Download Home Equity Loan Calculator Template In Excel

Our Home Equity Loan Calculator is an Excel workbook that consists of 3 different home equity calculators. They will help you answer following questions: (1) How much money can I borrow? (2) What will my monthly payment be? (3) How much home equity might I have in 5 years?

home equity loan is basically a “second mortgage“. The terms are often used interchangeably, and any mortgage calculator can be used for a home equity loan. This calculator evaluates a fixed-rate loan, with option of extra payments (which you set up to simulate accelerated bi-weekly payments).

Home Equity

This Excel workbook is a feature-packed spreadsheet that helps you calculate your monthly payment on a fixed-rate home equity loan. It creates an amortization schedule and also allows you to either set up periodic extra payments, or manually enter prepayments in payment schedule.

How much can I borrow?
– Use the Home Equity Calculator worksheet to estimate how much money you can borrow based upon what you still owe on other mortgage and loans.

How much home equity will I have and in years from now?
Use the Home Equity Loan Calculator worksheet to answer this question, based upon current value of your home, the appreciation, and balance of one or two fixed-rate mortgage loans.

How to Use the Home Equity Calculator

The Home Equity worksheet lets you calculate the amount of equity in your home after a number of years. Although it is limited to analyzing fix-rate mortgage, it can be very handy for analyzing your current state, and making useful predictions in case you want to sell your home later.

Here are some of questions it can help you answer:

  • How many years will it take to  pay off the loan.
  • I want to sell my home in 5 years. How much will equity will I build up by then
  • What happens if the value of my home drops? Can I end up owing more than it’s worth?

It doesn’t matter whether you’ve made prepayments in the past, you just need to enter the current balance, the annual interest rate, and your monthly payment. Unlike other home equity loan calculators, this one lets you include your 1st mortgage and your 2nd mortgage. It will work for interest-only mortgages (assuming a constant rate), and if you enter monthly payment larger than the normal amortized monthly payment, it assumes that extra payment is going towards the principal.

Home Equity Line of Credit rates

The Loan Calculator worksheet is very similar to our home mortgage calculator. This is because a home equity loan is just a second standard fixed-rate mortgage, as opposed to HELOC or Home Equity Line Of Credit which is a different thing altogether. The Loan Calculator worksheet creates an amortization schedule and lets you experiment how extra payments can help you pay off loan early and save interest.

Evaluate Bi-Weekly Payment Options

The Home Equity Loan Calculator can be used for estimating interest savings from accelerated bi-weekly payment plans. Normally, making bi-weekly payments on a home equity loan or mortgage is convenience. A lender may offer you in case you want to coordinate your payments with your bi-weekly paycheck. It is also a way to consistently make extra payments to pay off your loan earlier.

Download this Home Equity Loan Calculator template in Excel Format

Our easy to use editable Excel templates and save your significant amount of time and effort. Here’s how to download and use one of our templates:

  1. Download this free Excel Template: Once you’ve browsed through our collection of templates and find the one that best fits your needs. Once you’ve found the template you want, click on the download button.

  2. Replace sample data with your actual data: Once the template is downloaded, open it in Excel. You’ll see that it is already set up with sample data. To start analyzing your own data, simply replace the sample data with your actual data.

  3. Customize the template: Our templates are completely editable, which means you can customize them to fit your specific needs. For example, you can change the formatting, add or remove columns, or create new charts and graphs.

  4. Use the Excel template: Once you’ve fed in your data and customized the template, you’re ready to start using it for data analysis. Use the various tools and features of Excel to analyze and visualize your data, and make informed business decisions.

  5. Save and share: Once you’ve finished working on the template, save it to your computer and share it with other members of your team or stakeholders as needed.

Click Download Button To Get Home Equity Loan Calculator Excel Template

Instruction :

All Excel templates and tools are sole property of xlsxtemplates.com. User can only download and use the excel templates for their Personal use only. All templates provided by XLSX templates are free and no payment is asked. However, you are not allowed to distribute or share in any other website for sole purpose of generating revenue from it.

 You can also download and use our 1000 Best PowerPoint Presentation Templates and 500 Resume Samples from PPTXTemplates.com  Completely Free. All our templates are designed by Professionals

Download Free Editable Excel Templates | Popular Templates

Insurance Quote Template

Insurance Quote

Introduction: Streamlining Insurance Quotations An insurance quote is a vital document in the insurance industry, serving as a preliminary estimate of premiums for potential clients.

Read More »
Freelance Quotation Template

Freelance Quotation

Introduction: Mastering Freelance Quotations In the world of freelancing, creating an effective quotation is crucial for outlining the scope and cost of your services to

Read More »
Fencing Quotation

Fencing Quotation

Introduction: Navigating Fencing Service Quotations A fencing service quotation is an essential tool for businesses in the fencing industry. It provides potential clients with a

Read More »
Event Planning Quote

Event Planning Quotations

Introduction: Excelling with Event Planning Quotations An event planning quote is a critical document for event planners, detailing proposed services and costs for organizing an

Read More »
Construction Quote Template

Construction Quote

Introduction: Optimizing Construction Quotations A construction quote is a fundamental document in the construction industry, serving as a formal proposal of costs for construction services

Read More »
Cleaning Quote

Cleaning Quote

Introduction: Perfecting Cleaning Service Quotations Creating an effective cleaning service quotation is crucial in the cleaning business. It serves as a formal proposal outlining the

Read More »

Free editable professional Excel templates can be a useful tool for businesses, organizations, and individuals looking to streamline their data management and reporting processes. These templates can provide a pre-designed and pre-formatted framework for storing and organizing data, as well as for creating charts, graphs, and other visualizations to help communicate that data more effectively.

One advantage of using professional Excel templates is that they are often designed by experienced professionals who understand best practices for data management and visualization. This means that the templates are likely to be well-organized, easy to understand, and aesthetically pleasing, which can make working with them more efficient and enjoyable.

Another advantage is that these templates are often fully editable, allowing users to customize them to meet the specific needs of their organization or project. This can include adding or deleting rows and columns, changing the formatting and layout, and adding custom formulas and functions.

Some examples of professional Excel templates that may be available for free include budgeting templates for personal or business use, project management templates for tracking tasks and deadlines, and sales tracking templates for analyzing and forecasting sales data. There are also a wide variety of templates available for specific industries, such as real estate, marketing, human resource, Payroll management and among others.

Overall, free editable professional Excel templates can be a valuable resource for anyone looking to improve their data management and analysis skills. By providing a pre-designed and customizable framework for storing, organizing, and visualizing data, these templates can help users save time and make more informed decisions.