Loan Amortization in a cell

[Larry Hughes]

I'm a Home Loan Officer in Los Angeles and I'm creating a Finance sheet for
some realtors I work with for there open houses and I'm looking to give
examples of payments.

So what I need is the formula of the Loan Amortization of a 30 year fixed
loan. Is there documentation on it that breaks it down sot that know how to
apply it with my sheet?

Larry Hughes
Progressive Loan Funding
(e-mail address removed)
(323) 228-2736 cell

 

[Jock]

Try here
http://office.microsoft.com/en-us/templates/results.aspx?qu=amortization&av=TPL000--

Jock

 

[Tom Ogilvy]

Look at the PMT (Payment) function in Excel help.

there are a series of related functions associated with PMT. In the help
click on the See also Link. The PV (present Value) formula help actually has
the "master" formula for these functions and provides greater detail.

 

[Larry Hughes]

Tom, I used the PMT and it seemed to work for me but...

The number is a negative number by default because it is a payment. I need
to know how to change the sign or change it to a positive number. On my HP
financial calculater there is "CHS" key for change sign. I need to do this
because I have other cells dependant on this cell and when it is a negative
number it through the rest of the work sheet off. I have uploaded the excell
sheet for your viewing to the following;

http://www.larryhughesjr.com/New Scenario.xls

Any help you can give would be appreciated!

Larry Hughes
(e-mail address removed)
323 228-2736 cell

 

[Larry Hughes]

Tom, I used the PMT and it seemed to work for me but...

The number is a negative number by default because it is a payment. I need
to know how to change the sign or change it to a positive number. On my HP
financial calculater there is "CHS" key for change sign. I need to do this
because I have other cells dependant on this cell and when it is a negative
number it through the rest of the work sheet off. I have uploaded the excell
sheet for your viewing to the following;

http://www.larryhughesjr.com/NewScenario.xls

The row I'm referring to is Mortgage Payment Row, Columns B,C, and D

Any help you can give would be appreciated!

Larry Hughes
(e-mail address removed)
323 228-2736 cell

 

[Larry Hughes]

I figured it out... since the PMT function puts out a negative number I just
changed the PV in the equation to a negative number. Two negatives equal a
positive.

Thanks again!

Larry Hughes
(e-mail address removed)
323.228.2736 cell