How to Calculate Monthly Mortgage Payment in Excel with formulas
The below steps will help you to calculate the monthly payment for your mortgage. Just follow the below steps to calculate the Monthly payment for your mortgage from your EXCEL sheet. This version is compatible for 2007,2003 and 2010 version for MS EXCEL Sheet.
Steps to Calculate Mortgage Payment in Excel
1. Open an empty excel sheet to create the mortgage payment calculator.
2. Construct the fields like the image below.
3. Add the below formula in Cell number B8
Monthly Mortgage Payment formula in EXCEL
4. Now save the Excel file and Enter the values for Loan amount, Interest Rate in Loan term in respective field.
You can download the excel sheet for calculating Monthly Mortgage payment with this excel sheet Mortgage Payment Calculator Download Excel
Also you can calculate the Monthly mortgage payment with amortization schedule using Mortgage Payment Calculator