How do I calculate monthly mortgage payments? 相關
廣告本行律師團隊龐大，員工超過百人，天天接收查詢，致力提供高效率及專業法律服務給普羅大眾。 提供樓宇買賣、查契驗契、轉名、贖契、轉按等法律服務，收費大眾化，歡迎查詢。
搜尋結果
- Monthly mortgage payments are calculated using the following formula: P M T = P V i (1 + i) n (1 + i) n − 1 where n = is the term in number of months, PMT = monthly payment, i = monthly interest rate as a decimal (interest rate per year divided by 100 divided by 12), and PV = mortgage amount (present value).
www.calculatorsoup.com/calculators/financial/mortgage-calculator.php
其他人也問了
How do I calculate my mortgage payment?
What is mortgage calculator?
How do I calculate my monthly interest rate?
What should a monthly mortgage payment include?
Calculate property and car park mortgage repayment amount with changeable mortgage interest rates under monthly and fortnightly plan for comparison on the mortgage loan interest saved and shortened repayment period.
Please enter the following information to calculate the Monthly Installment Amount and generate the example of Repayment Schedule: Loan Amount. HK$ Annualized Interest Rate (p.a.) % Repayment Period. Years. Calculate Reset. Notes: This above calculation is for reference purpose only.
- Overview
- Calculating Mortgage Payments Using a Spreadsheet Program
- Calculating Mortgage Payments with an Equation
- Creating an Amortization Schedule
- Useful Documents
If you're considering buying a house or another type of property, you'll likely have to shop around for a mortgage loan. This type of loan is specific to property purchases and usually carries a low interest rate compared to other loans. This is because the loan is secured using the property, meaning that the lender, in many cases a bank, has the right to seize the property in the event that the borrower fails to pay them back.
As such, it's important to find the loan with the cheapest rate you can so that you can pay it back responsibly and in a reasonable amount of time. Use the following methods to calculate your monthly payments so that you can make the right choice.
Mortgage payments can be easily found using your chosen spreadsheet program. This function, in all major spreadsheet programs (Microsoft Excel, Google Spreadsheet, and Apple Numbers), is known as PMT, or the payment function.
It combines information like your interest rate, number of periods, and principal to arrive at an amount for each monthly payment.
For simplicity, we will be focusing on Microsoft Excel's PMT function here. The process and inputs will likely be identical or very similar for any other program you are using. Consult the help tab or customer service if you have any problems using these functions.
Start using the PMT function.
Start using the PMT function by typing
into your spreadsheet. The program will then prompt you for the proper entries into each part of the function by showing the following: PMT (rate, nper, pv, [fv], [type]). The first three represent required inputs, while the last two are optional.
In order to calculate the monthly payment, we can rely on a relatively simple equation. The monthly payment equation can be represented as follows: . These variables represent the following inputs:
M is your monthly payment.
r is your monthly interest rate, calculated by dividing your annual interest rate by 12.
n is your number of payments (the number of months you will be paying the loan)
Input your information into the equation.
You will need to input your principal, monthly interest rate, and number of payments in order to find your monthly payment. This information can be easily found in your loan agreement or from a quoted loan estimate. Check the information again to be sure of its accuracy before using it in calculations.
Set up your amortization schedule.
An amortization schedule will tell you exactly how your monthly mortgage payments will be split between paying off principal and interest and what your balance will be at the end of each month. Start by inputting the basics of your loan information in the top left of a spreadsheet program. For example, in cell A1, write out "annual interest rate." Then, input your annual interest rate as a percentage in the next cell over, B1. Continue down to cell A2 for the loan duration in years, inputting the amount in column B as before. Do the same for payment per year and loan principal in cells A3 and A4, respectively.
Create your amortization schedule columns.
Skip a line under your loan information. Then, place the following words across the spreadsheet, in row 6 from columns A to E:
Fill out your first month's amortization.
Directly under the column headers you just created, start filling out your loan information. Under payment number, place a 1. Then, under payment amount, type in "=pmt (B1/B3,B2*B3,B4)". This is the payment function. Under principal payment, type "=ppmt (B1/B3,A7,B2*B3,B4)". This is the principal payment function and it shows the amount of the principal paid down each month. Under interest payment, type "=ipmt (B1/B3,A7,B2*B3,B4)". This is the interest payment function and it shows the amount of interest paid down each month. Finally, under loan balance, type "= (B4+C7)".
It's easiest to use an online mortgage loan calculator.
Online calculators that can find your monthly payment with the simple input of a few pieces of key information. Try searching for "mortgage loan calculator" using your preferred search engine. Usually, you'll have to input details of your loan, like the number of years, annual interest rate, and value of your principal. Then, simply hit "calculate" and the provided readout should tell you anything else you need to know.
This can also be a useful way to compare mortgage plans. For example, you may be deciding between a 15-year loan at 6 percent or a 30-year loan at 4 percent. The calculator will help you easily see that, despite the higher interest rate, the 15-year loan is a cheaper option.
Depending on the terms of your mortgage loan, you may be able to pay more than your required payment each month and apply your extra amount to interest or your principal. Contact your lender to see if this is a possibility.
2024年7月9日 · You can calculate your monthly mortgage payment by using a mortgage calculator or doing it by hand. You'll need to gather information about the mortgage's principal and interest rate, the length of the loan, and more.
Mortgage Calculator is a simple tool that helps you to calculate your monthly mortgage payment. All you need is to fill in the property price, mortgage amount, interest rate and loan tenor What is Prime Rate Based Mortgage Plan?
2024年9月16日 · To calculator your mortgage payment, you'll need your principal loan amount, your interest rate, loan term, property taxes, and any home insurance payments (if you pay it with your mortgage).
Check out the web's best free mortgage calculator to save money on your home loan today. Estimate your monthly payments with PMI, taxes, homeowner's insurance, HOA fees, current loan rates & more. Also offers loan performance graphs, biweekly savings comparisons and easy to print amortization schedules.
How do I calculate monthly mortgage payments? 相關
廣告HK Mortgage Referral Application Form & More Fillable Forms, Register and Subscribe Now! signNow allows users to edit, sign, fill and share all type of documents online.
Good value and easy to use - G2 Crowd
USlegalForms allows users to edit, sign, fill and share all type of documents online. Edit PDFs, Create Forms, Collect Data, Collaborate with your team, Secure Docs and More.
貸款合約清晰，無隱藏條款，立即申請. 按揭貸款最高按足8成，不限物業種類，還款期長達30年，特設淨供息計劃及樓花按揭。
