Jackewing98
New Member
- Joined
- Jan 19, 2006
- Messages
- 27
Hello
I have a mortgage comparison spreadsheet which, once the information has been input, compares the total amount payable over the initial fixed rate e.g. two years.
However, in order to calculate what the amortised balance is after the initial period you have to do a separate calculation on a separate worksheet using Excel's loan amortisation template. What I would like to be able to do is get the above to calculate the correct amortised balance without using a separate worksheet to make it simpler. However, as the initial preference rate will be variable it needs to be able to calculate the correct number of months based on what has been input. Does anyone know if there is a way to do this?
Thanks
I have a mortgage comparison spreadsheet which, once the information has been input, compares the total amount payable over the initial fixed rate e.g. two years.
Book1 | ||||
---|---|---|---|---|
B | C | |||
6 | Option One | |||
7 | Loan Amount (inc any fees added to loan) | |||
8 | Other Fees (not added to loan) | |||
9 | Term of Mortgage (in years) | |||
10 | Initial Interest Rate | |||
11 | Term of Initial Interest Rate (in months) | |||
12 | Monthly Mortgage Payment | #NUM! | ||
13 | Amortised Balance at end of Initial Interest Rate Period | |||
14 | ||||
15 | Option Two | |||
16 | Loan Amount (inc any fees added to loan) | |||
17 | Other Fees (not added to loan) | |||
18 | Term of Mortgage (in years) | |||
19 | Initial Interest Rate | |||
20 | Term of Initial Interest Rate (in months) | |||
21 | Monthly Mortgage Payment | #NUM! | ||
22 | Amortised Balance at end of Initial Interest Rate Period | |||
23 | ||||
24 | ||||
25 | Option One Total Cost Over Intial Rate Period | #NUM! | ||
26 | Option Two Total Cost Over Initial Rate period | #NUM! | ||
27 | Difference | #NUM! | ||
Repayment |
However, in order to calculate what the amortised balance is after the initial period you have to do a separate calculation on a separate worksheet using Excel's loan amortisation template. What I would like to be able to do is get the above to calculate the correct amortised balance without using a separate worksheet to make it simpler. However, as the initial preference rate will be variable it needs to be able to calculate the correct number of months based on what has been input. Does anyone know if there is a way to do this?
Thanks