Our free Home Mortgage Calculator for Excel is a powerful all-in-one worksheet that combines many of the features from our other mortgage and loan calculators. It lets you analyze a variable-rate mortgage or fixed-rate mortgage, and figure out how much you can save by making extra payments.
It helps you estimate the full mortgage payment (including insurance and interest), but if you want to estimate other monthly expenses of owning a home, you can try our Home Expense Calculator. Check out our other mortgage spreadsheets as well, and let us know if you need something that we don’t have. To obtain a commercial use license, purchase the Imperialcreatelab Loan Amortization Schedule. This mortgage calculator is included as one of the bonus spreadsheets.
This Excel spreadsheet is an all-in-one home mortgage calculator. It lets you analyze a fixed or variable rate home mortgage. You can set up periodic extra payments, or add additional payments manually within the Payment Schedule. Use the spreadsheet to compare different term lengths, rates, loan amounts, and the savings from making extra payments. It also calculates the outstanding balance at the end of a specified number of years and the tax returned if the interest paid is tax deductible.
Information about how to use our free home mortgage calculator and definitions of some of the terms are included as cell comments in the spreadsheet. So, if you have questions, you can hover the mouse cursor over any cell that has a little red triangle in the corner.
This mortgage calculator can help you answer some of the following questions:
- How much can I save by making extra payments?
- How does the tax deduction from paying interest change over time?
- How much might my monthly payment change over time if I have a variable-rate mortgage?
- How soon could I pay off my home if I make extra payments?
- What will my loan balance be at the end of 3 or 5 years?
New Features of our Home Mortgage Calculator
- Estimates Property Taxes and Insurance for calculation of the PITI payment.
- Automatically calculates so-called “Accelerated Bi-Weekly” payments.
- Works for both US and Canadian mortgages (via the compounding option).
- Highly flexible extra payment options.
- Select a fixed-rate or variable rate mortage.
- Choose when to start the scheduled extra payments.