The tutorial shows how to build an amortization schedule in Excel to detail periodic payments on an amortizing loan or mortgage. You can create an Excel amortization table with changing interest rates.Here's how you can build it. This Microsoft Excel template illustrates how to create a loan amortization schedule, as well as dealing with additional payments and variable interest rates. Adjustablerate loans have a variable interest rate. If you have this type of loan, use the current interest rate when you set up your loan. The free Mortgage Amortization Calculator gives you a detailed breakdown of your home loan repayments for a fixed rate home loan.