If the escrow also includes homeowner's insurance, you need to add the annual policy cost, although you can estimate this using the national average of $481.Įnter "=PMT(A1/12,A2*12,A3)-A4-A5/12" in cell A6 to calculate your monthly payment. If you only wish to estimate taxes, enter "=A3*0.015" which estimates taxes as 1.5 percent of the loan amount. number of payments over the loan’s lifetime Multiply the number of years in your loan term by 12. Contact your local tax assessors office to find out the annual taxes on your property, which is paid via the escrow account. If your interest rate is 5 percent, your monthly rate would be 0.004167 (0.05/120.004167). If you only wish to estimate PMI, you can enter "=A3/1500" or "=A3/3700" which calculates PMI based on common formulas.Įnter the annual escrow amount in cell A5. This fee varies between lenders, so you need to contact the mortgage company to find out the amount they charge. Want more features View our website to see. mortgage on which the borrower pays either mortgage.
#Excel mortgage calculator pmi plus#
first mortgage plus a second mortgage to that of a larger first. What This Calculator Does: This calculator compares the total cost of a combination. higher interest rate on a jumbo as opposed to a conforming loan amount.
If you are borrowing $200,000, then you would enter "$200,000".Įnter the monthly PMI fee in cell A4. This Excel spreadsheet makes it easy to view the amortization of a home loan with optional extra monthly payments. a second mortgage, either to avoid mortgage insurance or to avoid the. In the example, if the loan was for 30 years, you would enter "30".Įnter the loan amount in cell A3. Enter the length of the mortgage in cell A2.
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