Excel Mortgage Comparison Calculator

Term of Mortgage (years) 30 Term of Mortgage (years) Number of Payments 360 Number of Payments Interest Rate 7.00% Interest Rate Monthly Payment 864.89 $ Monthly Payment Purchase Price 150,000.00 $ Purchase Price Down Payment 20,000.00 $ Down Payment Amount Financed 130,000.00 $ Amount Financed 30-year 30-year 15-year 15-year Year Principal Interest Interest Principal 1 ### ### $731.23 365.78 $ 2 ### ### $699.63 397.38 $ 3 ### ### $665.73 431.28 $ 4 ### ### $629.39 467.62 $ 5 ### ### $590.42 506.59 $ 6 ### ### $548.63 548.38 $ 7 ### ### $503.82 593.19 $ 8 ### ### $455.77 641.24 $ 9 ### ### $404.25 692.76 $ 10 ### ### $349.01 748.00 $ 11 ### ### $289.77 807.24 $ 12 ### ### $226.25 870.76 $ 13 ### ### $158.13 938.88 $ 14 ### ### $85.09 1,011.92 $ 15 ### ### $6.78 1,090.23 $ 16 ### ### 0 0 17 ### ### 0 0 18 ### ### 0 0 19 ### ### 0 0 20 ### ### 0 0 21 ### ### 0 0 22 ### ### 0 0 15-Year Mortgage 30-Year Mortgage Total Interest Paid Total Interest Paid 181,360.40 $ 30-Year Mortgage $0.00 $100.00 $200.00 $300.00 $400.00 $500.00 $600.00 $700.00 $800.00 $900.00 $1,000.00 1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 Year Interest Principal 15-Year Mortgage $0.00 $200.00 $400.00 $600.00 $800.00 $1,000.00 $1,200.00 1 3 5 7 9 11 13 15 17 19 Year Interest Principal Mortgage Comparison Calculator According to David Bach, author of the Finish Rich books, the best way to buy a house with a 15-year mortgage. The difference in the total amount of interest you pay over the mortgage is staggering. To use this calculator: Fill in your mortgage information in the white boxes below. The are automatically calculated. After you've entered the correct information, the gold boxes will show your total interest payments for both 30-and 15-year mortgages.23 ### ### 0 0 24 ### ### 0 0 25 ### ### 0 0 26 ### ### 0 0 27 ### ### 0 0 28 ### ### 0 0 29 ### ### 0 0 30 ### ### 0 015 180 6.00% 1,097.01 $ 150,000.00 $ 20,000.00 $ 130,000.00 $ 15-Year Mortgage Interest Paid 67,461.80 $ 15-Year Mortgage 11 13 15 17 19 21 23 25 27 29 Year Interest Principal books, the best way to buy a house is to buy it the total amount of interest you pay over the life of the information in the white boxes below. The grey boxes entered the correct information, the gold boxes below 30-and 15-year mortgages.To find out more about why I think this budget is the best gift you could give yourself, please click on the gift box below. Sincerely, Sean Payne Dear Friend, Thanks for downloading this Excel personal finance spreadsheet. It gives me a real thrill to know that I've made something that people find useful and that benefits them. Since you've downloaded and actually opened this spreadsheet, you're probably concerned about your personal finances. I was, and that's why my wife and I started a personal budget. It's been the best experience of our lives --We paid cash for last year's Christmas gifts, we've taken several vacations, and our bank account balance is constantly increasing. It's an Excel-based budgeting system, and it's so simple, yet amazingly powerful. I highly recommend it.you could give spreadsheet. It gives me a useful and that spreadsheet, you're that's why my wife of our lives --We vacations, and our