Current Version: Version 1.9
Compatibility: PC Only | Excel 2007 or later | Works on 32-bit or 64-bit
License: Each template purchased equates to one single-user license
Understanding Your Home Mortgage Loan!
Your home mortgage is most likely the largest debt you will take on during your lifetime (it certainly was for me). One major problem I ran into after purchasing my new home and getting my mortgage setup, was knowing how to plan out my payments. Do I go with the minimum and just pay what the bank tells me to do? Do I overpay? How much should I overpay? These were all questions that ran through my head and inspired me to put together a spreadsheet that helped me track my loan and understand exactly how much interest I was paying to the bank.
After putting this spreadsheet together, I was able to easily see how I could save over $10,000 if I just increased my monthly payment by a few hundred dollars. It also served as motivation to try to control my expenses and put more money towards my loan as I could easily see how increases of an extra $25, $50, and $100 made a huge impact on the amount of interest I would be paying over the life of my mortgage loan.
I saw how valuable this spreadsheet was for my personal finance and put a ton of effort into it to make it efficient enough to work for everyone. So go ahead and check out what I’ve put together and determine if one of the two offerings is something that would be useful for you!
Founder, TheSpreadsheetGuru.com (and proud homeowner)
An Amazing Dashboard!
The Dashboard is where you will spend most of your time. This single tab will consolidate all the important information about how you are tackling paying off your home mortgage. You can see when your loan is projected to be paid off, what your average payment has been, and track how much interest expense you have prevented.
There is also a section that will allow you to quickly perform scenario analysis on your monthly payments. Just enter in how much extra per month you believe you could put towards paying off your loan and see how that impacts your projects.
To use this template, you will need to provide just a few things about your loan agreement:
Which Currency do you want your numbers in (Dollars, Euros, Yen, or Pounds)?
The amount of money that was loaned to you.
How long do you have to pay off the loan (typically 15 or 30 years)?
The start date of your loan.
Your current Escrow payment.
Are you making payments Monthly, Bi-Weekly, or Weekly?
What was your down payment for your home?
How much have you spent on home improvements (ie new furnace, finished basement, etc…)?
After you have entered in those key data points, just click the Refresh Loan Table button and the spreadsheet will do the rest!
Analyzing Your Loan Terms
After you have entered your loan information, you will immediately see some calculated information about your loan. For example, you will learn what month/year you will be paying off your loan and also how much interest you will be paying the bank. You can then continue to the Amortization table and enter in any changes to your planned payments (see next section).
Track Payments With Amortization Table
Unless you are an accountant, you are probably cringing (or completely terrified) after seeing the word: Amortization! Don’t worry, I’ve gone ahead and done all the hard work and created all the formulas that will track the interest, principal, and current balance of your loan. Instead of an “Amortization Table”, let’s just call it your “Loan Table”. This table is going to perform the same calculations your bank will be using to track the progress of how you are paying back your loan.
All you need to do is go into this table each month and enter your loan payment amount, Escrow payment (if applicable), and interest rate (if you don’t have a variable interest rate, it will remain the same no matter what). That’s all there is to it! You can then proceed to your awesome Dashboard tab and get a nice visual update on how you are doing with your loan.
Free Lite Version Available
I know not everyone has the money to buy a fancy spreadsheet, so I went ahead and created a simple & clean Loan Amortization Table spreadsheet that will help you track your monthly payments and keep track of how much interest you will be paying over the course of the loan. This single tab Excel file is easy to maintain and does a great job at helping you track your loan.
Pick The Version For You!
There are two versions of this template available to download. Skim down through the Feature Grid below, so you can determine which version is right for you!
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30-Day Money-Back Guarantee
I'm so confident you will love this Excel spreadsheet, I'm willing to give you 30 days from your purchase date to decide if this is the tool for you. If you come to the conclusion that this Excel spreadsheet was not what you were expecting, just shoot me an email and I'll refund you your money back.
So what's there to lose? Now is your opportunity to pick up this revolutionary Excel spreadsheet that will bring clarity to your home loan and hopefully give you the confidence to save some money on interest.
Click the Buy Now button below to quickly get your hands on this amazingly powerful Excel spreadsheet!
What Are You Waiting For?!
You now have the ability to track and analyze how you have been paying off your home mortgage. Knowing the amount of interest you could potentially end up paying versus how much you can afford to prevent is tremendously powerful and using this spreadsheet is going to make the process so much easier for you. Pick up a copy of the Home Mortgage Tracker Excel spreadsheet today!