Reverse Mortgage Calculator (Sheet): Parameter Name · Value · Description · Monthly Payment · 1677.45 USD · The target monthly payment the borrower can afford…
| A | B | C |
|---|---|---|
| Parameter Name | Value | Description |
| Monthly Payment | 1677.45 USD | The target monthly payment the borrower can afford |
| Interest Rate | 3.8 % | The annual interest rate |
| Loan Term | 30 years | The duration of the mortgage loan |
| Monthly Interest Rate | =B3 / 12 | The annual interest rate divided by 12 |
| Total Months | =B4 to month | The total number of monthly payments |
| Loan Amount | =B2 * ((1 + B5)^(B6 / 1 month) - 1) / (B5 * (1 + B5)^(B6 / 1 month)) | The maximum loan amount calculated from the target payment |
| Down Payment Rate | 20 % | The down payment percentage |
| Home Price | =B7 / (1 - B8) | The total home purchase price supported by this loan |
| Down Payment | =B9 * B8 | The down payment amount required |