Mortgage Calculator WITH Extra Payments | Google Sheets

To download a full template of this spreadsheet follow this link:
docs.google.com/spreadsheets/...
(Need to make a copy to edit)
This mortgage amortization table is the perfect tool to monitor your current or future property. Use the google sheets features in this video to analyze how interest rates and extra payments can impact what is owed over the life of your loan.

[@Freebleesite]

This vid was fantastic. I've been looking for something like this for a while to help me figure out whether it's better to over pay on mortgage vs leave money in savings vs pay off finance. One small error I spotted though which was driving me crazy for a while, you'll only notice it when you start playing with the excess payments. The total principal should include the excess payment. i.e. Total Principal = Previous period principal + Current Period Principal + Current Period Excess Payment i.e. =J9+E10+G10 Thanks again!

[@rer1967]

Thank you so much for this video. I've been trying to calculate paying off my mortgage in the next two years based on additional principal. This worked perfectly!

[@mandypdx]

Thank you for this!! You thought of everything most tend to leave out when creating an amortization sheet🎉🎉

[@carolinengarachu1055]

Just discovered your videos🎉 they are amazing and you simplify Excel perfectly👌🏾 thank you

[@eluoj22]

Awesome, was trying to find out how mortgage interest vs principal payments are calculated. Building a spreadsheet along with your video really helps. Very well explained and presented.

[@curtismaagrealestateagent512]

GREAT VIDEO. QUICK, SIMPLE, EFFECTIVE

[@trangel101]

Thank you!! Great job! I appreciate that you added the link to google.

[@BBPaws]

This was amazing, thank you! It's so interesting to play around with these numbers.

[@vincelabranche]

Thank you so much for this. Exactly what i was looking for. Thanks a bunch

[@KaseyKent]

Wonderful job!! I appreciate your time and effort

[@EltonMcMillan]

This was very helpful I made it along with your video and all works great! Thanks

[@aradawg]

Awesome video mate! It helped me a bunch.

[@laurenjoseph3780]

Thank you so much for this, helped me a million.

[@daltonanderson9684]

So helpful! Thank you

[@chidinmamoses6084]

This is brilliant!

[@GaryAllGob]

Bloody marvelous 😁

[@aiideeww]

Thank you for this!

[@amcaruso1]

Great video! I was hoping for a spreadsheet to also include Escrow payments.

[@RelaxingWaterLife]

Thank you! Your are excellent!

[@LinhNguyen-sr4tt]

Thank you so much- it is very helpful!

[@brianturgeon]

Glad it was helpful!

[@garlandpoolfredpool]

Thank you for that!

[@matthewthomas2548]

omg, i copied the entire of this a didn't realize i could download it LOOOOOOOOOL

[@rer1967]

😅 I did the same, I guess it's good excel practice.

[@Zulonix]

Nice job! I once wrote a windows program that would display a chart of a given loan. I could alter loan parameters based on mouse movement. I noticed that a loan has a shape and from the shape, I could tell if it was a good loan or terrible loan.

[@navk963]

Someone suggest how to calculate additional columns like escrow, taxes, insurance etc

[@ronnak8427]

Watched a lot of these to build my own and found your explanation to be perfect. My only issue is working on the dates for bi-weekly instead of monthly. I think I got it right, substituted the 12 for 26, but Im still slightly off as my amortization is 23.8yrs?? go figure.

[@jessmorris7202]

Hello, this is great! Can we change this to account for fortnightly mortgage repayments? I tried, but my sheet is now looking weird! Thanks :)

[@zoeeforder3844]

Do you have a version of this that allows for variable interest rates, but the minimum monthly payment remains the from that change. ie original payment is $170 per week at 10.%pa, then 6 months later the rate changes to 11.25% and the new minimum payment is $173 without the minimum payment changing as the principal goes down. Thanks

[@user-yi2ii7vo9u]

how do you change the dates?

[@cr8dinimagodei]

I was totally following along as best I could in IOS but when it got to the drag down of the principal, interest, and ending balance after entering in all the formulas, my the numbers were totally off. Can't figure out what keeps going wrong as I re started twice, in case I missed a step or entered something wrong the first couple times. I would love to see an IOS Numbers version!

[@christinet2089]

I copied yours into my Numbers in Mac and idk why I’m showing a negative balance by pay period 231 when my term should be 360 without extra payments….

[@christinet2089]

Also, shouldn’t the excess payment go into the total principal?

[@1paradox]

this doesn't take biweekly payment into consideration, right?

[@TraceyBlanks]

How could this be modified for bi-weekly payments?

[@FloydRinehart]

Not sure if anyone has already answered your question. In case they haven’t, the easiest thing to do would be to add up all the payments made over the course of the month and make sure that “Payment” + “Excess Payment” equals that total. For instance, using this example, if you wanted to make bi-weekly payments of $2,000 , you would leave the monthly payment as $3,160.34 and mark the excess payment as $839.66 since you would be paying a total of $4000 per month. Interest is only accrued at the start/end of each month, not between bi-weekly payments. Hope that helps!

[@bhavneshparikh8283]

if extra Payment Regular Base & irregular base ? If interest rate change after some times ? if only Interest paid?

[@brianturgeon]

This sheet is assuming a fixed rate

[@bhavneshparikh8283]

@@brianturgeon can you make video as per above my question?

[@bhavneshparikh8283]

i can not downlaod

[@brianturgeon]

To download you have to click the link and then make a copy. Let me know if that still doesn't work

[@Dennis_here]

Bro is gone (⁠⊙⁠_⁠◎⁠)

[@sharonshaw2352]

Very helpful, thanks so much!