Home » Mortgages » Mortgage Amortization » Mortgage Amortization Spreadsheet

Mortgage Amortization Spreadsheet

Do you need to understand how to use a mortgage amortization spreadsheet? The following page is designed to explain what a mortgage amortization spreadsheet is and how it may be used to help you understand the impact of payments on your mortgage loan.

Introduction To Mortgage Amortization Spreadsheet Concepts

After you have scanned the market for your mortgage loan you may find yourself in a state of confusion. You will probably have researched several different mortgage loans offered by a variety of lenders and may be unsure of what the real impact of signing the dotted line will be. You might be uncertain whether the type of deal or interest rate offered by the mortgage lender is the best fit for the term and of the mortgage you are looking for and your own personal financial circumstances. You might also be unsure about how the payment schedule (i.e. the mortgage amortization schedule) will work out over the term ? Or you may feel just a little nervous in case you have not done all your homework. This is where a mortgage amortization spreadsheet can help.

What Is A Mortgage Amortization Spreadsheet?

Mortgage amortization spreadsheets synonomous with mortgage amortization schedules. They are often based upon functions that calculate the repayments on a mortgage loan based upon regular and steady payments at a constant and steady rate of interest (i.e. a fixed mortgage interest rate).

Mortgage amortization spreadsheets can give you a raft of figures to look at so that you can properly compare mortgage rates and terms in order to pin down the best one for you. A mortgage amortization spreadsheet can help you to analyze the monthly principle as well as the interest repayments so that you can get a clear understanding of your monthly mortgage amortization schedule and its impact upon your monthly outgoings.

Principal Benefits Of Mortgage Amortization Spreadsheets

Perhaps most useful for some people, mortgage amortization spreadsheets can help you to project “what if” scenarios. A sophistacted amortization spreadwill allow you to:

  • Calculate the loan repayments as well as the interest on the loan itself
  • See a summary of your mortgage loan including a list of principal and interest payments to the point where the mortgage is amortized
  • Calculate the impact of extra or over payment in order to reduce the cost of the mortgage loan.

Taking the time and making a small effort to build an amortization schedule through a spreadsheet package can give you more control over your finances. Many websites offer free amortization spreadsheets. Carry out a Google search on the term “download a mortgage amortization spreadsheet” and you should be able to find several sites that offer such a tool free of charge.