Get our free excel mortgage calculator spreadsheet to estimate your monthly mortgage payment
Totally Free! Only requires Microsoft Excel
Our excel mortgage calculator comes with all the features you need to quickly estimate your mortgage payments under various scenarios
Get a monthly schedule of principal & interest payments, PMI and more
The calculator allows extra monthly payments, either on a recurring or exceptional basis
Our excel calculator is also adapted to Interest-Only Loans
Your Loan Amortization Schedule can easily be printed and shared with others
Up to 30-year mortgage projections, with multiple parameters
All parameters are entered in one area of the Excel spreadsheet, making it very easy to use, even for complete excel beginners
Quickly assess the impact of an interest-only period or some extra principal payments on your repayment schedule and the total cost of your financing
Track down your debt repayment on a yearly basis, over the life of your loan
Determine how much goes towards principal repayment vs. interest
Know exactly how much your financing strategy is costing you over the life of your investment
The excel mortgage calculator is composed of 3 sheets but only the “Mortgage” tab requires any input from users.
Key mandatory fields include:
Other optional fields that may apply to your situation include:
Yes, our excel mortgage calculator is completely free to use.
Unlike other online mortgage calculators, our spreadsheet can be used offline as long as you have Microsoft Excel installed on your computer. Additionally, your work can easily be saved and continued later. On the privacy and security side, no data is being shared or tracked by external third parties: what is in your spreadsheet stays in your spreadsheet!
Finally, the spreadsheet offers additional tools and features that most online mortgage calculators don’t provide such as custom or recurring optional extra payments, interest-only loans, and payment of Private Mortgage Insurance based on a Loan To Value threshold.
Finally, the spreadsheet is easy to print and easy to share with others.
Absolutely, you can either add recurring monthly extra payments or custom payments on a month-to-month basis
Prepaying your mortgage with extra principal payments will have two key impacts on your mortgage:
Prepaying your mortgage will however not reduce your monthly payment.
Private Mortgage Insurance is usually required by conventional mortgage lenders when home buyers put down less than 20% of the home’s purchase price. Note that the average annual PMI premium typically ranges from 0.55% to 2.25% of the original loan amount each year. In most cases, PMI will continue to be paid until the Loan To Value (LTV) reaches 80% or below (the lender is required to stop PMI payments when the LTV reaches 78%).
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