mortgage calcultor templates

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dovetail

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hello. I am just getting to grips with mortgage application,how repayments work, comparing different deals from banks etc. Can anybody recommend a website to download a good excel template? Should I use the APR rate for the calculations?
 
You can do it yourself on excel. You want to know the repayment (PMT on excel)

What you need are cells for

Rate (interest rate. Make sure you divide by 12 for monthly repayments)
Number of periods (mortgage term - multiple by 12 for the number of months you'll be repaying)
Present Value - your loan
Future value - 0
End or beginning - put in 1

Google the PMT function on excel. Then you can adjust the figures yourself


Steven
http://www.bluewaterfp.ie (www.bluewaterfp.ie)
 
I really don't know what you would need Excel for.

I have written a guide here:

A guide to mortgage repayment calculations

There is also a thread here which will help you identify the best lender:


I am hoping to do a revised version of this shortly.

APR is only appropriate when comparing variable rate mortgages. It is misleading for fixed rate mortgages.

And if you use current rates you will be misled by KBC and Bank of Ireland who don't pass on rate cuts to existing customers.

Brendan
 
Yes, there are easier calculators. Thank you Brendan! I had KBC as my first SVR mortgage preference because of the .2% discount with KBC current account.....in terms of KBC no passing on rate cuts to existing customer....that would mean that KBC would just leave me on the rate that they have applied at the time of drawing down the mortgage?
 
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