Mortgage and Loan Payoff Calculator (Extra Payments, Refinance, Biweekly)

$12 · Excel (.xlsx), works in Google Sheets and Numbers

Etsy title

Mortgage Calculator Excel Template, Loan Payoff Spreadsheet with Extra Payments, Amortization Schedule, Refinance and Biweekly Planner

Description

See exactly how much faster you can pay off a mortgage or loan, and exactly how much interest you can save, before you send a single extra dollar. This Excel workbook takes your loan amount, rate, and term and builds a full month-by-month amortization schedule, then layers in an extra monthly payment (starting now or at any later payment number), a one-time extra payment, and a recurring annual lump sum so you can see the real effect of paying more than the minimum.

Type your numbers into the blue cells on the Calculator tab and everything updates instantly: monthly principal and interest, total interest with and without your extra payments, interest saved, months saved, and your new payoff date, plus a small summary table comparing the original schedule to your plan. Underneath, a full 480-row amortization schedule runs the math month by month, with a matching no-extras baseline for comparison. A Refinance tab compares staying on your current loan against a proposed refinance, including a break-even month on closing costs and a plain verdict. A Biweekly tab shows what happens if you pay half your payment every two weeks instead of once a month. Two charts show your balance dropping over time and your annual interest versus principal split.

This is a planning tool, not a lender or a loan offer. It does not collect, suggest, or recommend any lender, interest rate, or loan product, you enter your own numbers and your own refinance quote. For education and planning only, not financial advice.

Every non-input number in this workbook is a live formula, including PMT for the payment, MIN-capped principal so payments never overshoot a zero balance, and SUMIFS for the yearly chart totals. Built with AI assistance and formula-checked; formulas are fully open, so you can click any cell and see exactly how each number was built. Nothing is hidden, locked, or protected. Works in Excel, Google Sheets, and LibreOffice Calc. Delivered as a single .xlsx file, instant digital download, no physical product ships.

What is inside

• Calculator: one-screen summary with your inputs, key outputs, a baseline versus your-plan comparison table, the color legend, and the education-only disclosure
• Schedule: full 480-row monthly amortization with your extra monthly payment (from the start payment number you choose), one-time extra payment, and annual lump sum applied, plus cumulative interest and a year helper column
• Baseline: the same loan with no extra payments, used to calculate interest saved and months saved
• Refinance: compares your current loan to a proposed refinance, with remaining balance, remaining interest, new payment, monthly payment change, break-even month on closing costs, and a verdict
• Biweekly: models paying half your payment every two weeks and shows the months and interest saved
• Charts: loan balance over time (baseline versus with extras) and annual interest versus principal by year

Tags

• mortgage calculator
• loan payoff
• amortization excel
• excel spreadsheet
• extra payments
• refinance calculator
• biweekly payments
• home loan excel
• debt payoff planner
• mortgage spreadsheet
• loan amortization
• payoff calculator
• finance template

Gumroad description

A plain-English mortgage and loan payoff calculator built in Excel: enter your loan amount, rate, term, and any extra monthly payment, one-time extra payment, or annual lump sum, and instantly see your monthly payment, total interest with and without extras, interest saved, months saved, and your new payoff date, backed by a full 480-row amortization schedule, a no-extras baseline for comparison, a refinance break-even tab, and a biweekly payment view, all built on open, editable formulas with no macros, plugins, or locked cells, for education and planning only, not financial advice.