Download a Free Balloon Loan Payment Calculator for Excel. Calculate the balloon payment and amortization schedule for variaous loans.This calculator can create a loan amortization schedule given only three of four necessary variables. Calculate the monthly payments, total interest, and the amount of the balloon payment for a simple loan using this Excel spreadsheet template. 6. For a printable payment schedule, click on "Create Amortization Schedule" and a new browser window will open. Generate Monthly Truck Loan Amortization Schedule? Otherwise, you can use Table 1 to determine your qualified loan limit and deductible home mortgage interest. NO. Costs at Closing. Total amount repaid for interest only (with balloon payment for original amount borrowed at end of the loan's term):. Generate Amortization Schedule?