Mortgage Loan Model, with ad-hoc extra Repayments

Version 1.1
Requires BF 1.25+

For loan mortgages

You can insert extra rows , so long as you copy the formula down ACROSS the region where you inserted the rows.
Features: Partial first period capability, Business Day Capability, any form of interest daycount, multiple ad hoc repaymnets

Inputs:
Loan Amount
Fees added to loan amount
Fees charged separately
Draw Date
Number of Payments
Interest Rate per annum
Final Loan Balance Sought
DayCount

100,000
1,000
1,000
3 Jan 05
120 Pmts
6.00% p.a.
3.00
Actual Days/365.

If you want to adjust for Business

Days: Try the following. Insert '20' into
the first spare field in the interest periods
and make sure DrawDate (cell E12) is a
Business Day. Watch the spreadsheet
adjust your payment days for weekends!

Interest
Periods (mm.dd)
-12.00

10.00 years

Outputs:
Regular Payment
Effective Interest Rate (AER) excl fees
APR/AER incl fees (UK Definition)
APR (US/Int'l Definition)
Final Repayment Date
Final Loan Balance Calculated

DayCount: Describes how the bank calculates its interest. You

may need to consult the Business Functions Help File for more
information. The most common options are 3 (Actual/365), 0
(30/360) and 6 (ACT/ACT in period).

Extra (One-Off)
Date
1 Apr 05
1 Apr 07

(1,121)
6.17%
6.73%
6.80%
1 Jan 15
0

Capital Repayments:
Payment
Num Prds
(10,000)
117.00
(10,000)
93

Act/365 basis
Act/365 basis
#########
Thursday

Change In
Reg. Pmt
113
135

Interest Periods: Describes when interest is calculated (accrues).

You may need to consult the Business Functions Help File for
more information. Basically, -12 means monthly in arrear, -4
means quarterly in arrear, etc. You can also specify a series of
values in mm.dd format, for example -3.10, -9.10 means biannually in arrear on 10th March and 10th of September.

in arrear, monthly (1 Jan payment of Dec accrual, etc) No Business Days: no days excluded
Note: The cashflow below is actually just a check to demonstrate the
solution. All the work is actually done in a single function calls, in cells
K10 and L18:L29.
Note that the first interest period
can be a PARTIAL period, as in the
example.

3 Jan
1 Feb
1 Mar
1 Apr
1 May
1 Jun
1 Jul
1 Aug
1 Sep
1 Oct
1 Nov
1 Dec
1 Jan
1 Feb
1 Mar
1 Apr
1 May
1 Jun
1 Jul
1 Aug
1 Sep
1 Oct
1 Nov
1 Dec
1 Jan
1 Feb
1 Mar
1 Apr
1 May
1 Jun
1 Jul
1 Aug
1 Sep
1 Oct
1 Nov
1 Dec
1 Jan
1 Feb
1 Mar
1 Apr
1 May
1 Jun
1 Jul
1 Aug
1 Sep
1 Oct
1 Nov
1 Dec
1 Jan
1 Feb
1 Mar
1 Apr
1 May
1 Jun
1 Jul
1 Aug
1 Sep
1 Oct
1 Nov
1 Dec
1 Jan
1 Feb
1 Mar
1 Apr
1 May
1 Jun
1 Jul
1 Aug
1 Sep
1 Oct
1 Nov

05
05
05
05
05
05
05
05
05
05
05
05
06
06
06
06
06
06
06
06
06
06
06
06
07
07
07
07
07
07
07
07
07
07
07
07
08
08
08
08
08
08
08
08
08
08
08
08
09
09
09
09
09
09
09
09
09
09
09
09
10
10
10
10
10
10
10
10
10
10
10

Interest
(481)
(462)
(508)
(439)
(451)
(434)
(445)
(442)
(425)
(437)
(420)
(431)
(428)
(384)
(422)
(405)
(416)
(399)
(409)
(406)
(390)
(400)
(384)
(394)
(391)
(350)
(384)
(320)
(327)
(314)
(322)
(319)
(306)
(313)
(300)
(307)
(305)
(282)
(299)
(286)
(293)
(280)
(287)
(284)
(272)
(278)
(266)
(272)
(268)
(240)
(262)
(251)
(256)
(245)
(250)
(246)
(235)
(240)
(229)
(233)
(230)
(205)
(223)
(213)
(217)
(207)
(210)
(207)
(197)
(200)

