A fixed-rate loan with an interest-only option is fairly simple to understand and predict, but interest-only mortgages with adjustable rates seem much more risky. I can't answer that for you, but I would strongly recommend reading through the material listed in the references below. The mortgage loan amounts to 400,000 with an annual interest rate of 5.00 and monthly compounding. If you want to include extra payments, you enter them in the amortization table.īe sure to read the comments within the file (marked with a little red triangle on some of the cells) if you have questions. Suppose you’re tasked with creating a loan amortization schedule on behalf of a consumer that decided to take out a 30-year fixed-rate, fully amortizing loan. Simply enter your loan information in the cells with the white background and everything else is calculated automatically. Our spreadsheet should be pretty intuitive to use. We've also made a few cosmetic changes and updated comments and help info.Ī commercial use version of this Interest-Only Loan calculator is included as a bonus spreadsheet when you purchase the Loan Amortization Schedule. Update : The main XLSX version for Excel 2007+ has been updated to allow duplicating the loan worksheet (for comparing different loans within the same workbook). It will work for an interest-only loan or interest-only mortgage. This spreadsheet creates an amortization schedule for a fixed-rate loan, with optional extra payments and an optional interest-only period.
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