Amort Schedule with Varying Dates & Partial First Payment

[FusionTommy]

I am analyzing a portfolio of loans. I set up my spreadsheet to run an amortization schedule for a sample loan, but what I am finding is that the loans have varying dates of when they were issued - 6/3/10; 3/18/09, etc, at all times of the month.

I am trying to create a spreadsheet that calculates the schedule correctly. If the loan is issued with a 5% interest rate, $25,000 initial amount, Start Date, 3/18/09, term: 180 months, how to handle this first months payment, and does it extend 180 months after the end of the first month???

HELP.

 

[Glory]

It's not clear what you're trying to achieve.

 

[FusionTommy]

I am trying to create a loan amortization schedule where you can type in the date of the start of the loan and it will automatically calculate a monthly amort. schedule for the loan based on the date of the loan and the first "stub" payment, then regular payments for the remainder of the loan term.

 

[JoeMo]

I am analyzing a portfolio of loans. I set up my spreadsheet to run an amortization schedule for a sample loan, but what I am finding is that the loans have varying dates of when they were issued - 6/3/10; 3/18/09, etc, at all times of the month.

I am trying to create a spreadsheet that calculates the schedule correctly. If the loan is issued with a 5% interest rate, $25,000 initial amount, Start Date, 3/18/09, term: 180 months, how to handle this first months payment, and does it extend 180 months after the end of the first month???

HELP.

Depends on the loan terms. Are payments due at the end of each period or at the start of each period? If a loan was initiated on 3/18/09, that's the start of the first month of the 180 months. If payment is due at the end of the period, then 1st payment is due by 4/18/09.

There are some Excel-based calculators available here: http://www.vertex42.com/Calculators/home-mortgage-calculator.html