## Pages

Create a mortgage / loan calculator in Excel to calculate payments and loan time. Find out monthly payments with PMT function and analyze alternative scenarios with Excel's data analyzing tools.

### Monthly payments

To figure out our monthly payments, we need to know a few things:
1. Amount of loan needed.
2. Annual interest rate for the loan.
3. Loan time
4. Number of payments in year
5. Total number of payments. Example: 20 years is 240 months, because 20 x 12 = 240.

I have set up the data into an Excel sheet and calculated monthly payments with PMT function as can be seen the image below.

Function syntax:
=PMT(B4/B6;B7;B3)
Explanation:
1. RATE: divide the yearly interest rate in cell B4 with number of payments in year B6 so that we get the interest rate for each payment.
2. NPER: Total number of payments we can see in cell B7 (which can be calculated: B5 x B6).
3. PV: present value, total amount that series of future payments is worth now.
If you want to loose the negative value, add a minus infront of the PMT function:
=-PMT(B4/B6;B7;B3)
Calculate the total cost of loan: monthly payments x total number of payments.
=B9*B7
Calculate the cost of interest: total cost of loan - loan amount
=B11-B3

### What if analysis

Let's say we have an absolute ceiling of 900 euros for the payments. How long would the loan time have to be with in this case? If we want to analyze the loan / mortgage like this, we can use the What if analysis > Goal Seek under Data tab (see image below).

Select B9 to "Set cell", type 900 into "to value" and select B7 for the "By changing cell" field. Note: The value in B7 has to be in number format, functions do not work.

Click OK and you should get 270,78 to cell D5.

You can also do goal seeking for the interest rate by selecting it to the "By changing cell" field.

1. This is a perfect way of making our lives more simple and easy.. Thanks for this piece, via this have learned more about the latest tools and techniques.

Your post on excel advanced training is really useful. I agree with your thoughts, knowledge on excel is mandatory for everyone. Excel Training in Chennai | Advanced Excel Training in Chennai

3. Likewise extraordinary web journal here with the important's majority data you have.I truly appreciate basically perusing the greater part of your weblogs. Dallas FHA Loan Pros

4. Many people around the globe have the same desire. However for some this dream does not materialize into reality while others taste the sweet fruits of success very quickly. Payday loan for bad credit

5. This comment has been removed by the author.

6. There will likewise be forthright charges you should pay. Along these lines you ought to ensure that you comprehend the home loan process and pick both your credit program and your bank admirably. read the full info here

1. Hi, Great.. Tutorial is just awesome..It is really helpful for a newbie like me.. I am a regular follower of your blog. Really very informative post you shared here. Kindly keep blogging. If anyone wants to become a .Net developer learn from Dot Net Training in Chennai. or learn thru ASP.NET Essential Training Online . Nowadays Dot Net has tons of job opportunities on various vertical industry.
or Javascript Training in Chennai. Nowadays JavaScript has tons of job opportunities on various vertical industry.

7. Wisconsin Mortgage Corporation has been providing quality home loans across Wisconsin.Meet our loan officers. Please choose the loan officer that you were referred to view their personal page and apply online.Wisconsin Mortgage Each loan officer's page includes the following services.

8. I have read your blog its very Interesting. Thanks for sharing. ERP Providers in Chennai | ERP Software Company Chennai. We provide best quality cost effective ERP software applications and end to end enterprise solutions to all the industry verticals with the affordable cost.

9. Thank you for this valuable information. I have got some important suggestions from it. Get your business to the next level in simple steps.
ERP Solutions in Chennai | ERP Software Solutions in Chennai.

10. Thanks very much for this great article;this is the stuff that keeps me going through out these day.http://quorse.com/it-computing/Microsoft

11. Your blog is really amazing..Thank you,keep updating...
ITIL Certification Exam Center in Chennai | ITIL Certification Training in Chennai

12. I like it when individuals get together and share opinions. Great website, continue the good work! gmail email login

13. Mortgage debt includes first mortgages and second mortgages such as a home equity line of credit or home equity loans. Non-mortgage debt would be credit cards, medical bills, student loans, auto loans, other consolidation loans, and personal loans.guarantor loans

14. I found a lot of interesting information here. A really good post
office 2010 professional plus key deutsch

15. Good post and I like it very much. By the way, anybody try this increase app downloads? I do not how to use.

16. The website is looking bit flashy and it catches the visitors eyes. A design is pretty simple .
online marketing lüdenscheid

17. Your good knowledge and kindness in playing with all the pieces were
very useful. I don’t know what I would have done if I had not
encountered such a step like this.

java training in chennai

java training in bangalore

java training in bangalore

18. The website is looking bit flashy and it catches the visitors eyes. A design is pretty simple .
regionale stellenbörse

19. Nice article, I loved it.
personalrekrutierung

20. Your new valuable key points imply much a person like me and extremely more to my office workers. With thanks; from every one of us.

amazon-web-services-training-in-bangalore

21. Thank you for your information. I have got some important suggestions from it. Keep on sharing. Web Designing Summer Camp in Velachery | Web Designing Summer Classes in Chennai | Web Designing Summer courses in Taramani

22. You are doing a great job. You inspire me to write for other. Thank you very much. I would like to appreciate your work for good accuracy and got informative knowledge from here.
Best Summer Courses for Business Administration in Chennai | No.1 Vacation Classes in Velachery

23. Thanks for sharing your awesome blog with smart content.keep updating
Best Summer Courses in Nanganallur | No.1 Summer Courses in Nanganallur

24. Your blog is really amazing..Thanks for sharing such an wonderful blog...
Summer Course Training in Chennai | Summer Course Training in Meenambakkam

25. Great article your blog design and title is innovative and impress..update more information..Summer Courses in Chennai | Summer Courses in Thiruvanmiyur Chennai

26. Excellent information with unique content and it is very useful to know about the information based on blogs... Digital Marketing Summer Camp in Velachery | Digital Marketing Summer Classes in Chennai | Digital Marketing Summer courses in Taramani

27. www.mortgage-advice-online.org is the best online platform to calculate monthly mortgage and payments. Really liked it. www.mortgage-advice-online.org

28. Awesome post. Really you are shared very informative concept... Thank you for sharing. Keep on updating...
Adobe Photoshop Vacation Classes in Chennai | Best Technical Boot Camp in Chennai

29. Thanks for ones marvelous posting! I genuinely enjoyed reading it, you are a great author. I will be sure to bookmark your blog and may come back very soon.

angularjs training in chennai

devops training in chennai

digital marketing training in chennai

30. You're the best particularly for the high caliber and results-situated help. I won't reconsider to underwrite your blog entry to anyone who needs and needs bolster about this region.

aws training in chennai

selenium training in chennai

python training in chennai

31. In the event that ones home loan understanding is that has a governmentally represented monetary foundation such being a bank, the moneylender must supply you with a recharging presentation no less than 21 days before the complete of the current term. https://www.adlist24.com/

32. Thanks for this blog. provided great information. All the details are explained clearly with the great explanation. Thanks for this wonderful blog.
ISTQB Certifications Course in Chennai | QA Testing in Medavakkam

33. Really cool post, highly informative and professionally written and I am glad to be a visitor of this perfect blog, thank you for this rare info!
MS office course in chennai