The tutorial shows how to build an amortization schedule in Excel to detail periodic payments on an amortizing loan or mortgage. 1. Gather the details of your proposed balloon payment loan.This spreadsheet-based calculator creates an amortization schedule for a fixed-rate loan, with optional extra payments. A stepbystep guide for making loan payment tables: How to create an amortization schedule in Excel? Examples and free templates. Balloon amortization. The indepth Watch Me Build is a 25 minute behemoth, showing you how to build a more complex, dynamic amortization table in Excel.