November 30, 2021
Home Mortgage Calculator

Free House Mortgage Calculator for Excel

Our free House Mortgage Calculator for Excel is a robust all-in-one worksheet that mixes lots of the options from our different mortgage and mortgage calculators. It allows you to analyze a variable-rate mortgage or fixed-rate mortgage, and determine how a lot it can save you by making additional funds.


It helps you estimate the complete mortgage cost (together with insurance coverage and curiosity), however if you wish to estimate different month-to-month bills of proudly owning a house, you may strive our House Expense Calculator. Try our different mortgage spreadsheets as properly, and tell us when you want one thing that we do not have.

House Mortgage Calculator

Home Mortgage Calculator

“No set up, no macros – only a easy spreadsheet” – by Jon Wittwer


This Excel spreadsheet is an all-in-one house mortgage calculator. It allows you to analyze a constant or variable fee house mortgage. You may arrange periodic additional funds, or add further funds manually inside the Cost Schedule. Use the spreadsheet to check completely different time period lengths, charges, mortgage quantities, and the financial savings from making additional funds. It additionally calculates the excellent stability on the finish of a specified variety of years and the tax returned if the curiosity paid is tax deductible.

Older Model 1.3: screenshot

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Disclaimer: We imagine the calculations on this spreadsheet to be right, however we don’t assure the outcomes. As a result of your private monetary state of affairs is exclusive, it’s best to most likely seek the advice of your monetary advisor, accountant, and lending establishment earlier than making any monetary selections.

Utilizing this House Mortgage Calculator

Video: House Mortgage Calculator Demo

Video: Home Mortgage Calculator Demo

Details about use our free house mortgage calculator and definitions of a few of the phrases are included as cell feedback within the spreadsheet. So, in case you have questions, you may hover the mouse cursor over any cell that has just a little purple triangle within the nook.

This mortgage calculator may help you reply a few of the following questions:

  • How a lot can I save by making additional funds?
  • How does the tax deduction from paying curiosity change over time?
  • How a lot would possibly my month-to-month cost change over time if I’ve a variable-rate mortgage?
  • How quickly may I repay my house if I make additional funds?
  • What is going to my mortgage stability be on the finish of three or 5 years?

New Options of our House Mortgage Calculator

  • Estimates Property Taxes and Insurance coverage for calculation of the PITI cost.
  • Mechanically calculates so-called “Accelerated Bi-Weekly” funds.
  • Works for each US and Canadian mortgages (by way of the compounding choice).
  • Extremely versatile additional cost choices.
  • Choose a fixed-rate or variable fee mortage.
  • Select when to start out the scheduled additional funds.

Analyzing an Current Mortgage

There are a few methods to investigate your present house mortgage.

The primary is to enter the unique mortgage quantity and date after which make changes to the cost historical past inside the Cost Schedule as wanted. That’s the easiest resolution, so we have added a brand new function to the Further Funds part (on the suggestion of one in every of our customers) that permits you to specify what cost you need the additional funds to start out at. So, when you’ve already been making funds for a few years, you may select to have scheduled additional funds begin on cost quantity 25.

The second strategy is to enter the present mortgage stability and alter the time period size till the PI cost matches what you’re at the moment paying. Do not forget that if paying month-to-month, you may enter a fraction of a 12 months by getting into a worth like =10+5/12 (for 10 years and 5 months).

Word: This mortgage calculator does NOT work for so-called “easy curiosity mortgages” – you may must strive our Easy Curiosity Mortgage Calculator as a substitute. It additionally does not work for interest-only mortgages. For that choice, try our new Curiosity-Solely Mortgage Calculator.

Utilizing Purpose Search to Remedy for the Mortgage Quantity

If you wish to remedy for the mortgage quantity by altering one thing else that’s arrange as a components (such because the month-to-month Cost), you should use the Purpose Search function in Excel. Watch the video beneath to see how.

Utilizing Purpose Search in Excel

Word: That is an older video, and though the person interface is completely different now, the Purpose Search function nonetheless works the identical method.

References & Assets

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