## Please calculate the amount of interest on this mortgage?

If I took out a standard capital repayment mortgage of £136,000 at a fixed rate of 5% over a term of 15 years, how much interest would I end up paying in total over that time.

(if someone knows of an internet interest calculator that would be useful too, should I need to change my numbers)

many thanks
stumbler

Mortgage amortization calculator.
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## is there a way to find out my mortgage pay off date? what is the formula?

Can I do it on a regular calculator. I have a financial calucultor around somewhere. Every interest rate calculator I go to on the internet gives me a different answer.
I owe approx \$19,372 and pay \$333.34/mo @ %5.99

Sure, you’ll be paid off in 69 more months with the last payment being a bit smaller than the 333.34 you’ve paid. I’m not sure of the formula to do this long hand but you can punch it in any financial calculator. Answers can differ slightly depending on how many decimal places you have the calculator set to accept and show. Here’s how I did it though…
PV(present value)=19372
I/Y(interest per year)=5.99
PMT(payment)= -333.34
CPT(compute) N(number of months)= 68.81

Main thing is to make sure you put in payment as a negative number, not a positive one.

## How do you make a what if formula with date ranges?

How can you create a formula in excel where you have a date range that will associate with certain numbers to be used for a formula?

What it is for to make the question more clear, I am looking to create a interest rate differential calculator where I just type in the date that people had received there mortgage and the associated posted rate will than pre-fill the following line with the posted rate to be used in a formula.

I think you really need the lookup function, and not if statements.

=LOOKUP(A1,B1:B5,C1:C5)

……..A…………….B………..C
1…3/8/2011…..1/2011……1
2………………….2/2011……2
3………………….3/2011……3 <—— Returns this
4………………….4/2011……4
5………………….5/2011……5

The above would return 3 because the closest match to 3/8/2011 is 3/2011.
Just put the start date of the range in column B

## Mortgage Guesstimate…?

Approx. how much would a person pay for a \$132,000 house. Add 110 for taxes and 50 for insurance. I use the mortgage calculator but they are always different. Also, giving a rate of 6.23%

At 30 years this would be about \$820 for principal and interest.

Taxes and intererst would bring it to about \$980. This assumes you put 20% down so you don’t have PMI. Don’t forget home owners dues.

## I need to purchase a home, are the mortgadge caculators accurate?

I want to purchase a home for 359,000, The mortgage calculator says my payment will be around 1780 a month on a 50 year loan with 0 down and 7 percent interest rate, is this accurate. Or is this even possible. I’m a first time home buyer and am not too familiar with all of this. My credit isnt the best but its decent. I make around 33,000 a year. Please let me know if this can happen. i would like some advise before i get to serious and get a real estate agent and come to find out i cant afford anything.