Mortgage formula

I have an excel spreadsheet for loans and such, but I need a formula to calculate the amount of a loan with $xxx.xx amount of a payment.

I’ve been using the normal one, plugging in the Loan Amount and adjust until I find the amount I can afford.

I’d like to just plug in payment, apr, years and get the loan amount.

Any help?

Miscrosoft office has such a template.


I have that template, and it works well for calculating P&I. I need one to work backwards…I give it the payment,interest rate, and length of loan and it gives me Loan Amount.

I’ve verified the MS template on several mortgage sites also…so I know that part works.

In essence what you want is a pre-qualification work sheet with the exception that you have defined what it is you can afford…So download the prequal template and then change the acceptable debt ratios

   [b]A                  B[/b]

1 Data Description
2 500 Monthly Payment
3 7% Interest rate.
4 10 Years

=ABS(PV(A3/12, 12*A4, A2, , 0))

Just in case anyone wants it.

yep…thanks for you help