Monday, July 31, 2006

 

Mortgage calculators

Here are some good links I found:
www.mortgage-calc.com


The best mortgage calculator is Microsoft Excel. Try the function PMT and you will be amazed by the result.

Here is one detailled example:

Cell Content
C2 Years
C3 30
D2 Rate
D3 0.05
E2 Amount
E3 100000
F2 Monthly Payment
F3 PMT($D$3/12,$C$3*12,+$E$3)

The result of the payments is 536,82

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Comments:
I have an online mortgage calculator (java applet) on my website. It was inspired by the rip-off house prices in London and works out the effective premium you pay given the size of the loan and interest rate.
 
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