These formattings are also done automatically with conditional formatting. And, the dates that are gone, that is, the payments that are done already are marked with green font color. For better visualization, a thick bottom border is applied after each year has passed.The extra payment will start from the period where this remaining year’s value starts in the amortization table. Insert your Remaining Years value carefully as according to this value, your Extra Payment (Recurring) will be adjusted.Insert all your necessary inputs carefully and choose the available dropdowns properly.Read More: Mortgage Repayment Calculator with Offset Account and Extra Payments in Excelīi-Weekly Mortgage Calculator with Extra Payments Tips Template 1: Biweekly Mortgage Calculator with Extra payments So, this payment is a bit more than the equivalent bi-weekly payment. Then, the monthly due payment is divided by two to get the accelerated bi-weekly payment. So, to calculate accelerated biweekly payment, monthly payment is calculated with monthly interest rate and all necessary calculations based on monthly payment frequency. But in this case, it is assumed that every month consists of four weeks. What Is Accelerated Bi-weekly Payment?Īccelerated Biweekly payment is a lot like bi-weekly payment as it is also done every two weeks. Both of these extra payments will help him to pay off his loan earlier than the initial deadline which will save him some extra interest.
In irregular payments, he might pay any amount from his remaining balance at any period. In this regard, he might make extra regular payments or irregular payments.įor regular payments, he will pay a certain amount after a certain period along with his primarily fixed due payment. Then he might try for an early settlement of his loan, that is he might finish the loan within 25 years by making some extra payments. Now, the borrower somehow may earn more than before when repaying his loan. Now, if someone takes a loan for 30 years in bi-weekly payment frequency, he has to pay his due payment for (26*30)=780 times to repay the loan where both principal and accrued interest will be deducted accordingly every time. So, the lender will pay 26 times in a year when repaying his loan. That is, the borrower will have to pay his due payment every two weeks. Related Excel Templates What Is Bi-Weekly Mortgage Calculator with Extra Payments?īiweekly Mortgage Calculator is an Amortization Schedule where the payment is done bi-weekly. This template will be of essential use for Financial planners, Investors, Bankers, Business Owners, and all kinds of Lenders and Borrowers who are looking forward to taking or giving a loan. Besides, the borrower can make some extra payments sometimes for an early settlement and the borrower can follow an Accelerated Bi-weekly payment approach to repay the loan a little bit quicker.ĭownload our free Excel template where you will get a Bi-weekly Mortgage Calculator with extra payments and an Accelerated Bi-weekly Mortgage calculator. When the payment frequency is Bi-weekly, that is, the borrower pays his due payment every two weeks, this mortgage calculator is called Biweekly Mortgage Calculator. A mortgage calculator can be of several types based on payment frequencies, such as Weekly, Bi-weekly, Monthly, Quarterly, or yearly type.
The borrower can visualize his interest paid, principal paid, and the remaining balance after each payment from this calculator. sheet and insert all required inputs in the blue-shaded area of the Input Values column.Get FREE Advanced Excel Exercises with Solutions!Ī mortgage calculator is an important tool for borrowers to repay their remaining loan. How to Use This Templateįollow the instructions below to use this template efficiently. You will alos find an output summary containing all important outputs and a summary chart showing the principal paid, interest paid, and remaining balance. In this template, you will be able to insert all your required inputs and get an automated amortization table based on your loan parameters. It enables the borrower to track his/her loan repayment process easily.Įxcel Monthly Amortization Schedule Template ⏷ Excel Monthly Amortization Schedule Template Tips What Is Monthly Amortization Schedule?Ī monthly amortization schedule is an amortization schedule that shows the principal paid, interest paid, and the remaining loan balance after each monthly payment over the loan tenure. ⏵ Excel Monthly Amortization Schedule with Extra Payments (Regular/Irregular) Template ⏷ Excel Monthly Amortization Schedule Template
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