It is for mortgages in the United States. This Excel mortgage loan calculator is an easy mortgage calculator to help you estimate your monthly mortgage payments and see if the mortgage fits within your budget and is right for your personal finances.Mortgage refinance calculator can help you compare various mortgage rates and loan amounts to see what your mortgage payment will be compared to your current mortgage.The mortgage affordability calculator helps in estimating loan amount relative to DTI ratios and LTV ratios.If one of your financial goals is paying off your mortgage early, the mortgage calculator with extra principal payments allows you to enter a different amount for extra principal payments each month so that you can see impact on interest savings and shortened time to pay off debt.The mortgage amortization calculator displays a full amortization schedule so you can see how your payments are applied to principal and interest.Mortgage calculator allows you to compare different current mortgage rates, loan amounts, length of loan and extra payments to see with one provides the lowest overall interest costs and can be paid off more quickly.Banks and lenders may require different front end ratios and back end ratios depending of the borrowers overall financial situation. The back end debt to income ratio factors in more debt such as the your monthly minimum credit card payments, monthly car payments, etc. The front end debt to income ratio is the ratio of your housing related payments (PITI, including PMI and HOA fees if any) divided by monthly gross income. to determine if you qualify for a mortgage loan. including both the front end ratio and back end ratio which are factors that lenders consider in addition to your credit score, income, net worth, assets, loan to value, down payment, etc. The Excel mortgage calculator spreadsheet calculates the debt to income ratios.The mortgage payment calculator calculate your monthly mortgage payment based off the information you enter related to the mortgage, including the mortgage loan amount, the current mortgage rates, and the length of the mortgage such as a 30 year mortgage or a 15 year mortgage, and extra principal payments if any.The loan to value ratio is generally calculated by dividing the mortgage loan amount by the lesser of the purchase price or the appraised value of the property in most cases but there are some exceptions. The Excel mortgage calculator calculates the loan to value ratio based on the information you enter for the mortgage loan amount and purchase price or appraisal value.The mortgage calculator allows your to calculate your total housing expenses which includes your mortgage payment which is made up of principal and interest, property taxes, homeowners insurance, private mortgage insurance (PMI generally applies if the loan to value ratio is greater than 80%), and HOA fees if your homeowners association charges the dues.Excel mortgage payment calculator and mortgage amortization schedule spreadsheet. The benefit of this loan is not being required to put any money down and avoiding PMI.Simple Mortgage Calculator with Taxes Insurance PMI HOA and Extra Payments. VA loan - 30-year fixed-rate for qualifying veterans and active military.Also, a great option if you want to put down a smaller down payment. FHA 30-year fixed - Best for homebuyers with lower credit scores.5-year ARM - Similar to the 7-year ARM, but the interest rate can change after 5 years.Generally, this is best used if you know you'll be in the home for less than 7 years because the interest rate could go up after those 7 years. 7-year ARM - ARM stands for an adjustable-rate mortgage which means your interest rate can fluctuate after 7 years.15-year fixed-rate mortgage- Similar to the 30-year fixed-rate mortgage, this option pays off your mortgage in 15 years, saving you money on interest.30-year fixed-rate mortgage - The most common option, typically has a lower monthly payment and your payment doesn't change.Each situation is different, but here are some guiding principles for each type of mortgage:
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