Start by adding the total purchase price for the home youre seeking to. Lets say that you can afford an all-in monthly mortgage payment including taxes insurance and HOA. For example for that same 200000 house with a 433 percent interest rate your monthly payment for a 15-year loan would be 151267 but you would only pay 7228012 in interest.
I your monthly interest rate.
Save the workbook file with an appropriate and descriptive name. If youve already shopped around for a loan and have been offered a range of. You can also enter the amount that you think you will offer. M monthly mortgage payment P the principal or the initial amount you borrowed.