How do you fill out a mortgage analysis worksheet?


Quick Answer

To complete a mortgage analysis worksheet, determine all values associated with the debt including terms, interest rate and initial balance and enter the appropriate figures into the spreadsheet, reports Home Fair. Use software such as Microsoft Excel to enter formulas and automatically calculate the debt totals.

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Full Answer

Some of the relevant figures in a mortgage analysis worksheet include term, interest rate, initial balance, term in months, monthly payment and remaining balance after monthly payment, states Home Fair. Enter all data pertaining to your mortgage for each of these fields. Templates are available at HomeFair.com; Vertex42.com also offers several templates and calculators for mortgage analysis. Some of these documents are available in Google sheets format as well.

The Microsoft Excel calculators available from Vertex42.com have sections dedicated to mortgage information, balance during a specified year, extra payments, summary and associated payment schedule. Enter information into all fields, including the total mortgage amount, term length, home value, extra payments and balance. Determine if the mortgage is a variable or fixed rate mortgage. The Vertex42 template then automatically calculates required minimum payments, interest due and remaining balance. If your budget allows, enter any additional payments to expedite the mortgage payoff process. The template also considers any relevant tax refunds if the interest is tax deductible.

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