Loan details are listed at the top, including lender information, interest rate, the length of the loan, and more. No, you shouldn’t be going out and spending that money on useless crap. I know not everyone has the money to buy a fancy spreadsheet, so I went ahead and created a simple & clean Loan Amortization Table spreadsheet that will help you track your monthly payments and keep track of how much interest you will be paying over the course of the loan. It also gives you your total net position and a graph outlining your specific mortgage plan. As a last point in describing The Spreadsheet I’d like to point out the giant red bold note on the Dashboard tab. Planning your budget Our budget calculator is a useful tool that can give you an idea of your financial position. You need to click on [Enable Editing] in the yellow banner at the top of the spreadsheet to change variable amounts. How to Use the Loan Payment Schedule: How to enter loan information, see the payment schedule, and … Most will dislike this idea but use The Spreasheet fortnightly. Pickup a copy of the Home Mortgage Tracker Excel spreadsheet today! Each fortnight, around pay day, give it a quick 1-2 minute look over. Yes, it requires discipline. This means that to actually edit and use this for your own purposes (which I highly suggest) you will have to make a copy for yourself. Over the last decade the cost of electricity has gone up more than 250%, it's insane! Even if you simply estimate the numbers off the top of your head it is better than doing nothing, the main focus should be on just getting some information in there. The single, most direct and efficient way to kill a mortgage is to pay more towards it regularly. Try a financial template calculator in Excel to help pay off a car loan, student loan, or credit card balance. To save a calculator to your computer righ… It’s been filtered, optimized, tested, optimized again, tested again and tweaked with all the most important things you’ll need built right into it and simplified to the core. You can then proceed to your awesome Dashboard tab and get an nice visual update on how you are doing with your loan. Today I’ve written up a piece that not only gives a bit more background …, This is Mutilate The Mortgage, so it's safe to say we're pretty big fans of paying off a mortgage early …, For the newer readers... if you’re interested in learning more about being mortgage free in under 10 years, automatically and without cutting back on the things you love... You’ll probably like. After a while you will be able to look back in pride as you see just how far you’ve come and how destroyed your mortgage is. Fill out your: When filling out the Expenses tab (the tabs of the spreadsheet are located at the bottom) please don’t feel that you have to be 100% perfect. One of the biggest advantages of The Spreadsheet is its ability to simulate “what if” scenarios on the fly. Once that’s done your new copy will open up in a new window. So don’t just browse over this document like it’s one of those “Top 10” lists, if you are looking for those disposable reads leave this site now as it’s not for you. 2) How to get rid of your debt and have the freedom to spend money on the things you love, guilt free Get a quick and clear picture of what it will take to pay off your mortgage with this accessible mortgage loan calculator template. The Home Mortgage Tracker Spreadsheet allows you to track and analyze your current loan agreement to easily consider the total cost of the mortgage. Business Plan template A Business Plan is like a blue print for your business - it details all your goals and how you plan to achieve them. I saw how valuable this spreadsheet was for my personal finance and put a ton of effort into it to make it efficient enough to work for everyone. 7) How to do all of these things and maintain a normal social life (and never be cheap). So don’t just browse over this document like it’s one of those “Top 10” lists, if you are looking for those disposable reads leave this site now as it’s not for you. This is to become the centrepiece to mutilating your mortgage. There are two versions of this template available to download. Your home mortgage is most likely the largest debt you will take on during your lifetime (it certainly was for me). You're bored and looking for something to do. Unless you are an accountant, you are probably cringing (or completely terrified) after seeing the word: Amortization! Mortgage loans are complicated in many different ways, especially if you’re applying for a loan through a lending institution. Great! Making a copy is simple, just open the spreadsheet and click “File -> Make a copy…” as shown below. Instead of an “Amortization Table”, let’s just call it your “Loan Table”. Yes, this is an ongoing thing. How long you have to pay off the loan (typically 15 or 30 years)? Extra Payment Mortgage Spreadsheet This is one of the original mortgage spreadsheets created prior to most of the mortgage calculators listed above. Are you making payments Monthly, Bi-Weekly, or Weekly? Bill shock, especially here in Australia is a very real thing. A business plan is the blueprint for your business and is a great tool for focusing your thinking. Learn how to setup your mortgage, automate everything and then pay it off fast! You want a plan that’s proven to work, easy to follow and simple to understand without all that annoying finance mumbo-jumbo crap. How To Get A Sparse Home And Its Benefits, A Home Loan Deposit That’s Right For Australians, How to Take Back Control of Your Time (Your Best Ally in Fighting Debt), Starting Out On A Roll Part IV: Personal Bills, Pay Off Your $400,000 Mortgage In 7 Years, The Best Way To Compare Home Loan Interest Rates, Have A Great Relationship With Money Whilst Budgeting, FHB Tips: How To Get A Sparse Home And Its Benefits, The Non Biological Brain Inside Your Brain, Guest Post: How To Work For 10 Years And Retire Like A Boss, If You Don’t Have Solar, You’re