If you are planning to purchase or refinance a home, the Vertex42 Mortgage Payment Calculator is a competent tool for you to see how much that home will cost over time.
The Vertex42 Mortgage Payment Calculator takes the work out of setting up one's own Excel spreadsheet, as it is, essentially, an Excel spreadsheet (it works with your Excel program). With the Vertex42 Mortgage Payment Calculator, you can compare up to five possible mortgages. And just like in Excel, if you have even more variables to consider, you may insert more columns. Easy to manipulate and manage, this simple spreadsheet offers information in a clear, logical way. But home buyer beware: the calculator does not take into account closing costs, property taxes, or insurance, and it assumes a $10,000 down payment on its loans (which is easily remedied with a keystroke or two).
The calculator's logically arranged information makes the comparison of several loan scenarios a breeze. Speaking of easy, you can also tweak variables so that you can consider the impact that adding years or payments (including paying bimonthly) can make in the life of a loan. Although there are lots of competing financial calculators available, the free Vertex42 Mortgage Payment Calculator does its job as promised and without any fuss.