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Home Loan Projection

In this blog I have attached a excel spreadsheet you can see projection of your home loan. Using this spreadsheet to can calculate following things.

1. How long your loan will continue.

2. Total how much amount you will be paying in entire loan tenure.

3. What is effect of change in rate of interest

4. What is effect of change in EMI amount.
and
5. Effect on total amount in case of Prepayment of partial amount.

Following is instructions to use spreadsheet.

1. change values in Gray Background cells only. This will be helpful to maintain formula unchanged
2. This worksheet is created to see projection of home loan. To see effect of change in EMI, rate of Interest or pre-payment of principal amount follow given instructions.
3. Change in EMI: To see change in EMI, adjust value in column “D” for EMI amount. You can change EMI amount for any particular month and this change will be applicable following that month. To revert back your change just drag formula in previous month to changed month
4. Change in Interest Rate: Similar to changes in EMI amount, you can change EMI amount in any month. This change will be applicable for following month. To revert back changes just drag previous month formula to current month
5. Effect of Prepayment / Addition to Principal: To see effect of Prepayment of loan Principal Amount, Insert how much amount you want to prepay in respective months. For prepayment insert amount in Negative, i.e. If you want to prepay 5,000 insert -5000 in addition to Principal cell. If you are thinking of additional Top-up loan insert top-up amount in “Addition to Principal” cell.
6 To see how long your loan will continue check for “Opening Principal” cell where your opening principal becomes 0
7. Check out for how much total amount you end up paying for your opening principal in “Cumulative Amount” column

To view spreadsheet click on this
to paste in address bar :
http://spreadsheets.google.com/ccc?key=pTv4-TiYyovDlS5MldSOaTw
To edit create local copy on your machine use Export functionality in spreadsheet menu.

Notice: This utility is provided on "As is" basis. If you think calculations presented in spreadsheet is incorrect, you are free to modify as per your requirement.