Loan Amortization Schedule Excel: Download Free Mortgage Amortization Spreadsheet

Published on January 3, 2017

– 7 min read

A loan amortization schedule in Excel can help you understand your loan repayment terms, including your interest costs and how much you could save.

Get Your Free Mortgage Amortization Spreadsheet

To download the Excel loan repayment schedule to your desktop, click the button below.

Need more info on how to use this spreadsheet? Read on…

Loan Amortization Schedule Excel: Defined

A loan amortization schedule for your mortgage is simply a table of your mortgage payments over time. Each payment is broken out by principal and interest. A mortgage amortization spreadsheet can help you understand how much interest you’ll pay over the life of the loan, as well as calculate how much interest you’ll be paying for tax purposes (so you can deduct it). That’s why many borrowers use a loan amortization schedule Excel spreadsheet to keep tabs on their loan payments.

Below is an graph of an amortization schedule of interest versus principal payments over time. Notice that more of your payment goes to interest at first. Then, over time, more of your payment goes towards the principal.

Example of Interest vs. Principal Payment Portions Over Time

interest principal amortization schedule
Many lenders allow you to make extra payments on your loan too. This allows you to pay down your principal sooner, which means you pay less interest over time.

Different Loan Amortization Scenarios

We’ve created a few different loan repayment calculators to view different amortization schedule scenarios. It’s based on assumptions and self-reported figures, like interest rate. Check out and download the loan repayment schedules that are most relevant to you.

Scenario 1: What if I pay X amount toward the principal every year? How much sooner do I pay it off?

The sample scenario shows paying an extra $2,000 on a $400,000 loan with a 3.88% interest rate with a 30-year term. You can see that if you were to do that, you would shorten your loan term by 4 years and save over $40K.
loan amortization extra payments

Scenario 2: What if I borrow X vs. X? How does that affect my payment?

The below sample loan repayment calculator shows the differences between taking a $400K or $500K loan with the same 3.88% interest rate over 30 years. You can see that if you took the smaller loan, you would save yourself nearly $71K in interest over 30 years.

loan amortization comparing loan amounts

Scenario 3: What if I put X down vs X? How does that affect my payment?

This is a different way of asking the same question above. If you put more down, you take a smaller loan. Illustrated below is the scenario where you put 20% down instead of 10%, with an interest rate of 3.88% on a 30 year loan. In this case, you’d save yourself over $40K over the life of the loan.
how much down payment should I do

Scenario 4: What if I have Private Mortgage Insurance (PMI)? How long will it take to reach 80% Loan-to-Value (LTV)?


In the below example, the home value is $600,000 with a $540,00 loan amount with a 3.88% interest rate over 30 years. 540/600 is .9. That means there is a 90% Loan-to-Value (LTV) and, very likely, private mortgage insurance (PMI). Once your LTV is below 80%, you can remove PMI. In this example, the loan repayment calculator shows that that would take about 7 years.


You can also play around with these formulas with our free loan repayment calculator via Google Sheets. Just make yourself a copy and change up the scenarios based on your situation and today’s interest rates.

If you’re ready to see real rates, get a free, personalized rate quote in 3 minutes, click here. You can also chat with one of our licensed Loan Specialists. We also provide you with your amortization schedule in your closing documents so you don’t have to calculate it yourself.

Steven Fung
Steven Fung is a licensed Loan Specialist at Clara with over 17 years of experience. When he doesn’t have his mortgage hat on, he enjoys repairing old cars and working on home improvement projects.
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