So, we have attained all of the values for Payment No. L5 is the Balance for the previous payment, J6 is the Principal Value and K6 is the Extra Amount. ➤ Now, we will get the amount of payment for the first payment using the following formula Step-05: Calculation for Payment Schedule to Create a Mortgage Calculator with Taxes and Insurance You can enter different extra amounts you want to pay on some fixed dates like below. ➤ We will link up the value of cell L5 with the Mortgage Amount in cell D4. column enter the serial numbers starting from zero. In this way, we will get the dates for the cells up to which we will drag our Fill Handle tool. ➤ Select the two dates and drag down the Fill Handle tool. And, the second date will be the date after one month of the previous date on which you will make your first payment. ➤ Enter the first date as the date on which you took the loan. In this step, we will prepare our Payment Schedule. Step-04: Entering Basic Inputs in Payment Schedule We have divided the yearly taxes and insurance value by 12 to get the monthly values. Here, D9 is the Monthly Payment, D12 is the Yearly Taxes and D13 is the Yearly Insurance.
