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A Good Mortgage Calculator
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One of the problems I have with most mortgage calculators available on the internet is that they're all far too simple.

The problem with simple is that a mortgage for most people is an extremely large loan therefore we should seek the most detailed financial information available.

So check out this Excel based mortgage calculator from http://www.vertex42.com. It was developed for the American market so I've changed a few details, including replacing £ for $ signs.

Some other points to note -

  • This Calculator is for repayment style mortgages and won't be any use for interest only deals
  • Click on the small red triangles at the top right edge of each box in the Excel file for more information
  • Play around with various figures and interest rates, see how the mortgage stacks up if rates were to climb say 3% or 4% - would you still be able to afford the repayments?
  • Scroll down for detailed information of how every monthly payment affects the loan
  • More mortgage spreadsheets are available on this link
Use this excellent mortgage calculator in conjunction with our FREE guide - how to get the right mortgage at the best price - and you won't go far wrong.
FREE Report: How to get the right mortgage at the best price
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How to make sure you don't overpay on charges
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