How to make simple (?) mortgage payment comparisons

Factual Questions
1

We have a $230,000 principal balance on our mortgage.
The interest rate is 5 percent.

We’re trying to figure out the long-term effects of a few different things—making a large payment (e.g. $50,000) towards the principal, making higher monthly payments, and making bi-monthly payments.

I’ve seen a few calculators on the net that seem to answer the questions individually, but not the cumulative effects of doing all three.

As a complication, the higher payment amount we’re planning on making is related to our household budget. We figure we can easily pay $2,700 per month in mortgage—if we’re comparing the do-nothing scenario to the $50,000 (voluntary) balloon payment, the amount of the monthly extra payment will vary.

Is there a calculator out there that I’ve missed? A simple Excel template?
Thanks,

Rhythm

2

I use this one. Pretty sure it does everything you ask it to do.

3

I posted a link to a great Excel spreadsheet here a few years ago. Do a search under my user name and mortgage and you should be able to find it.

4

I just made my own on an Excel sheet. Not real hard to do.

5

OK, I’m pretty sure this is it (direct link to spreadsheet).