How to Add PMI to a mortgage calculator if the down payment is less than 20%

[realestateexcel]

Hi,

I am looking for some help. I am looking to have PMI automatically generate in the red PMI location if the loan amount is less than 20%


I think I would use an If function for this but I have not used excel in this capacity for 10 years and I am a little rusty.

In theroy what I am looking to have written is.
( If the percent sign in CellA1 is more than 20% you return 0. If the percent in cellA1 is below 20% you return .085 X (Loan amount cell A2)

[TABLE="width: 552"]
<colgroup><col span="8"></colgroup><tbody>[TR]
[TD] [/TD]
[TD] [/TD]
[TD]Down Payment[/TD]
[TD]First Mortgage[/TD]
[TD] [/TD]
[TD]Total[/TD]
[TD]Stabilized[/TD]
[TD]Custom[/TD]
[/TR]
[TR]
[TD]Amount[/TD]
[TD][/TD]
[TD]$125,000[/TD]
[TD]$375,000[/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD] [/TD]
[/TR]
[TR]
[TD]%[/TD]
[TD][/TD]
[TD]25%[/TD]
[TD]75%[/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD] [/TD]
[/TR]
[TR]
[TD]Rate[/TD]
[TD][/TD]
[TD][/TD]
[TD]4.50%[/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD] [/TD]
[/TR]
[TR]
[TD]Amortization[/TD]
[TD][/TD]
[TD][/TD]
[TD]30[/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD] [/TD]
[/TR]
[TR]
[TD]Principal[/TD]
[TD][/TD]
[TD][/TD]
[TD]$6,050[/TD]
[TD][/TD]
[TD]$6,050[/TD]
[TD]$6,050[/TD]
[TD]$6,050[/TD]
[/TR]
[TR]
[TD]Interest[/TD]
[TD][/TD]
[TD][/TD]
[TD]$16,751[/TD]
[TD][/TD]
[TD]$16,751[/TD]
[TD]$16,751[/TD]
[TD]$16,751[/TD]
[/TR]
[TR]
[TD="colspan: 2"]Total Debit Services[/TD]
[TD][/TD]
[TD]$22,801[/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD] [/TD]
[/TR]
[TR]
[TD="colspan: 2"]Monthly debit services[/TD]
[TD][/TD]
[TD]$1,900[/TD]
[TD][/TD]
[TD]$22,801[/TD]
[TD]$22,801[/TD]
[TD]$22,801[/TD]
[/TR]
[TR]
[TD]PMI[/TD]
[TD][/TD]
[TD][/TD]
[TD]PMI[/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD] [/TD]
[/TR]
[TR]
[TD]Cash Flow[/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[TD]-$22,801[/TD]
[TD]-$22,801[/TD]
[TD]-$22,801[/TD]
[/TR]
[TR]
[TD="colspan: 2"]Principal Reduction[/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD]$6,050[/TD]
[TD]$6,050[/TD]
[TD]$6,050[/TD]
[/TR]
[TR]
[TD]Total Return[/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[TD] [/TD]
[TD]($16,751)[/TD]
[TD]($16,751)[/TD]
[TD]($16,751)[/TD]
[/TR]
</tbody>[/TABLE]

 

[Nine Zero]

maybe something like this

=IF(A1>20%,0,A2*.85)