Mortgage Calculators
What is Mortgage Calculators?
Mortgage calculators are financial tools that help individuals determine their monthly mortgage payments based on factors such as loan amount, interest rate, and repayment period. These calculators take into account various variables, allowing users to estimate how much they would need to pay each month towards their mortgage.
What are the types of Mortgage Calculators?
There are several types of mortgage calculators available to users, each serving a different purpose. Some common types include:
Loan Payment Calculator: This calculator helps users determine their monthly loan payments based on factors like loan amount, interest rate, and loan term.
Affordability Calculator: This calculator helps users determine how much they can afford to borrow for a mortgage based on their income, expenses, and other financial factors.
Refinance Calculator: This calculator helps users analyze whether refinancing their mortgage would be financially beneficial by comparing the potential monthly savings to the costs associated with refinancing.
Amortization Calculator: This calculator helps users understand how their mortgage payments are applied to principal and interest over time, providing a detailed payment schedule.
Bi-Weekly Mortgage Calculator: This calculator shows users how much they could save by making bi-weekly mortgage payments instead of monthly payments.
Mortgage Comparison Calculator: This calculator allows users to compare different mortgage options by evaluating factors such as interest rates, loan terms, and closing costs.
How to complete Mortgage Calculators
Completing mortgage calculators is a straightforward process that can be done in a few simple steps. Here's how:
01
Enter the loan amount: Input the amount of money you plan to borrow for your mortgage.
02
Specify the interest rate: Enter the annual interest rate you expect to pay on your mortgage.
03
Select the loan term: Choose the length of time (in years) over which you plan to repay the loan.
04
Provide additional details if required: Some calculators may ask for additional information, such as property taxes or insurance costs, to provide a more accurate estimation.
05
Click on calculate: Once you have entered all the necessary information, click on the calculate button to generate the results.
06
Review the results: The calculator will display the estimated monthly mortgage payment and other relevant details based on the information provided.
07
Adjust as needed: If the calculated payment is higher than your budget, you can adjust the loan amount, interest rate, or loan term to see how it affects the monthly payment.
08
Repeat for different scenarios: You can use the calculator multiple times with different inputs to compare various mortgage options.
pdfFiller empowers users to create, edit, and share documents online. Offering unlimited fillable templates and powerful editing tools, pdfFiller is the only PDF editor users need to get their documents done.
Video Tutorial How to Fill Out Mortgage Calculators
Thousands of positive reviews can’t be wrong
Read more or give pdfFiller a try to experience the benefits for yourself
Questions & answers
How do I set up a mortgage calculator in Excel?
0:21 3:47 How to Create a Mortgage Calculator With Microsoft Excel - YouTube YouTube Start of suggested clip End of suggested clip Open microsoft excel let's give a heading name click in a cell and type mortgage calculator in theMoreOpen microsoft excel let's give a heading name click in a cell and type mortgage calculator in the next row type loan amount. And then in the next row type annual.
How do I calculate 30 year mortgage payment in Excel?
=PMT(5%/12,30*12,180000) The rate argument is 5% divided by the 12 months in a year. The NPER argument is 30*12 for a 30 year mortgage with 12 monthly payments made each year. The PV argument is 180000 (the present value of the loan).
Is there a mortgage function in Excel?
PMT, one of the financial functions, calculates the payment for a loan based on constant payments and a constant interest rate. Use the Excel Formula Coach to figure out a monthly loan payment.
What is the formula for a mortgage calculator?
These factors include the total amount you're borrowing from a bank, the interest rate for the loan, and the amount of time you have to pay back your mortgage in full. For your mortgage calc, you'll use the following equation: M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1].
How do I calculate mortgage principal and interest in Excel?
0:00 1:00 Calculate Principal and Interest per Loan Payment - Excel #Shorts YouTube Start of suggested clip End of suggested clip Now if we want to get the interest that we're paying just copy this ctrl c to copy press escape goMoreNow if we want to get the interest that we're paying just copy this ctrl c to copy press escape go into the cell. Control v to paste. And just instead of p p m t i pmt press enter.
How do I calculate mortgage amortization in Excel?
How to make a loan amortization schedule with extra payments in Excel Define input cells. As usual, begin with setting up the input cells. Calculate a scheduled payment. Set up the amortization table. Build formulas for amortization schedule with extra payments. Hide extra periods. Make a loan summary.
Related templates
