All your home loan calculations in Excel

Name: All your home loan calculations in Excel
Rating: 4.8 (19 reviews)

Calculate your monthly loan payments and see exactly how much you can save by making additional payments.

Highest Rated

Created byBrendan Dale

Last updated 9/2019

English

What you'll learn

Calculate monthly payments due for a loan
Calculate the interest portion being paid during each period of a loan and see how it changes over the course of the loan
Calculate the capital portion of the loan that is being paid each month and see how it changes over the course of the loan
Calculate the amount of money that can be saved by paying additional payments

Course content

4 sections • 12 lectures • 40m total length

Introduction0:52
This introductory video gives you a chance to ready yourself for the course. We simply look at what you can expect from the course.

Calculate the loan payment (PMT function)4:40
This lecture covers the PMT function in Excel and by the end of it you will know how to calculate the payment due on a loan provided you know the loan amount, the number of periods and the interest rate.
Calculate the interest portion for a period (IPMT function)1:57
This lecture covers the IPMT function in Excel and by the end of it you will know how to calculate the amount of interest paid during a given period of the loan.
Calculating the principle / capital portion for a period (PPMT function)1:33
In this lecture we will look at the PPMT function in Excel and by the end of this you will know how to calculate the amount that is paid towards the principal (or capital) of the loa for a given period. Thus you will know by how much the loan is being reduced for the given period.
Use an IF-statement1:53
This lecture looks at the IF function in Excel. This is a simple logic condition which you will learn to use.

Set up your new worksheet4:31
In this lecture we will do the initial setup of the spreadsheet that we will be using for the rest of the course. This includes some details of the loan as well setting up headings for the various columns. We'll also create a row for each period of the loan. Here you can follow exactly what I do and set up your own spreadsheet.
Calculate the loan payments over lifetime of loan6:53
In this lecture we learn to use the PMT, IPMT & PPMT functions to calculate the payment for each period of the loan, as well as the interest portion and capital portion. You will also calculate the outstanding balance of the loan for each period until it is paid off. This will give you a detailed overview of your loan payments.
Cater for Additional Payments6:15
This lecture deals with the effects of additional payments on the loan and in this lecture you will learn to calculate the interest portion of a payment after additional payments have been made.
Cater for Additional Payments - Part 27:12
In this lecture we will use the IF function to add some conditional statements to our calculations. At the end of the lecture we will be able to calculate the exact amount of money that will save after making additional payments. We will also be able to calculate the exact period at which our loan will be paid off.
Add a graph to visualize your loan2:20
In this lecture will create a graph showing the Outstanding Capital of the loan for each period; with and without additional payments. This will give you a visual overview of your loan and help you see how additional payments really affect your loan term.

Recap what we did1:49
In this final lecture we simply recap on what we have learnt. I really hope to inspire you to set goals for yourself to pay off your loan! This spreadsheet gives you the ability to accurately work towards paying your loan off at a set date.
Bonus Lecture: Take Charge of your Money0:20
This bonus lecture will help you to link into a group of like minded people who are interested in being in control of their finances and making wise financial decisions.

Requirements

You should already know how to use Excel at a basic level and know how to create basic functions
You will need Excel 2016 (prior versions will work but the screen may look different and this could cause confusion)

Description

Learn to calculate how much money you can save by making additional payments into your home loan / mortgage or other loan.

In this course we'll learn how to use the Financial Loan formulas in Excel to calculate how much money you can save when making additional payments into your loan. We'll also learn to calculate the exact period at which you can pay your loan off. This will really assist you to set achievable goals regarding your outstanding mortgage bond.

This course will take you through a step-by-step guide to create a spreadsheet which details the payment for each period of a loan over the lifetime of the loan. In the example we look at a mortgage bond of 1,500,000 which is paid monthly over 20 years.

The course is created using Excel 2016 and although prior versions of Excel have all the same functionality, the screen may look different so if you are not comfortable using Excel you could get confused. You really should have some basic knowledge of Excel already and you should be able to use formulas and understand how to link cells into formulas.

The topics we cover in the course are:

The Excel PMT function to calculate the monthly payment
The Excel IPMT function to calculate the interest portion of each months payment
The Excel PPMT function to calculate the principal (capital) portion of each months payment
The Excel IF function for logical conditions

It is very encouraging to calculate how much you can save on your bond with even small additional amounts!

You can easily find templates or similar calculations but this course will truly help you understand how a loan works.

Who this course is for:

This course is for anyone who has a mortgage bond (home loan or similar long-term loan) and who wants to calculate how much money they can save by making additional payments.

All your home loan calculations in Excel

What you'll learn

Explore related topics

Course content

Welcome1 lecture • 1min

The Financial Formulas you need to know4 lectures • 10min

Putting it all together5 lectures • 27min

Summary2 lectures • 2min

Requirements

Description

Who this course is for: