Excel Formulas to Calculate an Estimated Mortgage Payment!!
Tags: excelformula, excelformulas
Published: 2021-06-30 01:55:15

---
title: Excel Formulas to Calculate an Estimated Mortgage Payment!!
published: true
date: 2021-06-22 15:21:18 UTC
tags: ExcelFormula,Excelformulas
canonical_url: https://geekexcel.com/excel-formulas-to-calculate-an-estimated-mortgage-payment/
---

For most modern people, calculating monthly mortgage payments has become a common job. Today, I will introduce some formulas to **calculate the monthly mortgage payment in Excel** for you. Let’s step into this article!! Get an official version of ** MS Excel**  from the following link: [https://www.microsoft.com/en-in/microsoft-365/excel](https://www.microsoft.com/en-in/microsoft-365/excel)

[![Calculate an Estimated Mortage Payment](https://geekexcel.com/wp-content/uploads/2021/06/Calculate-an-Estimated-Mortage-Payment.png)](https://geekexcel.com/excel-formulas-to-calculate-an-estimated-mortgage-payment/calculate-an-estimated-mortage-payment/#main)<figcaption id="caption-attachment-47846">Calculate an Estimated Mortgage Payment</figcaption>

## Generic Formula:

- If you want to find out the estimated mortgage payment, you can use the below formula.

**=PMT(rate/12,term\*12,-C9)**

## Syntax Explanations:

- **PMT ** – The PMT function helps to return the periodic payment for a loan.
- **Rate** – It represents the interest rate.
- **Term** – It represents the loan years.
- **Division (/)** – It is used for dividing values or numbers.
- **Minus Operator (-)** – This symbol will help to subtract any two values.
- **Multiplication (\*) **– In this symbol will multiply any two values or numbers.
- **Comma symbol (,)** – It is a separator that helps to separate a list of values.
- **Parenthesis ()** – The main purpose of this symbol is to group the elements.

## Practical Example:

Refer to the below example image.

- Here, we will enter the input values in **Column B** and **Column C**.
- Now we need to find the estimated mortgage payment.

![Input Ranges](https://geekexcel.com/wp-content/uploads/2021/06/Input-Ranges-62.png)<figcaption id="caption-attachment-47848">Input Ranges</figcaption>

- Select any cell and apply the above-given formula.

![Enter the formula](https://geekexcel.com/wp-content/uploads/2021/06/Enter-the-formula-76.png)<figcaption id="caption-attachment-47847">Enter the formula</figcaption>

- Finally, press the ** ENTER**  key, you can get the result as shown below.

![Result](https://geekexcel.com/wp-content/uploads/2021/06/Result-63.png)<figcaption id="caption-attachment-47849">Result</figcaption>

## Wrap-Up:

In this chapter, we have described the formulas to **calculate the simple interest in Excel**. Please feel free to state your **query** or **feedback** for the above article.

Thank you so much for visiting  **[Geek Excel](https://geekexcel.com/)!! **If you want to learn more helpful formulas, check out [**Excel Formulas**](https://geekexcel.com/excel-formula/) **!! **

### Read Also:

- **[Excel Formulas to Calculate the Principal for Given Period ~ Easily!!](https://geekexcel.com/excel-formulas-to-calculate-the-principal-for-given-period/)**
- **[Formulas for Finding Largest Value Smaller than a Specified Number!!](https://geekexcel.com/formulas-for-finding-largest-value-smaller-than-a-specified-number/)**
- **[How to find Vlookup and Return the Matching Values from Multiple Worksheets?](https://geekexcel.com/how-to-find-vlookup-and-return-the-matching-values-from-multiple-worksheets/)**
- **[Excel Formulas to Calculate the Payment for a Loan ~ Useful Tricks!!](https://geekexcel.com/excel-formulas-to-calculate-the-payment-for-a-loan/)**