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Mortgage Calculator
Excel and Google Sheets Template

Calculate your mortgage and payment schedule with our Mortgage Calculator and Rental Income Excel and Google Sheets Template. Equipped with dynamic charts and graphs to view your principal and interest payments over a 15 or 30 year loan.
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What's Inside the Mortgage Calculator Template?

Details | 5 Sheets 

Supported Versions | Excel 2010, 2013, 2016, 2019, Office 365 (Mac), Google Sheets

Category | Real Estate

Tags | Payoff, Amortization, 15 year, 30 year

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Inside Our Mortgage Calculator

Excel and Google Sheets Template

In the Monthly Rental Income sheet of our Mortgage Calculator Excel and Google Sheet Template you can see the rental income mapped out and charted.

The largest purchase most people make in their lifetime? 

A Ferrari. 

That’s obviously not true, but wanted to make sure you’re paying attention. The answer is a home. While millennials living in New York City or San Francisco won’t ever get to feel that joy (that was the last joke, promise), it’s important to understand the financial obligation you walk into when signing up for a mortgage. 

That’s why we created the Mortgage and Rental Income Excel Template. There are two main tasks this template helps you achieve. The first calculating your mortgage payment information. The second is calculating your rental income if you rent out a home or even a room you own. 

Before we dive into how to use this pre-built spreadsheet, you’ll also want to check out our Personal Budget and Room Repair Request template (only if you are a landlord this will be helpful). 

Start in the Mapping sheet and confirm the Payment Frequency details.

Hop over to the Monthly Rental Income sheet, even if you’re not renting out your property. Input your data in the Real Estate Object section. Fields include Total Size (Square Feet or Meters), Purchase Price, Down Payment and Additional Expenses like Realtor, Land Registry and Taxes. The Total Capital Required will automatically calculate and be used in the Mortgage Calculation sheet. 

If you are not renting out the property or even another property, you can move to the Mortgage Calculation sheet without filling out the Monthly Rental Price. If you do fill that out, the Gross Yield Per Square Feet or Meter will automatically calculate. 

Below where you fill out that information is a chart that displays Accumulated Income and Monthly Cash Flow. Below the chart is an Income Schedule table for you to track monthly rental payments and additional expenses. You can even add notes about changes such as a tenant moving in or out and how that may adjust the cash flow that month. 

See the Payment Schedule on a 15 or 30 year mortgage mapped out in the Monthly Calculator sheet
View your Total Cash Flow by month in this sheet

Move to the Mortgage Calculation sheet and input your Mortgage Details. While the Loan Amount will be reflected in the data you put in the other sheet, fill out the Interest Rate, Duration of Loan, Payments Due, Payments Frequency and Date of First Payment. 

The chart below will auto populate the Amortization Schedule. Seeing your payments not stop until 2049, given how rough 2020 was, reminds us we might get through this year. 

Below that is a table with your Payment Schedule, detailing every payment due up until the house is paid off. You can also see the Principal vs. Interest Paid and Closing Balance. 

Whether you have already bought a home or are planning to buy one, a spreadsheet like this gives you real data that will be helpful in your decision making. 

If that wasn't enough reason to get this template, did you know this template is compatible with Google Sheets? Collaborate with your co-workers in real time and enjoy the cloud auto-save feature of Sheets when you use this template!

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