need a function to calculate a mortgage payment
 

The PMT function should work just fine, with a couple of caveats. Assuming
you've set the number of payments (NPER) to the number of months, you need to
adjust your interest rate accordingly (eg: not 6%, but 6%/12). You'll also
want to put a minus sign on the PV argument. Ex: a 30 year loan at 6.5% for
$145000: =PMT(6.5%/12,360,-145000). If you can't get the function to behave
as you expect, post the terms and the formula you're using. (Also, remember
that your total payment will probably include taxes and insurance, which
won't be captured in this formula).
--Bruce

"JSEVonda" wrote:

Does anyone have a function to calculate a amortized mtg payment. I tried to
use the pmt function, and it came out all wrong. Have tried many different
iterations of the numbers, and they still do not come out to be same as my
Loan Officer Point software indicates the answer should be.

I need to put this function calulation in an excel spreadsheet.

Thanks