If you have a comment please let me know. Regional settings.: English, French, German I have a database that can simulate a loan like a excel loan calculators. ![]() Then you will have a formula for C1 that should work. Loan*(1+VArate)*(1+rate)^nper+(totalpmt-loan*taxrate-loan*insrate)*(1-(1+rate)^nper)/rate)=0įrom there, it's a "simple" matter of solving for loan. Solve for pmt pmt=totalpmt-loan*taxrate-loan*insrate and substitute into the pv formula Totalpmt=pmt+loan*taxrate+loan*insrate (where taxrate and insrate are monthly rates). You then add the contributions for taxes (loan*monthlytaxrate) and insurance (loan*monthlyinsrate) to get the total payment in B17. The spreadsheet solves this equation for pmt in B8 to get the loan payment part. One issue - the pv in the PMT() portion of this is not the loan amount, but rather, the VA amount VA=loan*(1+VArate), so substitute that into the main pv formula You seem to want pv and pmt to both be positive, so I switch the sign on the pmt term: Type is 0, so that part of the pmt term drops out. I start with the basic equation for present value (see the PV() function help file: You used the PMT() function in B8, so I'm assuming that the entire thing fits into a PV() type of model. Most of the work is algebra, and it isn't trivial, but it is straightforward if you keep track of parentheses and signs. I got a different, simpler equation that seemed to solve just fine (within rounding errors, anyway). Please help me simplify and solve this absolute monster. The cause is the large exponent but I cannot figure out how to circumvent that. I've determined an equation and used online resources to solve for the desired value, but Excel returns #NUM and #DIV/0 errors depending on the structure of the formula. The payment would include homeowner's insurance and property tax, but not mortgage insurance as this is for a VA loan. For that option, check out our new Interest-Only Mortgage Calculator.I'm trying to build a mortgage calculator to determine how much of a loan someone can afford based on their payments. It also doesn't work for interest-only mortgages. ![]() Note: This mortgage calculator does NOT work for so-called "simple interest mortgages" - you'll need to try our Simple Interest Mortgage Calculator instead. Remember that if paying monthly, you can enter a fraction of a year by entering a value like =10+5/12 (for 10 years and 5 months). The second approach is to enter the current mortgage balance and adjust the term length until the PI payment matches what you are currently paying. So, if you've already been making payments for a couple of years, you can choose to have scheduled extra payments start on payment number 25. That is the simplest solution, so we've added a new feature to the Extra Payments section (at the suggestion of one of our users) that lets you specify what payment you want the extra payments to start at. The first is to enter the original loan amount and date and then make adjustments to the payment history within the Payment Schedule as needed. There are a couple of ways to analyze your existing home mortgage.
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