Extra Amount You Plan to Add ($): 200.For different Interest Compounding Frequency & Regular Payment Frequency, Interest Compounding Frequency must be equal to or higher than the frequency of the Regular Payment. This is the normal case: Regular Payment Frequency will be same as the Interest Compounding Frequency.

Interest Compounding Frequency: Monthly.Regular Payment Frequency: It means you pay your regular payments every month.It means you have already paid the regular payments for the period 30-28.50 = 1.5 years Suppose you have loan details like the following: Let me show the use of this template with an example. You can choose different payment frequency for your extra recurring paymentsĬonclusion Using Mortgage/Loan calculator with extra payments & Lump Sum in Excel.In some countries, for example, Canada, payment frequency and interest compounding frequency can be different. You can choose your Interest Compounding Frequency.Time saved (if you made recurring extra payments or irregular/lump sum extra payments).Estimated interest savings (if you made recurring extra payments or irregular/lump sum extra payments).The total amount paid over the lifetime of the loan.The template will show you the following outputs: Depositing irregular / lump-sum payments when you are able.Calculating your regular payments (PMT).You can use this calculator in three ways: I can assure you that this is the most versatile Excel calculator for the mortgage loan. Let me explain the terminology and uses of this template. I have developed an Excel template that will be the best tool in your journey of becoming debt-free. From Warren Buffet to Ray Dalio, all big investors emphasize on living beyond your means and saving the rest. From big country to small business all are sunk in debt. Becoming a debt-free person is the best blessing in this age of debt.

Extra payment mortgage calculator