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Like me, you might have used an online mortgage calculator to predict your payments. But how do those tools come up with your payment amount? Well, armed with Excel, you can easily calculate that magical number You can download the spreadsheet from the link at the bottom of this post. But I encourage you to read on for a step-by-step guide to calculating your mortgage payments using your favorite spreadsheet tool! Step 1: Enter your Mortgage Parameters First of all, you’ll need to collect the following data • Annual mortgage rate • Payment frequency (per year) • Compound period • Amortization period (in years) You can scan your mortgage provider’s website for typical rates and amortization periods. Here’s a list of typical payment frequencies (and the value you enter into the spreadsheet) Payment Frequency Payments Per Year Annually 1 Semi-Annually 2 Monthly 12 Semi-Monthly 24 Bi-Weekly 26 Weekly 52 The compound period can be rather confusing – different countries accumulate mortgage interest at different points in the year. US mortgages compound every month, Canadian mortgages, compound twice a year and UK mortgages compound once per year.

Andhra Pradesh Driving License Number Search on this page. Mortgage calculator with graphs, amortization tables, overpayments and PMI. The spreadsheets below can be saved to the hard drive of your computer by clicking on File and then Save As. Unless otherwise noted you must have Excel 2000 or later installed on your computer. Pdf To Dwg Converter Portable. Retirement Planning Calculator with Integrated Reverse Mortgage Options This spreadsheet allows users to plan their.

Other jurisdictions may have other compound periods, so double-check if you’re not sure. Here’s a summary of compound periods (and the value you enter into the spreadsheet). Country Compound Period US 12 Canada 2 UK 1 Enter these parameters into Excel like so. Here, I’ve formated the loan amount as currency, and the mortgage rate as a percent (right-click on each cell and click Format).