Mortgage Amortization With Paydown Calculator Spreadsheet

Want to know how much sooner you’d pay off your mortgage and how much money you would save by paying extra on your mortgage payment? You'd be surprised how much you can save with even a small additional payment. Use this calculator to try many different scenarios - either a monthly added amount, or just a one time added payment.

This calculator shows how much money you can save, and how much sooner you will pay off your mortgage, as you change how much you are paying each month. Besides giving a basic amortization table - showing how much principal and interest is paid each month - this calculator lets you enter additional payments in two different ways:

• Enter a monthly amount to be paid every month until the loan is paid off,

• Enter one or more one-time payments is specific months.

The additional payments are then used to calculate how much sooner the mortgage will be paid off and how much interest you will have saved by making additional payments on top of your normal monthly loan payment. There is also a full amortization schedule with interest and principal balances after each monthly payment - and a second sheet which shows a summary of amortization per year.

This is a slightly simpler version - a prior version - than the newer spreadsheet which includes additional monthly payment components (taxes, insurance) and a graph showing the components of the monthly payment visually in a pie chart. That newer version can be found at this link.

NOTE: Upon payment, you will receive a downloaded Excel XLS version of this spreadsheet. If you want to get your own copy of this spreadsheet on Google Sheets - please simply send an email with your confirmation and we will get a link to you asap!