Do you wonder what will happen if you put an extra hundred dollars on your mortgage every month? What about if you get your interest rate lowered? What if you take this year’s tax refund and put it all on that principal amount? Well…all those questions can be answered by the simple Excel spreadsheet I’ve provided below.
How It Works
Rows 1, 2 and 4 in column D are highlighted green. Plug in your values in those fields and the rest of the calculations will be done for you. If you want to change a payment amount to include a larger, one-time payment, just drop down to the appropriate cell associated with the month you’ll make that payment and you’re all set! Enjoy!