Excel Mortgage Calculator | Extra Payments

This tutorial shows you step by step how to create a mortgage calculator in Excel, from scratch. We start with a simple mortgage calculator and then layer in prepayments. At the end of the video you will be able to calculate time and money saved with prepayments on your mortgage payment.

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📚 Content that influenced this video:

[sallynicholl]

Absolutely brilliant. Well-paced, well explained and extra info along the way. Thank you so much.

[alicialc]

Very cool and helpful video! For others using this in google sheets, the only formula I had to change was when calculating the months under "extra savings". Just add an arrayformula around the xlookup (everything inside stays exactly the same as in the video)

[AliHussain-noyl]

Absolutely awesome tutorial. I know its easy for yourself and whizzed through it but after pausing and rewinding a few... dozen times, I've finally got it, appreciate your help and knowledge so very much 👍

[benfithian]

Really well made video, I have watched it a couple times. Btw great tip on using Alt + Enter to enter data on the next line in a cell.

[christinet]

Idk why mine is showing a negative balance by period 321. I copied this exactly

[mabdhiu]

i could not understand the last formulae on Months under extra payment...can you send the details

[KyleSorenti]

How much should I prepay? Is there a way to get the money out if I run into money problems?

[SeanNeil-sncd]

Nothing changed in the extra payments savings sections when I entered the additional 1000 extra payments

[vkzntun]

Hey Pete, new to excel and I’m just wondering how you copied the formulas at 3:10 when you just dragged it from line 12 to line 13?

[garyhowe]

Hi Pete, great video thanks but I have one problem. If I change the period in years from 30 to say 25 the extra payment savings does not ajust and just shows #NUM! and #VALUE! errors. Is there a way of making the spreadsheet flexible enough to adjust to a variable term in years.

[ReidKyle]

Pete, How do you drag down the formulas as you did at 3:11?

[alexandrebonfim]

Do you think a can apply same instructions on Google sheets?