Any mortgage calculator which compares different interest rates?

I would like a fairly simple mortgage calculator which shows the impact of an increase in mortgage rates.





Has anyone found a simple one like this?

Ideally without asking for irrelevant information about whether you are a first time buyer or how much your house is worth. And without boxes such as capital repayments and monthly charges.

The best I can find is



Any Excel experts out there who could knock one up?

Brendan

How is this? https://www.moneysavingexpert.com/mortgages/mortgage-rate-calculator/
With a comparison as well: https://www.moneysavingexpert.com/mortgages/compare-mortgage-rates/

But it's still in a website form format, not tabular, so maybe not quite what you're looking for,

"Karl's mortgage calculator" is the most straightforward I've found. Drcalculator.com

In Excel, the "PMT" function will work.

As above, PMT and IPMT are the functions you need. I can't upload a spreadsheet as I'm on a work pc but I can give you the formula.

In C3 above enter =PMT(B3/12,$B$2*12,-$B$1)

B3 is the interest rate. Divide by 12 as we're looking at the monthly amount.
B2 is the term in years. Just enter 20 in here and remove 'years'. Multiply by 12 for the number of months.
B1 is the amount.

B1 and B2 are absolute references as you don't change the value. That's what the $ represents.

In D3 enter =IPMT(B3/12,1,$B$2,-$B$1)

Same as above but the 1 represents 1 period, i.e. the first month. The formula can be used to work out the changing principal/interest payments throughout the life of the loan.

With the absolute references you can just drag the formulas down to calculate as many interest rates as you like.

Thanks Red

I am looking for a simple one. I had a look at Karl's and it does not appear to do what I want it to do.

Brendan

Brendan Burgess said:

Has anyone found a simple one like this?

Click to expand...

I have edited the original post.

I don't mean "simple" as easy to do if you are an Excel expert. It's simple as in for an ordinary user.

Brendan

Brendan Burgess said:

I would like a fairly simple mortgage calculator which shows the impact of an increase in mortgage rates.





Has anyone found a simple one like this?

Click to expand...

I am not looking for a way to just calculate mortgage payments. There are hundreds which do that.
I want to compare them at different rates.

Brendan

Fore

That is brilliant.

Exactly what I wanted.