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Home Loan Planner - Excel based

Prasanth Rajan (Engineer) (55 Points)

14 September 2008

I have developed a simple Micsoft Excel based Home Loan Calculator (Amortization Schedule) and is available for download at https://www.freewebs.com/rajanpras/homeloancalc.htm . The reason why I am not attaching is that this could be revised based on inputs and / or feedback from Users.
This not only calculates the EMI applicable, but also gives the split of interest and Principal components of each EMI. In addition, this also takes care of Principal pre-payments made and also interest rate changes done for floating rates.
Do mail or reply to this thread with suggestions and / or issues if any.

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11 Replies

CA E.A.Ravikumar ( ) (325 Points)
Replied 14 September 2008

good work prasanth.

from income tax perspective, the users will be interested to know the principal and interest repayment during April-March period tll the loan is paid in full . for example, if loan is availed from 1 oct 08 for 15 years then summary of the interest & principal for April -Mar ( for the first year the summation will be from oct 08 to march 09 & similarly for the last year it will be from April xx to Sep xx) shall be listed.

Can this be attempted.

Prasanth Rajan (Engineer) (55 Points)
Replied 14 September 2008

Originally posted by :CA. Ravikumar
"	good work prasanth. from income tax perspective, the users will be interested to know the principal and interest repayment during April-March period tll the loan is paid in full . for example, if loan is availed from 1 oct 08 for 15 years then summary of the interest & principal for April -Mar ( for the first year the summation will be from oct 08 to march 09 & similarly for the last year it will be from April xx to Sep xx) shall be listed. Can this be attempted.	"

That is a good suggestion - let me try this. I will keep everyone posted.

Prasanth Rajan (Engineer) (55 Points)
Replied 14 September 2008

Originally posted by :Prasanth Rajan
"	Originally posted by :CA. Ravikumar " good work prasanth. from income tax perspective, the users will be interested to know the principal and interest repayment during April-March period tll the loan is paid in full . for example, if loan is availed from 1 oct 08 for 15 years then summary of the interest & principal for April -Mar ( for the first year the summation will be from oct 08 to march 09 & similarly for the last year it will be from April xx to Sep xx) shall be listed. Can this be attempted. " That is a good suggestion - let me try this. I will keep everyone posted.	"

Whew - "that" took some time and effort. It is now done and the tax area is also added on the same sheet. Download is available from the same URL - https://www.freewebs.com/rajanpras/homeloancalc.htm .

Regards.

Prasanth

CA E.A.Ravikumar ( ) (325 Points)
Replied 15 September 2008

great. Thanks.

Prasanth Rajan (Engineer) (55 Points)
Replied 10 October 2008

Hi all,

Please note that there is a minor correction in Principal computation when there is repayment. This is now corrected and version 1.2 and the same is now available for download at the same URL - https://www.freewebs.com/rajanpras/homeloancalc.htm.

Regards.

Prasanth

(Guest)

Please forward the soft copy so that calculation can be done while learning .

Regards

Gopi Srinivas (Salaried) (20 Points)
Replied 03 November 2008

Personal TDS calculation sheet is very useful. Thanks for the update.

Ramakrishna (Financial Executive) (438 Points)
Replied 03 November 2008

Dear Prashanth Rajan!

Home loan calculator - Good effort indeed!

It will be still more nice, if the home loan calculator takes into account the lateral variations in the actual remittances into the Home loan account.

This is quite necessary since there will definitely be variations in the amount paid during the lateral years into the home loan A/c, as there would normally be increase in income in the case of any individual.

Good bye! Cheers!!

(Guest)

This will end your search for advance emi calculator

you would like to look at this, https://cpmlive.wordpress.com/2008/11/08/advance_loan_amortization_emi_calc/

(Guest)

That is a very useful mortgage calculator, another one can be found on this website and it allows you to calculate amortization quarterly, semi-annually and annually as well as provide different interest rates. It also calculates closing costs as a wholesum figure (e.g $3000) or a percentage of the mortgage (1%).

Girish Kamath (Director) (22 Points)
Replied 20 January 2009

Hi Prashant, Great work ! This was exactly what I was looking at. Till now I was using Vertex calculator, which is good but lacks one feature about variable interest rates. Your calculator solved that.

I would like to see your calculator enhanced to show calculations based on variable disbursements. For my house, the bank disbursed money at different intervals.

I am too proficient in excel and can give my time for that. Please mail me at girishkamath _at_ yahoo _dot_ com