Free Mortgage Amortization Schedule Excel Template
See exactly where every mortgage dollar goes. Enter your loan amount, rate, and term to get the monthly payment instantly — plus a complete month-by-month schedule showing principal, interest, and remaining balance.
What's inside
- Input cells for loan amount, annual rate, term, and first payment date
- Automatic monthly payment via the PMT formula, plus total paid and total interest
- Full amortization table: payment number, date, payment, principal, interest, balance
- Formulas scale to the full loan term (360 rows for a 30-year loan)
- Frozen header row so you can scroll three decades of payments without losing your place
Opens in Microsoft Excel, Google Sheets, and LibreOffice. No signup, no watermarks.
How to use this template
Enter your loan amount, annual interest rate, term in years, and the date of your first payment in the yellow cells at the top. The monthly payment, total paid over the life of the loan, and total interest appear immediately.
Scroll the amortization table to see the anatomy of your loan: early payments are mostly interest, and the principal share grows every month. This is the single most useful view for understanding why extra principal payments early on save so much interest.
Use it to model scenarios before you sign: bump the rate up a point to see the damage, or shorten the term to 15 years and watch the total interest collapse. Knowledge you bring to the lender's office is negotiating power.
Frequently asked questions
How accurate is this amortization schedule?
It uses the standard PMT amortization math lenders use, so the payment matches your lender's quote to the penny for a fixed-rate loan. Adjustable-rate loans will differ once the rate changes.
Does it handle extra principal payments?
The base schedule shows the standard amortization. To model extra payments, copy the sheet and reduce balances manually — or use our free debt payoff calculator approach: extra principal simply shortens the schedule from the top down.
Why is so much of my early payment interest?
Interest is charged on the outstanding balance, which is largest at the start. As the balance shrinks, the same payment covers more principal. The schedule makes this visible month by month.
Can I use this for a 15-year loan?
Yes — just change the term to 15. The table includes 360 rows; rows beyond your term will show zeros, which you can ignore or delete.