Extra Payments on Monthly Payment Fixed-Rate Mortgages
Allows you to track the impact of extra payments on your loan balance and date of payoff.
Extra Payments on Bimonthly Payment Fixed-Rate Mortgages
The same program for borrowers on a bimonthly payment basis.
Extra Payments on ARMs
The same program for borrowers with ARMs. The borrower must enter new interest rates after the initial rate period, as well as any extra payments. This spreadsheet only works for ARMs on which the payment is recalculated to be fully amortizing whenever the rate changes. It will not work for negative amortization ARMs.
Biweeklies
Allows you to compare total interest payments and payoff dates for conventional biweeklies, biweeklies on a daily accrual basis, and standard monthly payment loans on which the payment has been increased by 1/12.
Future Net Worth
Allows you to calculate future net worth under different assumptions regarding how large a down payment you make, the terms of any mortgage, how much you earn on investments, and other factors.
Blended APR
Allows you to calculate an APR for a combination of first and second mortgage.
Invest in Less Mortgage
Allows you to calculate the yield on an investment in a larger down payment.
Yield to Lender on Wrap-Around Mortgages
Allows you to calculate the yield to the lender over any period on a wrap-around mortgage. Note that the yield to the lender on a wrap-around is also the interest cost to the borrower on a cash-out refinance.
Loan Repayment Versus Investment
Allows you to compare your net worth in two situations: one where you liquidate assets to repay your mortgage, the other where you retain the assets and the mortgage. The spreadsheet lets you change the interest rate over time.
Value of Assumptions
Allows you to calculate the value of being able to assume an old mortgage that carries a rate lower than that available in the current market.
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