![]() MORE DETAIL on How you can use the Mortgage Amortization With Paydown Savings Spreadsheet: You can enter additional payment amounts and the Amortization Schedule, as well as all the output calculations above, will be recalculated for you showing you how much you saved over the life of the loan by making those additional payments! Here is where you can optionally enter additional payments at the dates associated with any payment. ![]() The Amortization Schedule is presented with Payment period, Date of payment, Payment Amount, Interest portion of payment, Principal portion of payment - plus any additional payment components you added above - and the new Principal Balance at the end of every payment period. Most importantly, the number of payment periods reduces, and the life of your loan decreases - meaning you reduce your total interest paid and get out from under your debt sooner! As you enter additional payments, your principal balance reduces and your amortization schedule adjusts. ![]() ![]() At this step you already have a VERY USEFUL full loan amortization schedule - month-by-month! But here is where this spreadsheet gives you the most useful feature - the ability to enter any additional loan payments you plan to make (or have already made) at any month through the life of the loan or mortgage. ![]()
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