Capital/interest amounts in monthly mortgage payments

jimbo83

Hi All

I have a quick query which I was hoping someone could give me a steer on.

I have recently completed on a house purchase on a 2 year fixed. I would like to try and get a view on how much capital I will have chipped off in the 2 year period by the time i come to remortgage.

I am aware that that during the early stage of any mortgage the interest to capital ratio within the monthly payments will be high and will decrease over time towards redemption.

Is there a calculator available which would allow me to enter the mortgage amount and the mortgage payments which would drop out a view on the capital and interest amounts?

Thanks all.

J

argomatt

I used a spreadsheet template which was included in Excel, called "Mortgage Amortization Table" which calculated the principal and interest components of each monthly payment.
If you haven't got access to this spreadsheet template if you search google for a mortgage amortization table then you should find plenty of different ones to try.

SillySod

I use a German language one, it is here: baufi24 dot de/baufinanzierung-rechner/ (sorry, not old enough to post proper links).

Fill it in as follows (Important! Use a comma as a decimal point):

Darlehensbetrag = your current mortgage balance
Wert /kaufpreis objekt = property value, stick anything here
Sollzins = interest rate, but put this in at the end as it will get changed according to other inputs.

Don't worry about the other options.

In the next section, choose "Monatsrate" and enter your total monthly payment.

Now put in the "Sollzins" and click on "Berechnen". You can then select the "tilgungsplan" tab and view how the first two years of monthly payments are made up in terms of interest ("Zinsen") and capital repayment ("Tilgung").

I don't know of an English calculator which gives this level of detail, if anyone else does then please post!

argomatt

http://www.calculator.net/mortgage-calculator-uk.html

have a go with this one

jimmybrid

jimbo83 wrote: »

Hi All

I have a quick query which I was hoping someone could give me a steer on.

I have recently completed on a house purchase on a 2 year fixed. I would like to try and get a view on how much capital I will have chipped off in the 2 year period by the time i come to remortgage.

I am aware that that during the early stage of any mortgage the interest to capital ratio within the monthly payments will be high and will decrease over time towards redemption.

Is there a calculator available which would allow me to enter the mortgage amount and the mortgage payments which would drop out a view on the capital and interest amounts?

Thanks all.

J

Jimbo83 - I have a Mortgage Calculator excel sheet of my own creation that I will happily send you if you want to try it out. You enter your mortgage amount, repayment term (currently limited to 5 - 30yrs, in 5 yr increments), details of any introductory rate and term, then hit the calculate button to return the approximate monthly repayment (the sheet uses monthly rather than daily interest, but the margin of error is quite small), total repayment amount, and total interest payments.
You can also select any individual month from the mortgage term to see the breakdown of interest vs capital for that month.
If you want to give it a try just PM me your email address.