Author Topic: Looking for an amortization calculator with lots of variable inputs  (Read 1568 times)

mousebandit

  • Bristles
  • ***
  • Posts: 316
Hey all!  We're doing good out here on our financial goals, and making a lot of progress!

We are looking to fine-tune the payoff of a property we're selling on contract to another buyer. 

I need an amortization calculator that rolls out a full monthly amort schedule, and then lets me put in variable additional principal payments for different months, and then re-calculates from that point forward.  The online calcs I'm finding only let me put in a standard monthly additional payment, and/or a one time or regularly-scheduled balloon payment. 

I need to do scenarios with lots of variables, and see what will work best for both us and the new buyer.  For example, we are in year 7 of the 30-yr mortgage, we've paid some extra thus far, and I need to run scenarios for what if we bump the monthly payment by $1000 for March, April, and May of next year, then a $10k balloon in July, then bump monthly payment by $1500 each month thereafter to payoff - what payoff date does that give me.  (for example) 

Thank you for any online calc suggestions that can do this!

MouseBandit

doneby35

  • Bristles
  • ***
  • Posts: 334
Re: Looking for an amortization calculator with lots of variable inputs
« Reply #1 on: December 01, 2016, 05:33:21 PM »
http://mortgage-x.com/calculators/extra_payment_calculator.asp

I use this one, I think it has everything you might need.

MDM

  • Senior Mustachian
  • ********
  • Posts: 10740
Re: Looking for an amortization calculator with lots of variable inputs
« Reply #2 on: December 01, 2016, 06:09:25 PM »
From http://forum.mrmoneymustache.com/mustachianism-around-the-web/amortization-schedule-calculator/msg1219175/#msg1219175:

1. Open a new sheet in Excel
2. Press the "sheet1" tab on the bottom with a right-click
3. "Insert" --> "Spreadsheet solutions" --> "Loan Amortization"

mousebandit

  • Bristles
  • ***
  • Posts: 316
Re: Looking for an amortization calculator with lots of variable inputs
« Reply #3 on: December 01, 2016, 06:18:01 PM »
Doneby35 - THANK YOU!  That one is getting it done!  Love it!  ON track to have that property paid off by Dec 2018! 

MDM - I will play with that!  I love excel, haha!  Thank you!

MouseBandit