Mortgage Amortisation Software

Hello,

I am trying to find some mortgage amortisation software online but not having much luck. Naturally there is plenty of software however I would like it to have the following parameters.

1. Allow for changes in variable interest rates during the term of the mortgage.

2. Allow for the payment amount to be determined eg I always round up to a nice easy full number- no cents.

3. Allow for changes from monthly to fortnightly repayments.

4. Allow for additional extra payments during the term of the mortgage.

Now the difficult bit.. I never mastered excel and if the software was mac numbers it would even be better. I know it is a tall ask.

The reason I am looking for this is that my financial institution decided that when I asked for my repayments to be made fortnightly that that actually equated to twice monthly in their books !!!

Appreciate the replies

I am not sure what actual calculation you are trying to do, but you may be making it too complicated.

If your mortgage repayments are €1,000 a month, they will be €500 if you pay twice a month. They will be €461 if you pay fortnightly.

At 4.5% interest, I don't think that the annual interest will be much different with any option.

I think you should use the ordinary monthly calculators and then adjust for the increased frequency. You will be approximately right.

Try drcalculator.
Online Java based program. You can run all sorts of future events.
http://www.drcalculator.com/mortgage/ie/

itsallwrong,

Thanks. I tried the Karl Jeacle's calculator but that does not allow for the calculations that I want to do.

Brendan, it could appear that I am making it complicated however the parameters that I am looking for in the piece of software are ones that I have employed for my mortgage over the last three years.

Any other suggestions ?

very easy to build these kind of models in excel yourself