This finance video tutorial explains how to create an amortization table in excel. Loan Amortization Formula​​ In order to create a loan amortization schedule in Excel, we can utilize the following built-in functions: Excel PMT Function.Step 1: Set up your amortization table. Open a new Excel sheet and create input cells for the known components of your loan. This Microsoft Excel template illustrates how to create a loan amortization schedule, as well as dealing with additional payments and variable interest rates. The free Mortgage Amortization Calculator gives you a detailed breakdown of your home loan repayments for a fixed rate home loan. You can create a new amortization schedule in a spreadsheet. To download the Calculator (Excel format), just click the download link below. Free Excel Mortgage Amortization Calculator. If you want to model more complex scenarios, you can also download a more powerful copy of this calculator as a spreadsheet.