A mortgage calculator is a handy thing. With a little knowledge of excel and the right link you can have your own fully customizable mortgage calculator on your own desktop ... whenever and wherever you want it.

Stop waiting for an answer from refinancing mortgage brokers or real estate agents. Figure out your own refinancing mortgage, calculate your own mortgage payment.

## Step 1

GET A FREE AMORTIZATION TABLE ONLINE

## Step 2

CREATE EXTRA CELLS FOR ESCROW CONTRIBUTIONS

Most people forget escrow expenses. They include property taxes, home insurance, and private mortgage insurance (PMI). Create one cell for each item. When you research a house you can find each of these figures relatively easily if you know the site to check. You can also include a cell for HOA fees if applicable.

## Step 3

ADD A CALCULATION FOR MONTHLY TAXES.

This cell will be the first in a column of cells just underneath your amortization table's calculated mortgage payment. The formula in the cell can be easily created with a small amount of excel knowledge. The cell should start with an equal sign (=). While in the cell edit with the cursor just past the = click on the cell for the yearly tax amount. The cell's number should appear. Type the / symbol and then the number 12.

It should look like this: =E7/12 where E7=Yearly Taxes

## Step 4

CREATE A CELL TO TOTAL ALL MONTHLY PAYMENTS FOR YOUR MORTGAGE CALCULATOR.

Make the formula this way: Start with an equals sign (=). Type in the word SUM( leaving the parentheses open. Click and drag the entire column from the mortgage payment down through the last monthly expense. Release the click, and type in the final parenthesis. It should look like this: SUM(E1:E10) or something like it.
PLAY WITH YOUR MORTGAGE CALCULATOR TO SEE WHAT IT CAN DO.

You can change the number of months for 30 year mortgages (360) to 15 year mortgage (180) or any other amount of months. You should be able to change the percentage of the mortgage rate, the month the payments will begin, and any other particular of your mortgage calculation.

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