Illustrative Cashflow
SubTotal
Loan
Fees
Payment
101,000
101,000
(2,000)
(639)
(1,121)
(659)
(1,121)
(10,613)
(11,121)
(568)
(1,008)
(557)
(1,008)
(574)
(1,008)
(562)
(1,008)
(565)
(1,008)
(582)
(1,008)
(571)
(1,008)
(588)
(1,008)
(577)
(1,008)
(580)
(1,008)
(624)
(1,008)
(586)
(1,008)
(603)
(1,008)
(592)
(1,008)
(609)
(1,008)
(598)
(1,008)
(601)
(1,008)
(618)
(1,008)
(608)
(1,008)
(624)
(1,008)
(614)
(1,008)
(617)
(1,008)
(658)
(1,008)
(10,624)
(11,008)
(554)
(873)
(546)
(873)
(559)
(873)
(551)
(873)
(554)
(873)
(567)
(873)
(560)
(873)
(573)
(873)
(566)
(873)
(569)
(873)
(591)
(873)
(574)
(873)
(587)
(873)
(580)
(873)
(593)
(873)
(586)
(873)
(589)
(873)
(601)
(873)
(595)
(873)
(607)
(873)
(602)
(873)
(605)
(873)
(633)
(873)
(611)
(873)
(622)
(873)
(617)
(873)
(628)
(873)
(624)
(873)
(627)
(873)
(638)
(873)
(633)
(873)
(644)
(873)
(640)
(873)
(643)
(873)
(668)
(873)
(650)
(873)
(660)
(873)
(656)
(873)
(667)
(873)
(663)
(873)
(666)
(873)
(676)
(873)
(673)
(873)
Principal

Total

Closing
Balance

CashFlow
For US APR

99,000
(1,121)
(1,121)
(11,121)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(11,008)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)

101,000
100,361
99,702
89,089
88,520
87,963
87,389
86,827
86,262
85,679
85,108
84,520
83,943
83,363
82,738
82,152
81,550
80,957
80,349
79,750
79,149
78,531
77,924
77,300
76,686
76,069
75,412
64,788
64,234
63,689
63,130
62,578
62,024
61,457
60,897
60,324
59,759
59,190
58,599
58,025
57,438
56,858
56,265
55,679
55,089
54,488
53,892
53,285
52,684
52,079
51,446
50,835
50,212
49,595
48,967
48,343
47,716
47,079
46,445
45,801
45,162
44,519
43,851
43,201
42,541
41,885
41,218
40,555
39,889
39,212
38,539

98,000
(1,121)
(1,121)
(11,121)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(1,008)
(11,008)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)

1 Dec
1 Jan
1 Feb
1 Mar
1 Apr
1 May
1 Jun
1 Jul
1 Aug
1 Sep
1 Oct
1 Nov
1 Dec
1 Jan
1 Feb
1 Mar
1 Apr
1 May
1 Jun
1 Jul
1 Aug
1 Sep
1 Oct
1 Nov
1 Dec
1 Jan
1 Feb
1 Mar
1 Apr
1 May
1 Jun
1 Jul
1 Aug
1 Sep
1 Oct
1 Nov
1 Dec
1 Jan
1 Feb
1 Mar
1 Apr
1 May
1 Jun
1 Jul
1 Aug
1 Sep
1 Oct
1 Nov
1 Dec
1 Jan
1 Feb
1 Mar
1 Apr
1 May
1 Jun
1 Jul
1 Aug
1 Sep

10
11
11
11
11
11
11
11
11
11
11
11
11
12
12
12
12
12
12
12
12
12
12
12
12
13
13
13
13
13
13
13
13
13
13
13
13
14
14
14
14
14
14
14
14
14
14
14
14
15
15
15
15
15
15
15
15
15

(190)
(193)
(189)
(168)
(182)
(173)
(175)
(166)
(168)
(165)
(156)
(157)
(149)
(150)
(146)
(133)
(139)
(131)
(131)
(123)
(124)
(120)
(112)
(112)
(105)
(104)
(100)
(87)
(92)
(86)
(84)
(78)
(76)
(72)
(66)
(64)
(58)
(56)
(52)
(43)
(43)
(38)
(35)
(30)
(26)
(22)
(17)
(13)
(9)
(4)

(683)
(680)
(684)
(705)
(691)
(700)
(698)
(707)
(705)
(709)
(717)
(716)
(724)
(723)
(727)
(740)
(734)
(742)
(742)
(750)
(749)
(753)
(761)
(761)
(768)
(769)
(773)
(786)
(781)
(787)
(789)
(795)
(797)
(801)
(807)
(809)
(815)
(817)
(821)
(830)
(830)
(835)
(838)
(844)
(847)
(851)
(856)
(860)
(865)
(869)

(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)

(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)

37,856
37,176
36,492
35,787
35,097
34,397
33,699
32,992
32,287
31,578
30,861
30,145
29,421
28,698
27,971
27,231
26,497
25,755
25,013
24,263
23,514
22,760
22,000
21,239
20,470
19,701
18,929
18,143
17,362
16,575
15,786
14,991
14,194
13,394
12,587
11,778
10,963
10,145
9,324
8,494
7,664
6,829
5,991
5,147
4,300
3,449
2,593
1,733
869
0
0
0
0
0
0
0
0

(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)
(873)