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Mortgage & Amortization Calculations/Scripts


Jim McKee

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I'm looking for a way to not re-invent the wheel smile.gif

 

I need a calculations/scripts to produce amortization schedules for fixed rate mortgages. User would enter Principal Amount, Interest Rate, Number of Payments, and Date of First Payment. The resulting report would show for each of N months: Payment Date, Total Payment, Principal Payment, Interest Payment and Remaining Balance.

 

I'd also like to give the user the option of calculating the Amortization based on making bi-monthly payments, making an extra principal payment each year, and including Real Estate Tax and Homeowner's Insurance into the total payment.

 

TIA for whatever info you can provide.

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Jim

Look in your functions, PMI and the help. I needed the same thing a year ago or so. It's pretty simple. Took @ 5 or 10 minutes.

John

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John ...

 

Thanks for your reply.

 

I needed to shake out monthly interest and principal amounts for display in amortization tables, so the PMT function wasn't quite up to the task.

 

I managed to find the actual computations required at:

Calculating Amortization Tables By Hand

 

With the computations in hand, I built the Filemaker structure in about an hour. If anyone wants this, send me an email and I'll get the files to you ... although building the structure yourself will give you a more in depth understanding of the processes required to produce the amortization tables. cool.gif

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