Colli Real Estate

what formula do I need to use in Excel to calculate a Mortgage payment for a 30 year fixed loan?

This is your answer. This is the formula that the real estate websites do not want you to know. You must start with pasting the values after the description (i.e. Price) in cell C2.

=C2Price $395,000.00
=C2*C10Down Payment $98,750.00
=C2-C3Principal $296,250.00
=C5Interest Rate5.375
=C6Length30
=C5/(12*100) Monthly interest in decimal0.004479167
=C6*12Number of months that loan360
=C4*(C7/(1-(1+C7)^-C8))Monthly Payment $1,658.91
= C10Down Payment %25.000%

I am a real estate investor and I can plug numbers into my excel file on the fly and it will tell me if I will make money or not given certain assumptions.

Let me know if you have any follow up questions.

Good Luck!!!

PMT function – Excel 2007

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