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need an spreadsheet loan template
Posted by: Ombligo
Date: October 17, 2022 11:01AM
Trying to find a spreadsheet template for loan amortization. However, I need one that will allow for occasional extra principal payments of varying amounts. Everything I can find assumes you are going to make the extra principal payments every single time, that is not what I need.

Any suggestions?



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Edited 1 time(s). Last edit at 10/17/2022 11:02AM by Ombligo.
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Re: need an spreadsheet loan template
Posted by: lost in space
Date: October 17, 2022 01:21PM
I put together that very thing in excel a while back. PM me your email addy and I'll send it.



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Re: need an spreadsheet loan template
Posted by: LyleH
Date: October 17, 2022 04:11PM
This link describes some free spreadsheets that allow for Extra Payments. [www.mtgprofessor.com]

Click the Extra Payments link (heading) that seems to do what you want and you can then download it.

My daughter is using the Extra Payments on Monthly Payment Fixed-Rate Mortgages spreadsheet and it works for her. However, seems like my posts are usually screwed up - YMMV - Lyle
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Re: need an spreadsheet loan template
Posted by: mattkime
Date: October 18, 2022 08:50AM
Even at current interest rates, you're probably best off a) making sure your rainy day fund is fully funded b) you're maxing out any tax advantaged retirement funds before paying down a mortgage.



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