Download a Free Balloon Loan Payment Calculator for Excel. Calculate the balloon payment and amortization schedule for variaous loans.In this video I'm going to show you how you can use Microsoft Excel to conduct a fairly straightforward exercise in loan amortization. And they might choose to always round down, usually resulting in a small "balloon payment" (extra principal) with the last payment. Do you need help understanding your debt financing terms? Fill in the spreadsheet for Ann. For a printable payment schedule, click on "Create Amortization Schedule" and a new browser window will open. Total amount repaid for interest only (with balloon payment for original amount borrowed at end of the loan's term):. Generate Amortization Schedule? Check out the web's best free mortgage calculator to save money on your home loan today.