How to Calculate Mortgage Payments in Excel

You can calculate the mortgage payments in Microsoft Excel such as calculating the borrowed amount monthly till the debt gets over, interest, and the basic amount of the loan. After doing this, you can make the payment schedule in Excel which will help you remember the monthly amount so you can pay your creditors on time. Go through the instructions mentioned below to calculate Mortgage Payments in Excel.

Mortgage Payments in Excel

Steps to Create a Mortgage Calculator in Microsoft Excel

  • Go to Microsoft Excel on the computer. In case you do not have

the Microsoft Excel already downloaded on the system, then you use Outlook extensions for creating a Mortgage calculator in Excel.

  • Choose the “Blank Workbook” option.
  • Make the “Categories” section. It will place into the “A” section. You have to press and all the divider among sections “A” and “B” to the right-hand side of the empty spaces so that the writing window does not close.
  • Type the values.
  • Use Excel Formulas to find out payments and savings.
  • Now, calculate the loan payments and costs.
  • After that, calculate the entire loan cost in Excel. You have to multiply the “payment per period “amount by the “Total number of payments” amount.
  • Then, you need to calculate the total interest you had paid. The other thing you have you do is to subtract the first amount of the loan with the total amount of the loan which you have already calculated on the steps mentioned above.

Steps to Calculate Amortization Schedule

  • Now, you have to make the loan schedule template to the right-hand side of the Mortgage template in Microsoft Excel.
  • Enter the total amount of the loan by clicking on the payment schedule. It will place into the top cell of the “Loan” section.
  • Place the top three cells in the “Date” and “Loan Payment” sections.
  • You can use the “Fill” feature for typing the remaining amount of the loan payment and the date when you had taken the loan automatically.
  • Choose the space located in the payment section.
  • Type the total amount of monthly loan payment in Excel.
  • Click on the “Enter” button.
  • Choose the space located in the “Interest” section.
  • Type the formula to calculate interest.
  • Tap on the “Enter” button.
  • Choose the top space located in the “Principle” section.
  • Type the formula to calculate principle.
  • Click on the “Enter” option.
  • Choose the top space located in the “Load” section.
  • Type the formula for calculating the loan.
  • Tap on the “Enter” button.
  • You can use fill feature for completing for the formula into adjacent cells. •    After that, calculate the loan administrator schedule in Microsoft Excel.

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Source : Calculate Mortgage Payments in Excel.

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