Overpayment calculator

redtraveller

Hi, in pursuit of being mortgage free I’m looking for a calculator that will display my monthly payments considering the interest rate and fixed period but also allow me to enter a %’age of overpayment as opposed to a fixed amount. All calculators want fixed amounts but we are limited to 10%. Any help appreciated 

leonj

10% of the original loan amount per year?  just use a calculator

tacpot12

You can use the loan amoritization template that comes with Microsoft Excel if you have access to Excel. 

There is an 'Extra payment' column where you can insert a formula so that you can make a payment of n% of the current balance. 

redtraveller

tacpot12 said:

You can use the loan amoritization template that comes with Microsoft Excel if you have access to Excel. 

There is an 'Extra payment' column where you can insert a formula so that you can make a payment of n% of the current balance. 

Thank you. I hadn’t seen that, I looked on the Apple ‘numbers’ app but couldn’t find it but will have a look at that. Much appreciated!