How To Make/Create Refinance Mortgage Calculator Templates in Google Sheets

Build a Refinance Mortgage Calculator Template in Google Sheets – Step-By-Step Instructions

Google Sheets empowers you to meticulously calculate various expenses involved in refinancing a mortgage, including new mortgage payments, loan repayment schedules, cash-out refinance rates, loan amortization, and closing costs. Using a calculator template simplifies the process of comparing and estimating refinances, as outlined in the following steps:

• Step 1: Choose a Refinance Mortgage Calculator Template

  Discover and download customizable and printable refinance mortgage calculator templates from Template.net. These templates provide a standard format, layout, and design, eliminating the need to create a calculator from scratch. Select the one that best fits your needs for a streamlined experience.

• Step 2: Select the Google Sheets Format

  

  To access the refinance mortgage calculator in Google Sheets format, simply click on “Google Sheets”. If you prefer working in Microsoft Excel, you have the option to select the “Excel” version for future use.

• Step 3: Write the Basic Mortgage Details

  

  Navigate to the Mortgage section and begin editing. Here, you can modify not only the labels or category names but also the values in each category. To make changes, click on any cell under the Original or Refinance columns and enter new values, such as the start date, initial value, interest paid to date, and total interest payable, using your keyboard.

• Step 4: Log the Refinance Options

  

  Customize the content under Refinance Options to record new loan fees, total closing cost, interest rate, principal amount, the difference from the original payment, additional monthly payment, and more. As before, click on the relevant editable cell to input the updated values for the calculator, enhancing its accuracy and relevance to your specific scenario.

• Step 5: Check the Formula Bar to Study Calculations

  

  Master the various formulas in the Savings Analysis section of your Google Sheets refinance mortgage calculator, as each category incorporates a specific formula. Simply click on any cell within the table to reveal formulas such as the maximum interest payable and savings in comparison to the original mortgage plan. You can view these formulas in the formula bar at the top of your screen for easy reference and understanding.

• Step 6: Input New Rows and Columns

  

  The tables in your refinance mortgage calculator template are fully customizable. You can effortlessly add new rows and columns to accommodate additional information. To do this, right-click on a cell and choose an action, like “Insert 1 row above”, depending on your specific needs.

• Step 7: Rectify the Values and Add Emphasis

  

  Input remaining details such as the refinancing loan amount, the interest rate of the existing mortgage, the loan term in years of the existing mortgage, the existing monthly payment, the new interest rate considered for refinancing, and the new loan term in years for refinancing. To emphasize crucial information, use color highlighting by selecting a cell, clicking the Fill color icon, and choosing your desired color. This not only makes your template more visually appealing but also helps in quickly identifying key data points.

• Step 8: Print the Template in Google Sheets

  

  To obtain a physical copy of your spreadsheet, navigate to “File” in the menu and select “Print”. This printed copy can serve as a convenient reference. Additionally, explore and optimize other related templates for financial calculations available on Template.net. These include a free refinance calculator, home equity loan calculator, personal loan refinance calculator, refinance car calculator, etc. These resources are invaluable for a comprehensive understanding and management of your financial scenarios.