Loan Amortization Schedule in Excel with Extra Payments & Refinance Comparison

Loan Amortization Schedule is an amortization table in Excel for a mortgage, home loan, car loan, student loan or business loan. Enter the amount, annual rate, term, payment frequency and first payment date once, and the schedule lists every payment with its date, rate, interest, principal, extra payment and remaining balance. Monthly, semi-monthly, bi-weekly, weekly, quarterly, semi-annual and annual payments are supported, for up to 1,560 payments.

Choose a fixed payment, as on most mortgages, or fixed principal, where the same principal is repaid each time and payments fall. Add interest-only payments at the start or a balloon at the end. For a variable or adjustable rate, list the dates and new rates, and choose whether the payment is recalculated over the remaining term or kept the same so the loan runs longer.

Extra payments are where the savings show. Add an extra amount with each payment, every few payments, or between two payment numbers, an annual lump sum in the month you choose, and up to 12 one-off payments by date. The workbook runs the loan with and without the extras side by side, showing the interest saved, the payments saved, the new debt-free date and how much you owe each year in both cases.

The Refinance tab compares the rest of your current loan with a new loan from any payment number, including closing costs and points paid in cash or added to the loan. It shows the new payment, the saving per payment, the break-even point, total interest and the total still to pay, with a plain-language verdict. Compare Offers puts three loan quotes side by side with payment, total interest, fees, points, APR and total cost of borrowing.

The Dashboard shows the payment, total interest, interest saved, the debt-free date, a balance chart and principal against interest by year, while the Annual Summary gives a loan repayment schedule by year. An APR estimate including fees is shown for standard fixed-payment loans. Figures are estimates: lenders can differ on day counts, rounding and fees, and your lender's statement is final. Calculated cells are locked and sheet protection has no password. Built for Microsoft Excel 2016 or later (desktop or Excel for the web) and contains no macros.