Using Google Sheets to Determine Mortgage Information

Abstract

Google Sheets, a spreadsheet software similar to Microsoft’s Excel software, is available to anyone who has a Gmail account. Gmail is available for free by Google and allows users to have access to Google’s Drive, which contains Google Sheets. With very little programming, one can compute many different aspects of a mortgage, given knowledge of three out of the four possible mortgage inputs (i.e., loan amount, monthly payment, maturity, interest rate). It does not matter which three inputs are supplied—the spreadsheet will produce the missing fourth item.

TOPIC: MBS and residential mortgage loans