Used Mortgage Payment Calculator for Microsoft Excel for Mac? Share your experience and help other users.
Developer’s Description
By ReQuantify
Used Mortgage Payment Calculator for Microsoft Excel for Mac? Share your experience and help other users.
Full Specifications
- GENERAL
- Release
- Latest update
- Version
- 2.0
- OPERATING SYSTEMS
- Platform
- Mac
- Operating System
- Mac OS X
- Mac OS X 10.3
- Mac OS X 10.6
- Mac OS X 10.5
- OS X 10.8
- Mac OS X 10.4
- Mac OS X 10.7
- Additional Requirements
- Microsoft Excel 2003 or greater
- POPULARITY
- Total Downloads
- 5,509
- Downloads Last Week
- 0
Report Software
Program available in other languages
Last Updated
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User Reviews
2/5
2 User Votes
Does what it says it does
mostundudelike- 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.
Too limited
macKiwi- 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.