An amortization schedule is the plan for monthly repayment. This calculator will help you figure out your regular loan payments and it will also create a detailed schedule of payments.Review and compare 11 best Excel amortization template sites. For each, we list its pros and cons. Step 1: Set up your amortization table. Open a new Excel sheet and create input cells for the known components of your loan. Between juggling due dates, calculating interest, and keeping track of balances, it's easy for everything to spiral out of control. Additionally, explore the detailed payment schedule in the table below, and download the data as an Excel or CSV file for your records. Once you calculate M (monthly mortgage payment), you can add in the monthly property tax and homeowners insurance payment. What is amortization?