Mortgage calculator

[Aaron]

Has anybody used a mortgage or loan calculator from one of the banking
sites? I would like to build one in Excel. Any help would be
appreciated.

 

[Tim Otero]

Hi Aaron,

There is a template here:
http://search.officeupdate.microsoft.com/TemplateGallery/ct139.asp

Pretty good discussion about how the formulas work here:
http://makeashorterlink.com/?Y47922935

Also, in Norman Harker is out there, he has in the past offered to send a
few examples, by direct request.

tim

 

[Paul Corrado]

Aaron,

What exactly would you like your mortgage calculator to do?

 

[Jim Cone]

Aaron,

I've written an Excel Add-in that "Calculates Payments". The user enters
loan amount, interest rate, term of loan, payments per year. It you, or
others out there, would like a copy, please let me know. (the programming
code, however, is not available for viewing)

Regards,

Jim Cone
San Francisco, CA
'*****************

 

[Norman Harker]

Hi Aaron!

Start off by looking at the following functions:

PV can find affordable loan
RATE can find effective interest rate
NPER can find unexpired term of loan
FV can find balance of a loan
PMT can calculate loan payments

IPMT returns the interest element in a loan payment
PPMT returns the interest element in a loan payment

Then in Analysis ToolPak:

CUMIPMT cumulative interest between two periods
CUMPRINC cumulative principal repaid between two periods

For more flexible calculations you might need to set up an
amortization schedule (examples available on direct request).


--
Regards
Norman Harker MVP (Excel)
Sydney, Australia
Public Holidays Friday: Belgium (Flemish Community Holiday and
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Excel and Word Function Lists (Classifications, Syntax and Arguments)
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