Mortgage, Loan & Refinancing Excel Calculator - Free Download

Curious how your mortgage payment is calculated? Want to see how your monthly installment changes when the interest rate changes, or whether refinancing to another bank is worth it? With the BlueNumbers Excel mortgage calculator, you can model it yourself.

Download the Mortgage & Refinancing Calculator (.xlsx)

✓ Open & editable · ✓ View formulas · ✓ Free to use and modify with attribution

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What this calculator can do

This Excel mortgage calculator shows multiple scenarios and calculations related to mortgages and loans. It is inspired by typical calculators used in banks and built on standard compound interest formulas.

Included models

Single mortgage / loan calculator – the simplest model. Perfect if you are new to mortgage calculators.
Mortgage combined with consumer loan – shows the situation where you take a mortgage and a consumer loan at the same time.
Refinancing calculator for mortgages – compares your current mortgage with a new mortgage at another bank and helps you decide if refinancing pays off.

Designed for “playing around”

The calculator is interactive and meant for experimenting:

Adjust the input values in the top tables according to your own situation.
Model different loan amounts, interest rates, and terms.
Compare different scenarios and see the total cost over time.

Examples in the file include standard mortgage, mortgage + consumer loan, and refinancing scenarios.

Key features

Format: .xlsx (Microsoft Excel)
Fully open and not password-protected – all formulas are visible.
Uses standard compound interest formulas commonly used in banks.
Includes calculated tables and clear charts.
Part of the Excel tools for download on BlueNumbers.
You can freely modify the file if you know Excel, and adapt it to your needs.

Different currencies

The calculator is purely based on mathematical formulas. Currency symbols (such as EUR) can be replaced with any other currency (e.g. USD) without affecting the calculations.

Basic mortgage & loan terms explained

If you are not familiar with mortgage terminology, this short glossary will help you use the calculator correctly.

Principal – the amount of money you borrow from the bank. This is usually the size of your mortgage.
Outstanding principal – the amount you still owe the bank at a given moment. It decreases as you make payments. When the outstanding principal is zero, your loan is fully repaid.
Interest – the amount you regularly pay the bank for lending you money. It depends on the interest rate.
Interest rate (often expressed as % p.a.) – the percentage the bank charges you per year for borrowing money. For example, if you owe 1,000 EUR and your interest rate is 1.2% p.a., you pay 12 EUR per year in interest.
Installment / payment – your monthly payment to the bank. It has two parts:
- Principal part – reduces the amount you owe.
- Interest part – the bank’s reward for lending you money.
Annuity payment – a fixed (constant) installment where the total payment stays the same, but the ratio between principal and interest gradually changes.
Status of interest and principal at a certain payment – shows how much you will still owe and how much interest you will have paid after a given number of installments.
Fixed-rate period (fixation) – the period during which the bank guarantees your interest rate will not change (e.g. 1, 3, 5 or 10 years).
Refinancing – moving your existing mortgage or loan to another bank, usually to obtain a lower interest rate or better conditions.

How to use the calculator

Download the Excel file and open it in Microsoft Excel or a compatible program.
Start with the simple single mortgage calculator if you are new to these tools.
Enter your income, loan amount, interest rate, and loan term.
Review the calculated monthly installments, total costs, and charts.
Explore advanced sheets:
- Mortgage + consumer loan combination
- Refinancing comparison between your current and a new bank

Authors & credits

The calculator was created for the investment portal BlueNumbers.com.

Author of the calculator:
Robert Durec - https://robertdurec.com

Special thanks to our partners at ExpertPowerBI.eu for creating this calculator.

License

CC-BY 4.0 · Open License

This mortgage calculator is licensed under the Creative Commons Attribution 4.0 International License (CC BY 4.0).

You are free to:

Use the calculator for personal or commercial purposes
Share it with others
Modify and adapt it to your needs

under the condition that you provide proper attribution to: Robert Durec and BlueNumbers.com.

Related tools & articles

Calculator: Investment Calculator (Excel download)
More tools: Excel tools for download on BlueNumbers

Download the latest version

You can always download the latest version of this Mortgage & Refinancing Calculator from the BlueNumbers website:

Download Mortgage Calculator (.xlsx)