Need a decent mortgage calc

king100

Looking for a decent motrgage calc.

I can find the ones that tell me what my monthly cost is but none that show me the breakdown ie

100k mortgage

£1000 per month payments of which

£700 in interest and £300 is paying it off.

This is just an example.

Any suggestions?

hermanmunster_3

I tend to use the ones that do repayment OR interest only ... then compare the 2 answers

king100

hermanmunster wrote: »

I tend to use the ones that do repayment OR interest only ... then compare the 2 answers

I really need for it to calc something similiar to quicken 2010, but i need to check my resluts as believe quicken 2010 is slightly wrong. Quicken 2010 tells me how much I will have paid off in 1 year 2 years all the way to the end.

Crinz

you will need to look for an amortisation calculator, I have an internal one that I use but im sure google will find you one somewhere.

shows each monthly payment, how much goes to capital, how much to interest and remaining balance.

does this sound like the right thing? If so i will have a look and see if i can find a good one


http://www.calculator.net/amortization-calculator.html

try that and see what you think, shows in $ so bit annoying but if its the right thing then at least you know what you are looking for

beecher2

https://forums.moneysavingexpert.com/discussion/1157173

Use locoblade's spreadsheet

blueberrypie

king100 wrote: »

Looking for a decent motrgage calc.

I can find the ones that tell me what my monthly cost is but none that show me the breakdown ie

100k mortgage

£1000 per month payments of which

£700 in interest and £300 is paying it off.

An amortisation calculator will give you the information you're looking for, but it will give you different figures for every month because the figures *are* different every month. That's why you can't find something simple which says "x is interest, y is repayment" (which I think is what you're looking for).

As an example - let's say you borrow £200k and the figures you give above for interest/repayment are accurate for the first month. In the second month, you now only owe £199,700 (i.e. the £200k less the £300 you've paid off), so the interest amount is a bit lower, and therefore slightly more than £300 of your £1k payment goes towards the capital repayment. In the third month, the amount you owe is a bit less again - because you've paid off slightly more than £600 - so now you're only paying interest on a bit less than £199,400 - so again, the interest amount is less, and the capital portion of your payment is more.

dimbo61

Have a look at " whatsthecost" website