That’s right, you may download our free amortization calculator at the bottom of this page. The calculator is based on a typical 30 year fully amortized mortgage, and will show you right down to the penny how much money will be allocated to principle and interest each and every time you make a payment. Here is a preview of the xls spreadsheet:

Free Amortization Calculator
Input Area
Original Loan Amount $80,000.00
Interest Rate 6.500%
Automatic Calculation Area
Month (You may replace with Date) Total Payment (PI Only) Total to Principle Total to Interest New Balance
1 $505.65 $72.71 $432.94 $79,927.68
2 $505.65 $73.11 $432.55 $79,854.97
3 $505.65 $73.50 $432.15 $79,781.86
4 $505.65 $73.90 $431.75 $79,708.36
5 $505.65 $74.30 $431.35 $79,634.46
6 $505.65 $74.70 $430.95 $79,560.15
7 $505.65 $75.11 $430.55 $79,485.45
8 $505.65 $75.52 $430.14 $79,410.34
9 $505.65 $75.92 $429.73 $79,334.83
10 $505.65 $76.34 $429.32 $79,258.90

Now, in this example, I have put in some dummy numbers, to show what the output looks. What you will need to do, is replace the original loan amount with original principle balance, input your interest rate, and the Free Amortization Calculator does the rest (yes it even calculates the payment for you). I only showed you 10 months of payments in the above example, but the real spreadsheet has the complete amortizaiton schedule, to include all 360 payments.

This free amortization calculator is a great tool to know exactly where you are at in your mortgage. The spreadsheet could be modified to reflect an additional payment at specific times during the loan by adding the additional amount to the payment for that particular month. But stayed tuned, as I will be publishing some more great mortgage / amortization calculators in the near future! Meantime, sign up for my RSS feed to get free, real time updates.

You may download the xls spreadsheet here:

Free Amortization Calculator.xls

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