Variable Mortgage Offset Calculator Spreadsheet
Budget: $30 – $250 AUD
I need a spreadsheet that lets me model a variable-rate loan while taking a real-world offset account into account. It has to be clear and easy enough for individual borrowers like me to use every month, yet precise in the way it handles interest calculations. The LAS spreadsheet provided in excel can be used as a reference for the layout and requirements.
Core capabilities
• Variable rate mortgage support – I must be able to enter different interest rates for specific date ranges and see the schedule update instantly.
• Offset facility – the balance sitting in the offset account should reduce the daily interest calculation. I want the offset amount itself to be changeable period by period so I can see the impact of moving money in or out.
• Extra repayments – I need a simple place to enter additional, irregular payments of any size and date, with the sheet showing the shortened loan term and interest saved.
What I expect to see
1. An input area where I enter loan details (principal, term, start date, introductory or later rates, etc.).
2. A clear table or chart that displays the full amortisation schedule, beginning balance, ending balance, scheduled payment, extra payment, total payment, principal, interest and cumulative interest and the offset balance.
3. A summary section highlighting total interest paid, interest saved through the offset, and how much sooner the loan is paid off when I make extra repayments.
Excel formulas are required.
If you have suggestions for a sleeker layout or additional insights (e.g., yearly summaries, graphs), feel free to build them in.
Please let me know how you plan to structure the workbook and roughly how long you’ll need; I’m ready to move ahead as soon as we agree on scope and timeline.
Core capabilities
• Variable rate mortgage support – I must be able to enter different interest rates for specific date ranges and see the schedule update instantly.
• Offset facility – the balance sitting in the offset account should reduce the daily interest calculation. I want the offset amount itself to be changeable period by period so I can see the impact of moving money in or out.
• Extra repayments – I need a simple place to enter additional, irregular payments of any size and date, with the sheet showing the shortened loan term and interest saved.
What I expect to see
1. An input area where I enter loan details (principal, term, start date, introductory or later rates, etc.).
2. A clear table or chart that displays the full amortisation schedule, beginning balance, ending balance, scheduled payment, extra payment, total payment, principal, interest and cumulative interest and the offset balance.
3. A summary section highlighting total interest paid, interest saved through the offset, and how much sooner the loan is paid off when I make extra repayments.
Excel formulas are required.
If you have suggestions for a sleeker layout or additional insights (e.g., yearly summaries, graphs), feel free to build them in.
Please let me know how you plan to structure the workbook and roughly how long you’ll need; I’m ready to move ahead as soon as we agree on scope and timeline.