This formula takes into account the monthly compounding of interest that goes into each payment. Calculating Mortgage Payments with an Equation 1. Choose mortgage calculations for any number of years months amount and interest rate.
How to calculate a mortgage payment Under Home price enter the price if youre buying or the current value if youre refinancing.
Determine the amount of house you can afford Estimate your monthly mortgage payments by entering details about the home loan home price down payment interest rate and the length of the loan. Calculate monthly mortgage payments in Excel. -PMT Interest RatePayments per YearTotal Number of PaymentsLoan Amount0. Then in the cell next to Payment per month B5 for instance enter this formula PMT B2B4B5B10 press Enter key the monthly mortgage payments has been displayed.