Write an excel spreadsheet to amortize a general ARM. Make sure that your program can handle

Different interest rate caps (periodic, lifetime and initial rate increase. This also means your program will be able to handle fixed rate mortgages) [1/4/2];

Payment caps (with neg am cap; assume once this is hit, the loan becomes amortizing according to 5 below) [10%, 120%];

Different reset periods. While the index should be recomputed monthly, the reset should be specified in years (see also 6 below) [1];

Different mortgage terms (up to 360 months) [180];

Different amortization terms [360];

Differing hybrid types (1/1, 3/1, 5/1, etc.), along with the rate for the fixed interest rate periods [3/1, 3.5%];

Differing initial index rate [Use index path in attached].

The inputs above (along with the margin [2.5%] and loan amount [100k]) must be taken from a separate input sheet. That is, if I change any of the terms above in one input cell on the input tab, the amortization schedule (CF sheet) should correctly re-compute without having to alter anything in the CF amortization sheet.

(For this part of the project) use the sample index path as given in the accompanying file “InterestRatePath2Use.xlsx.”

 

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