Setup a Microsoft Excel Mortgage Payment Formula or Spreadsheet

This is the formula I use to calculate a payment for a 30 year fixed rate mortgage not including any escrow related monies, just principal and interest:

=IF(AA2=“”,ROUND(PMT(U2/12/100,360,-T2,0),2),T2*U2/12/100)

T2 = my loan amout field

U2 = my interest rate field

Mortgage calculators are dime a dozen on the internet as well, just google Mortgage Calculator and you will get millions of options.

I hope that helps in the way you need it!