Missing Out Big Time, Don’t Let Corona Derail Your Savings Power, Your Loyalty Is Costing You Thousands Per Year. More Free Mortgage Spreadsheets You may start a new exercise routine of swimming daily, decide you don’t need a haircut as often, want to travel more and so on however with The Spreadsheet you can quickly punch in the new number and make an informed decision of whether that new expense is REALLY worth it or not. How much should I overpay? Please note, for those of you squeamish about entering in personal financial details online this is a read only version. Do I overpay? So go ahead and check out what I’ve put together and determine if one of the two offerings is something that would be useful for you! This spreadsheet forms a strategy that guides you step by step in paying off that mortgage quicker whilst not treading too far into the “deprivation zone” so many people associate with budgeting. A help sheet is included in the materials for students who are not confident with spreadsheets. To help you budget, we've got a free downloadable spreadsheet where you can detail all your income and outgoings. Jan 31, 2020 - Mortgage Quality Control Plan Template - 25 Mortgage Quality Control Plan Template , Sample Control Plan Templates 8 Free Documents In Pdf You should only change the blue fields and there are tips on some of them with further clarification. “Make sure you’re getting a good interest rate“, “Make sure you pay fortnightly“. All data and information provided on this site is for informational purposes only. A business plan helps you to: As I’ve said before, your mortgage is quite likely THE most important expense going on in your life. This will open a new Excel spreadsheet. The presentation is intended to be used to introduce the task. Our free Budget Planner puts you in control of your household spending and analyses your results to help you take control of your money. Most know that solar can help with it but so many still don't have it installed on their roof yet. There is also a section that will allow you to quickly perform a scenario analysis on your monthly payments. The details required are the loan amount, the interest rate, the number of years over which the loan is taken out, and the number of payments per year. Something that will be the centrepiece in destroying your mortgage. Click the Buy Now button below to quickly get your hands on this amazingly powerful Excel spreadsheet! This Core Maths task involves the analysis of mortgage repayments and requires the calculation of percentages and the use of a spreadsheet. The latest version is 4.0b (4 Mar 2017). Not a “big ass …, In a previous post I mentioned that most people don’t give their mortgages the attention they deserve. Confessions Of An Australian Home Loan Specialist. You will feel more in control of your finances, you will have a specific end date for your mortgage that will greatly motivate you and you will be able to see in real time what effect your expenses have on the loans end date. While you are exploring your refinancing options, you’ll be able to refer to this useful mortgage refinance calculator. No material contained within this website should be construed or relied upon as providing recommendations in relation to any financial product. Skim down through the Feature Grid below, so you can determine which version is right for you! Use Excel to get a handle on your mortgage by determining your monthly payment, your interest rate and your loan schedule. They never address it because it is hard to do and hard to stick to but it is achievable, just pull up The Spreadsheet each pay day and make sure you’re on track. Then you can change the view by sorting debts by type, interest rate, minimum payment, and other options. Today though I want to look into how your loyalty to the banks could be costing you thousands of dollars a year, all while providing you no extra benefits. Then it is priority number one. It covers objectives, strategies, sales, marketing and financial forecasts. (This spreadsheet requires Excel 2016 running on a Windows PC.) It might seem simple, but it is the secret to conquering Long Term Problems. I want you to come to Mutilate The Mortgage for far more advanced, leading class help in getting rid of your debt and this is to be the crown jewel. It calculates your monthly payment and lets you include additional extra payment (prepayments) to see how soon you could pay off your home, or how much you could save by paying less interest. This template serves as a retirement calculator and budget worksheet that you can use to plan for retirement while accounting for inflation. So without further ado, I give you…, Known from now onwards as “The Spreadsheet”. Guru Solutions, LLC | © 2015-2020 | ALL RIGHTS RESERVEDExcel, PowerPoint, Word, & the rest of the Office Suite are registered trademarks of the Microsoft CorporationThis site is not affiliated with Microsoft Corporation. No, it’s not hard, it takes in total about 5 minutes per month to do and will save you thousands of dollars. 1) How to pay off your mortgage faster than 99% of people with one hour a month of work 5) How to cut through the crap and focus on the things that truly matter when taking down a mortgage These were all questions that ran through my head and inspired me to put together a spreadsheet that helped me track my loan and understand exactly how much interest I was paying to the bank. It’s already helped hundreds of thousands of people. How much have you spent on home improvements (ie new furnace, finished basement, etc…)? 6) How to adjust the strategy so it works for you, even if you have kids, even if you only have one income “Until this debt is erased, the mortgage is priority number one.”