Why You Need a Free Loan Tracking Spreadsheet in Your Life Tool Kit

Figure 1: Example #1 loan terms entered in the yellow cells. Results in the white cells.
Figure 2: The Example #2 $250 extra monthly payment is entered in the bottom yellow cell. Blue box cells show savings.
Figure 3: A single $5,000 pre-payment to principal entered (dark yellow cell) early in the life of a loan can have a large positive impact (green values in blue box).
Results consolidated to a table.
Figure 4A: “Base 30-Year” loan terms entered in the yellow cells yield loan results in the middle box.
Figure 4B: “Base 15-Year” loan terms entered in the yellow cells yield loan results in the middle box.
Figure 4C: “Matching 30-Year” loan terms entered in the yellow cells yield loan results in the middle box. Note that the “Xtra Pmt/Period” is $556.82 with total monthly payment of $1,874.38 — same as the “Base 15-Year” loan
Figure 4D: “Equivalent 30-Year” loan terms entered in the yellow cells yield loan results in the middle box. Note that the “Xtra Pmt/Period” is $845 so that the total loan cost is $337,293 — roughly the same as the “Base 15-Year” loan
Figure 5: Modeling your mortgage by manually entering extra pre-payments into the dark yellow monthly payment cells to match your precise loan history.
Figure 6A1: Additional graph showing payment types with vs. without extra payments. Note the dark green bar section showing how much of the principal (original loan amount) will be pre-payments
Figure 6A2: Additional graph showing monthly payment breakdown (interest, scheduled principal, extra payment principal). Note the dark green spikes in the early principal payments that reflect the dark yellow unique pre-payments. Many bank lender websites may not provide loan charts that allow you to model and view your past loan history so precisely.
Figure 6B: STANDARD Edition orange box indicates exactly where the loan payments stand; “done this far” versus “balance remaining”. There is also a name box in yellow at the top middle.

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