Mortgage Payment Calculator for Microsoft Excel for Mac

Mortgage Payment Calculator for Microsoft Excel for Mac


Average User Rating:
2.0
out of 2 votes
See all user reviews

Quick Specs

Version:
2.0
File Size:
83.58KB
Date Added:
March 17, 2013
Price:
Free
Operating Systems:
Mac OS X 10.3/10.4/10.4 Intel/10.4 PPC/10.5/10.5 Intel/10.5 PPC/10.6/10.7/10.8
Total Downloads:
4,079
Downloads Last Week:
13
Product ranking:
Additional Requirements:
Microsoft Excel 2003 or greater

Publisher's Description

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All User Reviews

    Results 1-2 of 2

  • 3 stars

    "Does what it says it does"

    October 22, 2010   |   By mostundudelike

    Version: Mortgage Payment Calculator for Microsoft Excel 1.0

    Pros

    Does exactly what it says (for most users.) Attractive interface.

    Cons

    Somewhat limited, Requires excel.

    Summary

    If you want to look at financing options, this is a good free tool.

    Reply to this review Read reply (1)

    Was this review helpful? (1) (0)

  • 1 stars

    "Too limited"

    October 15, 2010   |   By macKiwi

    Version: Mortgage Payment Calculator for Microsoft Excel 1.0

    Pros

    It will help to calculate your mortgage repayments if you pay monthly

    Cons

    It is no good if you pay your mortgage on any other basis such as fortnightly or even weekly. Also it needs facilities to accommodate the following:
    interest rate adjustments
    term adjustments
    advance or lump sum payments during the mortgage.

    Summary

    The program itself needs to have an option for monthly or fortnightly payments. I guess it has been written in the US and there it may be common for monthly payments but elsewhere, banks do offer alternative payment schedules such as fortnightly, resulting in 26 payments a year instead of just 12 (which makes quite a difference on the calculations).

    As for variations caused by rate changes, term changes or voluntary repayments, the easiest solution might be to break the schedule at the last payment and begin the calculations all over again. Therefore a set of instructions how to do this within this spreadsheet may be useful.

    After doing this, the program would possibly have a more universal application.

    Reply to this review Read reply (1)

    Was this review helpful? (2) (0)

  • Results 1-2 of 2

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