Mortgage Payoff Calculator Spreadsheet

About this template

This mortgage payoff calculator shows what paying a little extra each month actually buys you. It runs a thirty-year amortization schedule and recalculates the whole thing the moment you change the extra payment, so you see the new payoff date and the interest saved by each extra payment straight away.

Please read: This is a tracker tool only, not financial, tax, legal, medical or any other professional advice or advisory service. It records and calculates what you enter; you are solely responsible for checking all figures, rates, dates and results and for every decision you make. By purchasing, downloading or using it, you accept these terms (your statutory consumer rights are not affected).

Extra payments, recalculated instantly

Enter each balance, rate and minimum payment once. Change the extra payment and every date in the file moves, from the month each loan clears to your final debt-free date. The dashboard keeps six live figures in view, including that date and the total interest you will pay.

Snowball or avalanche across your home loans

Most templates give you one calculator and one answer. This one runs a full month-by-month schedule for the snowball and for the avalanche, then shows the gap between them in dollars and in months, so you choose knowing what the choice costs. The snowball rolls for real: when a debt clears, its minimum payment joins the next one automatically, and that rolling amount is part of every date in the file.

Ten connected tabs

• Debts: balance, rate and minimum payment, the only things you enter
• Snowball Schedule: every month and every loan until the last one clears
• Avalanche Schedule: the same schedule, ordered the other way round
• Payoff Plan: the order to pay them in and what each will cost you
• Compare: both strategies side by side, with the difference in dollars
• Payoff Calendar: the month each one disappears and what it frees up
• Payment Log: what you actually paid, split into principal and interest
• Dashboard: six live figures, including your debt-free date
• Setup and Start Here

What this mortgage tracker works out

• Your debt-free date, from your own numbers
• The total interest you will pay across the whole plan
• How many months each individual debt takes to clear
• The payoff order under either strategy, set automatically
• Change the extra payment and every date moves with it
• Charts that redraw from your own numbers

A filled-in copy to learn from

You get a worked example to click through and a blank copy ready for your own numbers, in Excel and in Google Sheets. The Payment Log splits every payment into principal and interest, so it stays useful as a home loan payoff record for years.

Works with

• Microsoft Excel 2016, 2019, 2021 and Microsoft 365, on Windows and Mac, and LibreOffice. No Microsoft 365 subscription needed.
• Google Sheets with a free Google account. The Google Sheets version is a real workbook, not a PDF with a link in it.
• No add-ins, no macros, no subscription and no bank connection

What you download

• The Excel workbook, filled with a worked example
• The same workbook, blank and ready for your own numbers
• The instruction guide, with one-click links to the Google Sheets versions (filled and blank)
• The terms of use as a PDF

The Start Here tab walks you through setup in a few minutes.

Your files are ready as soon as payment clears. The template is for personal use on your own devices; please do not share or resell the files. Questions before or after you buy? Use our contact page and we will help.

Frequently asked questions

Does it work in Excel or Google Sheets?

Both. The Excel workbook runs in Excel 2016 or later on Windows and Mac, and the instruction guide has two one-click links to the Google Sheets versions for a free Google account.

How do I see what an extra payment saves?

Change the extra payment and the thirty-year amortization recalculates at once, moving every date and updating the total interest you will pay.

Can I include more than one loan?

Yes. The Debts tab takes a balance, rate and minimum for each loan, and the workbook works out the order to pay them in under snowball or avalanche.

Does it record the payments I actually make?

Yes. The Payment Log records what you paid, split into principal and interest.

Is it hard to set up?

No. You enter the balance, rate and minimum for each loan, and the Start Here tab walks you through setup in a few minutes.