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CNET Editors' review
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.
Publisher's Description
From Vertex42:
Use this simple spreadsheet to calculate and compare the monthly payment for different mortgages. See how soon you could pay off your home by making extra payments. Calculate the equity in your home after a specified number of years. Customize the spreadsheet to suit your needs. The download also includes versions that can be opened in OpenOffice Calc. Works for both US and Canadian mortgages.
This version is the first release on CNET Download.com.
What's new in this version: This version is the first release on CNET Download.com.
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All versions:
4.0 starsout of 5 votes
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Current version:
4.0 starsout of 5 votes
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My rating:
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Results 1-5 of 5
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"Does everything you need to compare mortgages"
Version: Vertex42 Mortgage Payment Calculator 1.0.1
Pros
Easy to use, yet very powerful. It enables you to decide which mortgage will save you the most money in seconds.
Cons
None that I can think of.
Summary
Must have tool for financial well being.
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"awesome a must have program"
Version: Vertex42 Mortgage Payment Calculator 1.0.1
Pros
was able to see which loan I wanted during my refinance. thanks a million
Cons
havent had any yet
Summary
geat it and the other progeam they have you wont be sorry
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"Works great for convential loans"
Version: Vertex42 Mortgage Payment Calculator 1.0.1
Pros
Very easy to use, good help, excellent spreadsheet for conventional loans.
Cons
Will not work on Alt-A, Interest Only, and other un-conventional loans.
Summary
Worth the usage for convential loans. Well built and laid out. Excellent spreadsheet.
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"Great for calculating time to pay off mortgage."
Version: Vertex42 Mortgage Payment Calculator 1.0.1
Pros
I was able to see how fast I could pay off my home by making prepayments.
Cons
Limited to monthly payments.
Summary
I like the way the spreadsheet compares the mortgages side-by-side rather than making you write down a number and then make a change and compare the new number to what you've written down.
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"Don't remember much about this program"
Version: Vertex42 Mortgage Payment Calculator 1.0.1
Pros
Don't remember any pros
Cons
just didn't like the program.
Summary
Really do not remember what the problem was, but I installed this program and checked it out for a few minutes, then uninstalled it. Must not have been impressed with it. If I remember correctly, it was too complicated to do too little.
