Loan Amortization Schedule (Excel)
Every payment of a mortgage, car or personal loan split into principal and interest, with extra payments and the interest they save.
What's inside
One workbook, in Excel + Google Sheets. A full loan amortization schedule in Excel, with extra payments built in:
- Start here: four steps and what the colors mean.
- Dashboard: monthly payment, payoff date, total interest and the interest your extra payments save, with charts of the balance and of principal against interest.
- Loan: loan amount, interest rate, term and first payment date, an extra amount every month, and up to 10 one-time extra payments.
- Schedule: every payment for up to 40 years, split into interest, principal and extra, with the balance after each one. It stops cleanly on the last payment.
- Yearly: principal, interest, extra and ending balance for each year.
- Sample check: a sample mortgage with the answers worked out separately. Every row shows ✓ when the formulas are right.
Works for a mortgage, a car loan, a student loan or a personal loan with a fixed rate.
Who it's for
A good fit if you
- Want to see where each payment goes and what you will still owe on any date.
- Are deciding whether to pay extra on a mortgage or car loan, and want the months and interest saved in black and white.
- Are comparing loan offers with different rates and terms.
Not for you if you
- Have an adjustable-rate or interest-only loan and need the payment to change over time.
- Need advice on whether to pay off debt or invest. That is a question for a financial adviser.
How it works
- Open the file. It comes filled with a sample $320,000 mortgage at 6.75%.
- Check the sample. Open Sample check and see every row show ✓.
- Type in your own loan. Change the yellow cells on Loan. Try an extra payment and watch the payoff date move on the Dashboard.
Questions
Does it work in Excel and Google Sheets?
Yes. You get an Excel file (.xlsx) and a Google Sheets version. The schedule uses only functions both programs have, such as PMT, so the numbers match.
Can I add extra payments?
Yes. Set an extra amount to pay every month, add up to 10 one-time payments (a bonus or a tax refund, for example) at the payment number you choose, or both. The Dashboard shows the months and interest saved compared with no extra payments.
Will it match my lender's statement?
Very closely. Lenders sometimes round interest each month or count days, which can move totals by a few dollars over a long loan. The schedule shows the standard monthly method.
Does it include property tax and insurance?
No. The payment is principal and interest only, like a standard amortization schedule. Escrow for tax and insurance is extra on top.
How long a loan can it handle?
Up to 40 years of monthly payments, so 15-year and 30-year mortgages, 3 to 7-year car loans and anything in between fit.
Can I get a refund?
Yes. If the template does not work for you, email [email protected] within 30 days of buying and you get your money back. See the refund policy.
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Disclaimer. For general information only. Not tax, legal or financial advice. Check the rules for your country or ask a qualified adviser. Read the full disclaimer.