This finance video tutorial explains how to create an amortization table in excel. In this tutorial we will see how to create an amortization schedule for a fixed-rate loan using Microsoft Excel and other spreadsheets.Microsoft Excel Mortgage Caculator XLS Worksheet. Microsoft has provided a template for loan amortization schedules that you can open in Excel and adjust to your needs. Looking for a flexible free downloadable loan calculator built in Excel? Try this free feature-rich loan calculator today! This spreadsheet is an allinone home mortgage calculator. It lets you analyze a fixed or variable rate home mortgage. Use the PPMT function to calculate the principal part of the payment. In the mortgage amortization table for 240 months seen in Section 8.3.