In this article, we will learn about **Excel Formula **for** 30 Year Fixed Mortgage**. Here we will use several formulas related to 30 Year Fixed Mortgage. We will learn how to find out the amount to be paid per installment & total **Mortgage **amount.

Here we have a dataset having general information on Fixed Mortgage like** Loan Amount**, **Annual Interest Rate**, **Loan Tenure**, **Total Number of Payments**. Using this dataset we will find out per installment payment & total payment.

**Table of Contents**hide

## Download Practice Workbook

## 3 Ways to Use Formula for 30 Years Fixed Mortgage in Excel

### Method 1. Calculating Per Installment Payment for 30 Years Fixed Mortgage Using PMT Formula

In this method, we will see how to **Calculate **the per installment payment of a **Fixed Mortgage**. We will use **PMT** **formula** to calculate this.

**Steps:**

- Select the
**Cell**where you want to**Calculate**your per installment Payment. - I have selected
**Cell C9**. - Here type the
**PMT formula**.

**=PMT(C5/C6,C8,C4,0)**

**C5**denotes

**Rate of Interest**in

**Percentage**,

**C6**is the

**installment Per Year**.

**C8**indicates the

**Total Number of installments**.

**C4**is the

**Total Principal loan amount**.

**Zero**is the

**function argument**.

- Now upon pressing
**ENTER**it will return the amount per installment payment of**Fixed Mortgage**.

**Read More: Mortgage Calculations with Excel Formula (5 Examples)**

### Method 2. Calculating Total Payment for 30 Years Fixed Mortgage

In this part, I will show you how to Calculate the total payment for **30 Years Fixed Mortgage**.

**Steps:**

- First, select a
**Cell**where you want to see your**total payment**. - I have selected
**Cell C10**. - Now we will use simple
**Multiplication formula**to calculate the**Total payment**. - Multiply the value of
**Payment Per Installmen**t with**Total Number of Payment**. - Here I have multiplied
**Cell C8**&**C9**having those data.

`=C8*C9`

- Now upon clicking
**ENTER**you will find the out**Total Payment**amount.

### Method 3. Find out the Payment Per Installment for 30 Years Fixed Mortgage Manually

In this method, we will find out the payment per installment for a 30 Years** Fixed Mortgage** using a series of Formulas.

**Steps:**

- To find out manually remember to write down the
**Annual Interest Rate**in**Cell C5**using**only numbers**, do**not**use the**Percentage format**.

- Then click on
**Cell C7**and type the formula.

`=C5/1200`

- Press
**ENTER**and this formula returns the**Monthly Interest Rate**in decimals.

- Now select
**Cell C8**and Type the formula.

`=(1+C7)^C6`

- Now, press
**ENTER,**and this will**compound**the interest rate for**30 Years**span of**Fixed Mortgage**.

- Upon pressing
**ENTER**we will get the value.

- Now select
**Cell C9**to calculate the**Multiplier**. - Type the Formula.

`=(C8*C7)/(C8-1)`

- Here, press
**ENTER**, and this formula will return a Multiplier in**Cell C9**.

- Finally, select
**Cell C10**where you want to calculate**Amount Per Installment**. - Type the formula.

`=C9*C4`

- Again, press
**ENTER**and this formula will multiply the**Principal Amoun**t with the**Multiplier**& return the desired**Amount Per Installment**.

- Now using the
**Currency**format turn**Cell C10**value into**Currency**& see the**Amount Per Installmen**t for**30 Year Fixed Mortgage**.

## Practice Workbook

We have provided you with a practice worksheet. Do it yourself.

## Conclusion

In the article above we have learned **Excel Formula** for **30 Year Fixed Mortgage**. Now you can easily calculate your loan amounts. If you have any further questions, leave us a comment.

**Further Readings**

**Interest Only Mortgage Calculator with Excel Formula (A Detailed Analysis)****How to Use Formula for Mortgage Principal and Interest in Excel****Loan Amortization Schedule with Variable Interest Rate in Excel****Excel Interest Only Amortization Schedule with Balloon Payment Calculator****How to Use Formula for Car Loan Amortization in Excel (with Quick Steps)****Mortgage Repayment Calculator with Offset Account and Extra Payments in Excel****Creation of a Mortgage Calculator with Taxes and Insurance in Excel**