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monthly mortgage payment calculator

  1. #1
    Raza
    Guest

    monthly mortgage payment calculator

    I tried to make a mortgage calcultor but my numbers do not jive with the
    realtors web sites. My formula= (100,000*.06)/12 does not include the
    interest so my calculations were too low.

    How would I figure out a monthly payment for a $100,000 loan at 6% over 30
    years? Is there a special formula?

    Thanks.

    -Raza

  2. #2
    Anne Troy
    Guest

    Re: monthly mortgage payment calculator

    Try this: http://www.officearticles.com/downlo...calculator.zip
    I created it for a "real" realtor, so I assume it's accurate.
    ************
    Anne Troy
    www.OfficeArticles.com

    "Raza" <Raza@discussions.microsoft.com> wrote in message
    news:DA2C6192-F31D-41E1-AE88-14F01BD9B7C5@microsoft.com...
    >I tried to make a mortgage calcultor but my numbers do not jive with the
    > realtors web sites. My formula= (100,000*.06)/12 does not include the
    > interest so my calculations were too low.
    >
    > How would I figure out a monthly payment for a $100,000 loan at 6% over 30
    > years? Is there a special formula?
    >
    > Thanks.
    >
    > -Raza




  3. #3
    B. R.Ramachandran
    Guest

    RE: monthly mortgage payment calculator

    Hi,

    Mnthly paymt= 100000*(0.06/12)*((1+0.06/12)^360)/(((1+0.06/12)^360)-1)

    Regards,
    B. R. Ramachandran



    "Raza" wrote:

    > I tried to make a mortgage calcultor but my numbers do not jive with the
    > realtors web sites. My formula= (100,000*.06)/12 does not include the
    > interest so my calculations were too low.
    >
    > How would I figure out a monthly payment for a $100,000 loan at 6% over 30
    > years? Is there a special formula?
    >
    > Thanks.
    >
    > -Raza


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