Mortgage Payment Calculator in Microsoft Excel

In cases where you might be considering buying a new house or making an investment in your business. Or where you might be helping people with particular mortgage decisions, the mortgage calculator in Excel can help you through the process. Excel’s mortgage calculator helps you understand and further analyze mortgages. Using already established formulas in the excel sheet, it helps you calculate mortgage and also establishes comparison of various scenarios where multiple variables can possibly affect the values of commodities like mortgages and cost of borrowing.

Excel Mortgage Payment Calc


Therefore, before closing your deals regarding buying a new house etc, excel monthly mortgage calculator can help you make an informed decision. Furthermore, it can help you identify the effect of changing interest rates on the outstanding mortgage values in terms of monthly payments. It can also shed important light regarding the costs that would be incurred in cases where a person decides to end his or her mortgages early.

How to Calculate a Mortgage Payment

The various features part of the mortgage calculator, as highlighted above briefly, include primarily that it shows how much a person can easily borrow for a certain amount of time and what would the monthly payment be respectively. Furthermore it can conveniently tell you the cost of a mortgage over a variable amount of time, according to your personal inclination or specification, even if it contains more than one variable. Moreover, it takes into account all the early repayment penalties in case you decide to end it earlier than the expected time period. You can also comfortably compare mortgages in amortization schedule on a “like-with-like” basis that can further tell you about the best value for money package or deal. Also, you can compare up to five different variables simultaneously to understand their effect on the mortgage value.

Mortgage Payment Calculator/Formula Components

The components of the mortgage payment schedule in excel include four main sections:

Financial Summary

It essentially summarizes all your finances that you have inserted in the spreadsheet and it combines them together in one place so that the financial data management becomes highly organized and convenient for you.

Affordability of Calculator

It deals with your monthly payments and tells you the amount you can easily borrow for a given time period conveniently.

Mortgage Loan Payment Calculator

For a given mortgage, it calculates the cost of borrowing and the monthly payments value respectively.

Amortization Schedule in Excel

It compares various mortgage deals popular in the market and their true cost over a certain time period so that you can make an informed decision about how you want to go about signing what deals and for how much time and when to sign them.

The last two components of mortgage loan amount calculator are specifically designed for interest-only mortgages where the interest is compounded every month and payments are also made at the end of the month. For cases otherwise, you might not get an accurate result but it will serve as a good approximation.

Therefore, excel customer loan calculator can be conveniently used to keep a record of your mortgage payments and their schedule without needing any prior accounting and finance knowledge.


Home Value: $
Loan amount: $
Interest rate: %
Loan term: years
Start date:
Property tax: %
PMI: %
Output parameters »
Mortgage Calculator by eXcelide

Denis Dion

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