We research, you save.

Do you have a calculator that will track my prepayments?

By   |  Posted in Ask The Expert

Q: I need a good calculator program to be able to enter in a loan from 2008 where I paid different amounts of extra principal along the way and would like to be able to see the amortization schedule.  I want to rerun it every month as I pay different amounts of extra principal.  I don't mind keying in everything, as long as it's only one time per transaction. Any suggestions?

A: Our downloadable (windows-based) Homebuyer's Calculator Suite will do irregular amortization, but as you note, it is a slow process.

You can download the calculator and install it on a local machine. Run the calculator, and refer to our tips page to find out how to input the irregular prepayments you describe.

However, the mortgage calculator does not have a "save" feature, so you would need to re-do all the calculations each time you make an additional prepayment.

Microsoft Excel does have a mortgage payment/amortization function, and what you want can be built for you, but you'll need someone who is adept at Excel. Alternately, you might search on the Internet to see if someone has a shareware/freeware version you can obtain.

More help from HSH.com

  • Mortage Rates Radar 11/24/2015: Slight Downward Drift for Mortgage Rates

    Consumers experienced a slight upward movement in mortgage rates amid better-than-expected growth in GDP.
  • 8 costs to consider when buying a rental property

  • Mortgage Rates Radar 11/17/2015: Mortgage Rates Still Rising

    Mortgage rates in the U.S. continued their rise, though overall rates remain historically low.
  • 12 ways to get the lowest mortgage refinance rates

    To get the lowest mortgage refinance rates, first prepare your finances and then shop for interest rates with certain strategies in mind. Here are 12 ways to ensure you lock in the lowest refinance rate possible.
  • How to buy and finance apartment buildings

    Here's a guide to what borrowers need to know about how to buy and finance apartment buildings.