2,186.72)

Cell c3= d3*12
Formula cell b5=pmt(b3/12,c3,e3,0,1) 1 at the end varies depending on
payments at the end or beginning of the month.

Good luck