The great thing about Microsoft Excel's Loan Amortization spreadsheet is that it's FREE. Have a loan you want to pay off?Try this amortization schedule Excel template to calculate your payments and track your payoff progress. Loan Amortization Schedule outlines the interest and principal payments owed on a mortgage, including the outstanding balance. Use these calculator templates to help you navigate your loans, budgets, net worth, and more. Check out the web's best free mortgage calculator to save money on your home loan today. Add up your onetime and monthly expenses to get a good picture of how much capital you'll need and when you'll need it. An amortization schedule template basically outlines the detail of a loan in a very specialized way.