. I look forward to reading your thoughts! All you need to do is go into this table each month and enter your loan payment amount, Escrow payment (if applicable), and interest rate (if you don’t have a variable interest rate, it will remain the same no matter what). Update your bank account values (as you just got paid), make sure your mortgage is at where your plan says it should be at and if you feel like it, maybe have a look at what expenses you may need to investigate. Mortgage and protection advice is provided by Embrace Financial Services Ltd., and General Insurance advice is provided by First2Protect Limited, each of which are Appointed Representatives of PRIMIS. “How much sooner would we pay off the mortgage if we only had one car?” is something that’s easily answered. Select Blank Workbook. “The greatest enemy of a good plan is the dream of a perfect plan.” – Prussian General Karl von Clausewitz, Vom Kriege, 1832. Now is your opportunity to pick up this revolutionary Excel spreadsheet that will bring clarity to your home loan and hopefully give you the confidence to save some money on interest. There's lots of good reasons to be tempted to spend your money so today I'd like to interject. It is important, will take up a small amount of your time (5 minutes or so each month) and there is a learning curve, but the rewards are extremely worthwhile. As with all purchased products sold by TheSpreadsheetGuru, you don't have to worry about purchasing too early! This single tab Excel file is easy to maintain and does a great job at helping you track your loan. Once you have copied the document to your own Google Account you can begin editing the fields as specified by the orange instructions. You're being forced to stay at home. It is available below for download. It may seem simple on the surface, but that is just the honest brutal truth coming through. Need help with big financial decisions? I know you all want to kill that mortgage and do it quickly. Read the tips below to help you fill in the spreadsheet, then choose one of the two available versions of the tool: an Excel or Open Office version if you prefer spreadsheets, or a … Links to products contain affiliate links. After you purchase this template, you will be placed on an exclusive email list where you will directly receive any update made to this product. This site is about teaching and pushing you to mutilate that mortgage of yours. Retirement Planning Calculator with Integrated Reverse Mortgage Options This spreadsheet allows users to plan their retirement, including possible use of a reverse mortgage, and manage the process thereafter. I'm so confident you will love this Excel spreadsheet, I'm willing to give you 30 days from your purchase date to decide if this is the tool for you. Don’t worry, I’ve gone ahead and done all the hard work and created all the formulas that will track the interest, principal, and current balance of your loan. The Mortgage Planning Spreadsheet is a post from: www.MutilateTheMortgage.com. Open Microsoft Excel. I hope you find it useful and wish you all the best in finding a suitable mortgage. Before making any commitment of a financial nature you should seek advice from a qualified and registered financial or investment adviser. To mutilate a mortgage it must take top priority and you must cut away all the other expenses so that everything possible is thrown at getting rid of that giant elephant. This single tab will consolidate all the important information about how you are tackling paying off your home mortgage. Use the “File -> Download as” option. Create your "Categories" column. If your expenses aren’t 100% accurate then the numbers will be off, but as you continue to use The Spreadsheet you will be able to update them and approach perfection. Fill in all your monthly income and outgoings, and it will estimate how much money you have left over based on your figures. By default this calculator is selected for monthly payments and a 30-year loan term. 4) How offset accounts work and how to get the same result without being gouged by the big banks This spreadsheet combines all the complex research, adds in a pinch of psychological points and boils it all down to a specific plan to freedom. No spam. After putting this spreadsheet together, I was able to easily see how I could save over $10,000 if I just increased my monthly payment by a few hundred dollars. Creating a Mortgage Calculator 1. You will be required to submit a Business Plan with your final Start Up Loan … Throughout the years I have investigated dozens of various possibilities to cut down mortgage terms and only kept the best. To use this template, you will need to provide just a few things about your loan agreement: Which Currency do you want your numbers in (Dollars, Euros, Yen, or Pounds)? There are 3 main sections on this page: 1. Writing the business plan for your mortgage company forces you to consider important subjects early on, before they can develop into serious mistakes that may not be correctable. You can take a more in-depth look at the breakdown of a loan … Who is getting paid what, how much your loan payments should be and how much each of your expenses are. Once you’ve entered in all the figures you can now have a look at all the automatically calculated data and graphs. While some say cash is king the truly wise know that money is worthless unless you have the time to …, This is an extremely detailed series of posts that applies not only to First Home Buyers, but also to existing home-owners. The main area is the very first Dashboard tab which gives you a snapshot of what should be happening money wise each fortnight. The amount of money that was loaned to you. If you’d rather not work with Google Drive then you can also choose to download it as an Excel file and use it that way. They are bits of candy that you can read in 1-2 minutes, think “yeah, those are some alright idea’s” and then close it down feeling good about yourself that you’ve read it. To a basic interest-bearing savings Account or investment advice and should not construed... Current loan agreement to easily consider the total cost of electricity has gone up more 250... 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