Excel Spreadsheets for Download > Mortgage Calculator
Download Free Excel Mortgage Calculator Spreadsheet
This spreadsheet helps you analyse and understand mortgages. It calculates and compares various scenarios to show the effect of different variables on the mortgage, payments and cost of borrowing. It allows mortgage seekers to make an informed decision before signing a deal. Those with an existing mortgage can see how interest rate changes affect their monthly payments and how much it costs to end their mortgage early.
You can download the mortgage calculator at the end of this page.
Features
The spreadsheet...
- shows how much you can borrow for a given term and monthly payment
- shows the effect of interest rate changes on payments and cost of borrowing
- reveals the cost of ending a mortgage early while early repayment penalties apply
- reveals the cost of a mortgage over any period - even if it contains many variables
- compares mortgages on a like with like basis revealing the best value-for-money deal
- compares five scenarios side by side showing the effect of different variables at a glance
Components
The spreadsheet is divided into four components:
| Financial Summary |
Summarise your finances and bring them together in one place |
| Affordability Calculator |
Find out how much you can borrow for a given term and monthly payment |
| Payment Calculator |
Calculate monthly payments and the cost of borrowing for a given mortgage |
| Deal Comparator |
Compare mortgage deals and calculate their true cost over any period of time |
The Payment Calculator and Deal Comparator work with repayment as well as interest-only mortgages. Both calculators and the comparator are designed for mortgages where interest is compounded monthly and payments are made at the end of the month. Results are only accurate for mortgages where this is the case.
If you get different figures from your bank or another calculator, check the compounding and payment frequency of your mortgage and how interest was calculated. If compounding and payment frequency are not monthly, you will get a slightly inaccurate result from this calculator. However, it may still be useful by giving you an approximate figure.
Images
Click on a thumbnail to show a bigger image:
Financial Summary
Affordability Calculator
Payment Calculator
Deal Comparator
Download
The mortgage calculator was developed by Roger Hautle, the principal behind this web site; it's free for personal & commercial use and has been downloaded more than 60,000 times. The spreadsheet is easy to use and navigate, and there are plenty of comments explaining terminology in a simple way. I hope you find it useful and wish you all the best in finding a suitable mortgage.
The latest version is 4.0b (4 Mar 2017). It works with Microsoft Excel 2007 and later releases.
To save a calculator to your computer right-click a link and choose "Save Link/Target As...":
Both links will download the same mortgage calculator but the one with sample figures shows what sort of data to enter.
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