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Create a Mortgage Calculator in Excel

Summer Scaggs

By the end of this project, you will learn how to create a mortgage payment calculator in an Excel Spreadsheet by using a free version of Microsoft Office Excel.

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By the end of this project, you will learn how to create a mortgage payment calculator in an Excel Spreadsheet by using a free version of Microsoft Office Excel.

Excel is a spreadsheet that is similar in layout as accounting spreadsheets. It consists of individual cells that can be used to build functions, formulas, tables, and graphs that easily organize and analyze large amounts of information and data.

While a mortgage calculator helps you to see how extra payments effect your principal amount. We will learn to create a budget both automatically and manually, step by step. By utilizing Microsoft Excel, you will reduce the burden of working with your lender to create an early payoff plan. It will allow you to create your own payment plan for your timeline.

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What's inside

Syllabus

Project Overview
By the end of this project, you will learn how to create a mortgage payment calculator in an Excel Spreadsheet by using a free version of Microsoft Office Excel.

Good to know

Know what's good
, what to watch for
, and possible dealbreakers
Provides a step-by-step guide to creating a mortgage payment calculator in Microsoft Excel
Uses a hands-on approach to teach practical skills in financial planning

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Activities

Coming soon We're preparing activities for Create a Mortgage Calculator in Excel. These are activities you can do either before, during, or after a course.

Career center

Learners who complete Create a Mortgage Calculator in Excel will develop knowledge and skills that may be useful to these careers:
Financial Analyst
Financial Analysts study an organization's financial performance and advise on decisions relating to investments, budgeting, and other financial matters. This course introduces Microsoft Excel, a powerful spreadsheet software widely used by Financial Analysts. By developing proficiency in Excel, learners gain a foundational skill for analyzing and interpreting large amounts of financial data, which will greatly benefit them in their roles as Financial Analysts.
Budget Analyst
Budget Analysts plan, develop, and manage budgets for organizations, ensuring that financial resources are allocated effectively. By learning Excel in this course, Budget Analysts enhance their ability to create and maintain detailed budgets, track expenses, and analyze financial performance. This skillset is essential for success in budget management.
Loan Officer
Loan Officers assist individuals and businesses in obtaining loans, advising them on loan options and managing the loan application process. Excel proficiency, highlighted in this course, is crucial for Loan Officers to calculate loan terms, interest rates, and monthly payments accurately. This allows them to provide informed advice and facilitate efficient loan processing for their clients.
Mortgage Broker
Mortgage Brokers help clients secure mortgages from lenders. A solid understanding of Excel, as gained in this course, is essential for Mortgage Brokers to evaluate loan applications, calculate monthly payments, and compare different loan products. It enables them to offer tailored mortgage solutions and guide clients throughout the mortgage financing process.
Financial Planner
Financial Planners provide individuals and families with advice on financial planning, including budgeting, investments, and retirement planning. By learning Excel in this course, Financial Planners enhance their ability to create financial models, analyze investment performance, and develop personalized financial plans for their clients.
Accountant
Accountants prepare and maintain financial records, ensuring that financial information is accurate and compliant with regulations. Proficiency in Excel, emphasized in this course, is a valuable skill for Accountants as it enables them to analyze financial data, create financial reports, and perform audits efficiently.
Data Analyst
Data Analysts collect, analyze, and interpret data to identify patterns and trends, providing valuable insights to businesses. Excel plays a significant role in data analysis, and this course equips Data Analysts with the necessary skills to manipulate and visualize data, perform statistical analysis, and communicate their findings effectively.
Business Analyst
Business Analysts work with stakeholders to understand business needs and develop solutions to improve efficiency and effectiveness. Excel expertise, as covered in this course, allows Business Analysts to conduct data analysis, create financial projections, and build business models, enabling them to make informed recommendations and drive business improvements.
Financial Risk Manager
Financial Risk Managers identify, assess, and mitigate financial risks faced by organizations. This course introduces Excel, a vital tool for analyzing financial data and developing risk models. By gaining proficiency in Excel, Financial Risk Managers enhance their ability to quantify and manage financial risks effectively.
Operations Research Analyst
Operations Research Analysts use analytical techniques, including mathematical modeling and optimization, to solve complex business problems. Excel proficiency, highlighted in this course, is highly beneficial for Operations Research Analysts as it enables them to build and analyze mathematical models, simulate scenarios, and optimize business processes.
Statistician
Statisticians collect, analyze, and interpret data to draw meaningful conclusions. This course provides a foundation in Excel, a powerful tool for statistical analysis. By mastering Excel, Statisticians enhance their ability to perform complex statistical calculations, create data visualizations, and develop predictive models.
Auditor
Auditors examine and evaluate financial records to ensure accuracy and compliance with regulations. Excel proficiency, gained in this course, is vital for Auditors as it allows them to analyze financial transactions, identify irregularities, and prepare audit reports.
Tax Accountant
Tax Accountants prepare and file tax returns, ensuring compliance with tax laws and regulations. Excel expertise, covered in this course, is essential for Tax Accountants as it enables them to calculate taxes accurately, prepare financial statements, and analyze tax implications for individuals and businesses.
Insurance Actuary
Insurance Actuaries assess and manage financial risks associated with insurance policies. Proficiency in Excel, gained in this course, is highly beneficial for Insurance Actuaries as it enables them to analyze insurance data, develop pricing models, and evaluate the financial impact of insurance products.
Financial Controller
Financial Controllers oversee the financial operations of organizations, ensuring financial stability and compliance. Excel mastery, highlighted in this course, is crucial for Financial Controllers as it empowers them to monitor financial performance, prepare financial reports, and develop financial strategies to achieve organizational goals.

Reading list

We've selected six books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Create a Mortgage Calculator in Excel.
This handbook offers practical advice and guidance on mortgage planning, including budgeting, selecting the right loan, and managing payments, complementing the course's focus on creating a mortgage payment calculator.
As the course utilizes Microsoft Excel, this book provides a solid foundation in Excel's functions and features, making it a valuable resource for navigating the software effectively.
Offers insights into financial concepts and analysis, providing a broader understanding of financial decision-making, which can be beneficial in managing mortgage finances.
This comprehensive reference book provides in-depth coverage of Excel's functions and applications, making it a valuable resource for advanced users who want to explore more complex mortgage calculations.
Similar to 'Mortgage Math,' this book provides a practical guide to mortgages, offering insights into different types, rates, and strategies, complementing the course's emphasis on mortgage calculations.
While not directly related to mortgage calculations, this book provides a comprehensive guide to Excel VBA, which can be useful for automating tasks in the mortgage calculator and enhancing its functionality.

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