Interest Only Mortgage Payment Formula

Kulata

New Member
Joined
Apr 4, 2002
Messages
26
I know the formula to calculate a mortgage payment:

=-PMT((Interest Rate%/12),(Years*12),Loan Amount))

What is the formula to calculate an interest only mortgage payment?

Thanks for your help!
 

Excel Facts

Remove leading & trailing spaces
Save as CSV to remove all leading and trailing spaces. It is faster than using TRIM().

hatman

Well-known Member
Joined
Apr 8, 2005
Messages
2,664
Umm, I think it's just =Loan Amount*interest Rate %/12
 

hatman

Well-known Member
Joined
Apr 8, 2005
Messages
2,664
Why not use the simplest solution? My other thought is that as Years approaches infinity, the Pmt() function will approach P*I/12...
 

Watch MrExcel Video

Forum statistics

Threads
1,130,112
Messages
5,640,173
Members
417,129
Latest member
geekzilla

We've detected that you are using an adblocker.

We have a great community of people providing Excel help here, but the hosting costs are enormous. You can help keep this site running by allowing ads on MrExcel.com.
Allow Ads at MrExcel

Which adblocker are you using?

Disable AdBlock

Follow these easy steps to disable AdBlock

1)Click on the icon in the browser’s toolbar.
2)Click on the icon in the browser’s toolbar.
2)Click on the "Pause on this site" option.
Go back

Disable AdBlock Plus

Follow these easy steps to disable AdBlock Plus

1)Click on the icon in the browser’s toolbar.
2)Click on the toggle to disable it for "mrexcel.com".
Go back

Disable uBlock Origin

Follow these easy steps to disable uBlock Origin

1)Click on the icon in the browser’s toolbar.
2)Click on the "Power" button.
3)Click on the "Refresh" button.
Go back

Disable uBlock

Follow these easy steps to disable uBlock

1)Click on the icon in the browser’s toolbar.
2)Click on the "Power" button.
3)Click on the "Refresh" button.
Go back
Top