Download a Free Balloon Loan Payment Calculator for Excel. Calculate the balloon payment and amortization schedule for variaous loans.Describe payment schedule, if any (amortizing payments based on X amortization term, balloon payment, interest only, etc. Loan amortization schedule. 3. 4, Enter values, Loan summary. The tutorial shows how to build an amortization schedule in Excel to detail periodic payments on an amortizing loan or mortgage. Where people create machine learning projects. A project for information security course.