This explanation describes how to set up mortgage amortizations on an
Excel or Lotus spreadsheet,
including sample spreadsheets.
Use this if you make irregular prepayments.
Glenn Hubbard Refinancing Proposal Calculator -
For some reason this proposal is not very well known but it makes a lot of
sense: to allow not just those whose mortgages are under water to refinance
easily, but to allow anyone with a higher rate mortgage refinance at
current record low rates and with reduced closing costs. It makes a lot of
sense to me.
2010 Refinance Calculator - My latest
refinance calculator figures out when a new refinancing would start saving you
money compared to just taking the closing costs money and using that to pay
down your mortgage balance. I had been thinking of refinancing down our 4.91%
loan (as ridiculous as that sounds) to see what the best option is for us.
Try it out an see what you think!
MortgageSum Calculator Download - Another satisfied customer has purchased my handy,
dandy standalone Windows based mortgage calculator application. Let me know if
you want me to write something for your site too!
FICO Credit Score, LTV Interest Rate Adjustment
Calculator. I found the numbers for this calculator from a library book I
read about mortgages by
Dale Robyn Siegel, so I thought I would turn it into an online calculator.
You enter your home value, down payment (or home equity), FICO credit score
and the current market interest rate, and the calculator will estimate what
rate you would really end up paying on a mortgage in your situation.
HELOC Cost Calculator Another idea sent to
me to calculate how much you "save" in taxes by paying tons of interest to
some financial institution while watching the debt dependent on your home
equity grow without end. The e-mailer told me some folks use their HELOC's like
credit cards, throwing just about anything on it under the guise of "tax
savings". No wonder our country is so debt crazy! Used correctly, HELOC's can
be great borrowing products; used poorly they just put you more in debt.
Pay off or Keep a loan? -
Did Granny leave a bundle and you can't decide whether to pay off
the mortgage or keep it and invest it all? Look here for help!
Monthly Payments per $1,000 borrowed
Realtors and mortgage brokers used to have to use these tables all
the time to figure out what your monthly payment would be (before the
time when everybody had computers). It is still a useful table for some.
This provides a very generic and flexible interface to compare two
loans especially now when the rates are so low that refinancing can take
place in a variety of ways (i.e. you can increase your loan balance and
still pay less interest each month!). I have been getting lots of refi
questions lately so I have made this comparison as flexible as possible.
Generic Loan Amortization -
It seems people want to see weekly, daily, quarterly, you name it
amortizations. Okay, I will make a generic loan amortization
where you specify the number of periods per year. Works exactly
the same using PHP!
E-Mail amortization Forms --
Straight Amortization or
Some people complain that their browsers crash when pulling down an
amortization schedule. Well, now I will e-mail you one! You can either use
a full schedule without any prepayment, or start with your current loan
amount and enter any monthly payment amount you want. Having it as e-mail
makes an easier permanent record for printing, importing or just to fill up
Rule of 78 Loan Calculator
A few people have asked me about this one, so I researched it out and wrote
it up. Boy, these loans are weird!
nitty gritty of your amortization and lets you change any variable
anywhere (rate, payment, etc) This is good to track non-uniform
principal prepayments, and also ARM's where rates change. Note that
this is for 60 months (5 years) only.
calculator. It just takes a few inputs and figures out your monthly
Income Qualification Calculator - UPDATED I
calculated the numbers right but explained them out
wrong! I don't want people to think they can buy more
than they can really qualify for!
Prepayment calculator - UPDATED Take your
current balance and look at your loan reduction. Does
biweekly mortgages too. Now it allows input of your
originating loan values.
Loan Calculator - Only three inputs, loan amount,
interest and length of loan, calculates the monthly
payment for any type of fixed payment, fixed period
amortized loan (mortgage, car loan, etc).