Comprehensive Mortgage Calculator - Spreadsheet Alternative

C

carllarz

Hi everybody.

I am new to this site, and the content in these forums is exactly what I was hoping to find.

A few years back I spent months trying to collaborate Mortgage Spreadsheets that i had downloaded/was given/bought etc. to be able to create one that would allow me to view amortised results, whilst adding fixed interest, interest only terms, extra repayments and an offset facility.... with the terms for these features being able to start and finish at any point during the Loan.
I wanted to create this to calculate how much interest and time I could save with different scenarios across my investment portfolio... and basically get a good estimate as to how long it would be before I would have enough equity for my next purchase.

I did a pretty good job... but sadly, I wasn't clever enough to complete this myself :), nor could I find such a spreadsheet anywhere.

So I thought, surely there must be more people who have tried to create something similar?
I discovered that I wasn't alone, so I founded the website www.loansource.com.au and have created an online tool which does all of this, plus uses historical 20yr capital growth data (australia) to help calculate potential equity and much much more.

This is a website nearly 3 years in development and has had a great response from Amateur Investors and Home Owners alike.

I would like to share the tool with all of you :)

I hope you enjoy it, if you have any suggestions as to how it could be improved....chances are it is already in the pipeline, but then again.. maybe not?
I would love to hear any suggestions :)
 
Thanks Redwing... this was one of the first spreadsheets I bought!

Definitely one of the better ones for calculating taxation and returns... but not quite what my website achieves in terms of calculations, and changes to the Loan.

However overtime we will be implementing similar features on our website :)
 
I went to register and it won't accept my name (only four letters in my first name). Seems a little restrictive?!
 
OK great - thanks. I'll be interested to have a play with the loan calculator over the weekend; it looks useful. Cheers
 
Great JOB

Hi carllarz.

I had a look and signed up.
Heres my feedback for u

POSITIVE:
* Compare Loans, after i signed up
* Calculate Stamp Duty, LMI, Grants (do you know how hard it is 2 find all of this stuff in one place?? And then you take this and bring it back to the Loan Amount.. brilliant!
* Choosing the purchase suburb so that it calculates capital growth. brilliant idea, didnt see it anywhere else. One question... where does this data come from? is it from a reliable source? would probably pay to mention it on the site.
* As you mentioned, Can put extra payments starting and finishing anytime during the loan. this is perfect.

NEGATIVE:
* Took me a little time to get my head around it... maybe a tutorial??
* Not sure of all of the features, kept stumbling across more

OVERALL:
* Highly recommended, ill keep using it for sure
* Keep upgrading, would love to see new features, including taxable benefits depreciation etc.... will you send out new features in the newsletter that i signe d up for??
 
miguelh said:
Hi carllarz.

I had a look and signed up.
Heres my feedback for u

POSITIVE:
* Compare Loans, after i signed up
* Calculate Stamp Duty, LMI, Grants (do you know how hard it is 2 find all of this stuff in one place?? And then you take this and bring it back to the Loan Amount.. brilliant!
* Choosing the purchase suburb so that it calculates capital growth. brilliant idea, didnt see it anywhere else. One question... where does this data come from? is it from a reliable source? would probably pay to mention it on the site.
* As you mentioned, Can put extra payments starting and finishing anytime during the loan. this is perfect.

NEGATIVE:
* Took me a little time to get my head around it... maybe a tutorial??
* Not sure of all of the features, kept stumbling across more

OVERALL:
* Highly recommended, ill keep using it for sure
* Keep upgrading, would love to see new features, including taxable benefits depreciation etc.... will you send out new features in the newsletter that i signe d up for??
Click to expand...


Hi miguelh
I am glad you find the site useful.
There is an interactive tutorial in the pipeline and yes the new features will be sent out in the newsletter.

The data is sourced from Residex Resi-Spreads so it is as reliable as you can possible get. This is referenced on the site once your basic calculation results are populated :)

Being able to calculate stamp duty, LMI & grants and have this reflected in the Loan Amount is definitely a big feature of this calculator.
Knowing how much deposit you have and the purchase price of a property, this will allow you to calculate fairly accurately what your loan amount would be.

Thanks for the feedback!
 
Anybody else had a look that can provide any personal feedback?

Carl L

_______________________________________________________
www.loansource.com.au | Comprehensive Loan Mortgage Calculator.
Extra Payments, Stamp Duty, Capital Growth, LMI, Compare Loans, Amortisation, Graphs, Time & Interest Saved & Much Much More !!
 
I liked it , especially since feeling around learning. i was wondering if it could work by the type of mortgage i have. basically mortgage and all income goes into it...on the 1st of each month it calculates the repayment...so more money you have in it, less repayment. Allows you to build up equity , and on the 2nd of each month..all monthly bills and living allowances etc...income goes in, pretty simple. But it only works to be disciplined...but it is interesting
 
Wow, this looks excellent. One of the best calculators I have seen. Pity our aggregator calculator doesn't compare to this - hope you sign up some licencing agreements with a few of the aggregators.
 
carllarz said:
Anybody else had a look that can provide any personal feedback?
Click to expand...

Hi Carl,

How about a feature where a registered user can save all separate loans entered? That way an investor can keep track of their overall loan portfolio and come back from time to time, without having to start from scratch.
 
Somersoft has been archived - you can continue the discussion at PropertyChat

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