The Mortgage Calculator Template is your new best friend when it comes to optimizing your monthly mortgage payments and getting your house paid off faster than you initially expected! This amazing template gives you platforms in which to record your information quickly and efficiently. Just enter the information for your loan and the required payment amounts for each month. The mortgage template will automatically generate a comparative option that allows you to see how different payment amounts will affect your mortgage over time. This is the perfect tool to find the best payment option for you! Download this free template today and find the path to quickly paying off your home!
How to Use the Mortgage Calculator Template
Start in the top left-hand corner of the page. Here, you will enter your initial loan amount, the annual interest rate, the number of years for the loan, and the dollar amount for any extra monthly payments.
The “Loan Summary” table is a convenient section that gives you great information, such as the monthly payments you’ll be making, the number of payments needed to pay off your home, and all your totals.
In the table below, the mortgage template will automatically calculate the information you entered above and list what you need to enter in the title row, highlighted in green. Enter the number of your payment, the amount, interest, cumulative interest, principal amount, cumulative principal amount, your remaining balance on the loan, and your saved interest.
In the large table to the right of the Mortgage Calculator, you can see the effects of your extra monthly payments if you decided to choose that option. Using this, you can see the amount of money you’ll save on interest over time.
Finally, the graph at the top of your screen will compare your investment options and your extra mortgage payments and show you how quickly you can pay off your home and the amount you’ll save doing it.
Own your dream home faster than you ever thought possible by using the free Mortgage Calculator below!
best Features of the Mortgage Calculator Template
- Allows for multiple payment scenarios
- All your data is on one tab
- Calculates totals for you
- Includes a helpful graph for a clear visual representation
Download: Mortgage Calculator Template
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