Excel Model: Adjustable Rate Mortgage (ARM) Calculator
Title: Adjustable Rate Mortgage (ARM) Calculator
Description:
This spreadsheet is designed to help users calculate the payments and financial implications of an adjustable-rate mortgage. It includes sections for loan information, rate adjustments, and an amortization schedule.
- Loan Information: Details of the loan, including loan amount, term, starting interest rate, and first payment date.
- Rate Adjustments: Information about the rate adjustment periods, expected adjustments, and interest rate caps.
- Amortization Schedule: Breakdown of each payment, including payment date, interest rate, payment due, interest, principal, balance, and cumulative totals.
- Loan Information:
- Ensure all loan details are accurately entered before proceeding with calculations.
- Regularly review and update loan details as necessary.
- Rate Adjustments:
- Monitor the rate adjustment periods and expected changes in interest rates.
- Be aware of the interest rate cap to understand the maximum possible rate.
- Amortization Schedule:
- Review the amortization schedule to understand the distribution of interest and principal payments.
- Use the schedule to plan for potential changes in monthly payments over time.
Source: Custom Calculator
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Detailed example of using Spreadsheet: Tasks for user to complete:
- Loan Information Section:
- Enter the loan amount, term, and starting interest rate.
- Example values: Loan Amount – $1,000,000, Term – 10 years, Starting Interest Rate – 6%, First Payment Date – 1/1/2019.
- Example values: Loan Amount – $1,000,000, Term – 10 years, Starting Interest Rate – 6%, First Payment Date – 1/1/2019.
- Enter the loan amount, term, and starting interest rate.
- Rate Adjustments:
- Enter details about rate adjustment periods and expected adjustments.
- Example values: Rate Remains Fixed for – 5 years, Months Between Adjustments – 24, Expected Adjustment – 0.25%, Interest Rate Cap – 12.00%.
- Example values: Rate Remains Fixed for – 5 years, Months Between Adjustments – 24, Expected Adjustment – 0.25%, Interest Rate Cap – 12.00%.
- Enter details about rate adjustment periods and expected adjustments.
- Amortization Schedule:
- Review the payment schedule, including payment dates, interest rates, and payment amounts.
- Example values:
- Payment Date: 01/01/19, Interest Rate: 6.00%, Payment Due: $11,102.05, Interest: $5,000, Principal: $6,102.05, Balance: $993,897.95.
- Payment Date: 01/01/19, Interest Rate: 6.00%, Payment Due: $11,102.05, Interest: $5,000, Principal: $6,102.05, Balance: $993,897.95.
- Example values:
- Review the payment schedule, including payment dates, interest rates, and payment amounts.
This spreadsheet consolidates all information related to an adjustable-rate mortgage in one place, making it easier to monitor and calculate mortgage payments. By providing a clear view of loan details, rate adjustments, and payment schedules, it helps users make informed decisions about their mortgage strategy.
Source: Custom Spreadsheet
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