Mortgage spreadsheets...

[Tolwyn]

Hi,

I've got mortgage pre-quals and data from 4 different sources. Does anyone have a good mortgage spreadsheet that I could use to do some comparisons so I'm looking at apples to apples?

Thanks!

[jonesy]

i have a nice xl one if you want

[jonesy]

by nice, i mean it works well and allows you to juggle around a bunch of the variables. It isn't fancy

[jonesy]

Uses this forumula:

P=L[c(1+c)^n]/[(1+c)^n-1]

which looks like this in xl lingo:
=C3*(($B$12/12)*POWER((1+($B$12/12)),($B$15*12))/(POWER(1+($B$12/12),($B$15*12))-1))

and this for interest paid:
=(D3*12*$B$15)-C3
also calculates taxes/month.
lets you change, %down payment, term, rate
of course you have to see what the cells are for this to make sense. Anyways I can send it if you want.

[kevman]

Excel has a simple amortization calculator built in if all you're trying to do is compare monthly payments.

Open a new sheet
Right click on 'Sheet 1'
Chose 'Insert...'
Chose 'Spreadsheet Solutions' Tab
Load 'Loan Amortization' spreadsheet

If you unlock the spreadsheet it can be manipulated from a main cover sheet. You can then easily visualize the effects of interest rate and amortization period on interest paid over a term.

[Buzzard]

Everything and more here...a great little resource site.

http://www.vertex42.com/

[loob job]

I use this one a lot too.

http://www.bretwhissel.net/amortization/amortize.html

[Tolwyn]

Thanks guys, much appreciated!