Bi-Weekly Mortgage Payment Amortization Template For Excel
Homeowners who have taken out a mortgage would know how important it is to keep track of their amortization. This is to ensure that their mortgage payments are up-to-date and at the same time to make adequate allocations to their finances and even to maintain savings.
There are many mortgage amortization calculators available online but it is also best to have your own mortgage payment amortization schedule and record. Having your own record that you can update anytime and return to for reference is a good way to keep you financially aware of your mortgage obligations as well as organize payment schedules.
The Biweekly Mortgage Payment Amortization Template for Excel is a wonderful tool for keeping track of your payments and to also see how long it will take you to pay off your loan, as well as the interest you need to pay.
This Mortgage Payment Amortization Template is a template designed by Microsoft partner TemplateZone by KMT Software. This is available for Excel 2003 or later versions. It is professionally designed to show you your mortgage payment amortization schedule and how your payments affect your principal and interest.
Through the Biweekly Mortgage Payment Amortization Template for Excel, you can know how much of your biweekly payments go to the principal and how much goes to the interest. It also shows the Beginning Balance of your Mortgage, as well as the Cumulative Principal, Cumulative Interest, and Ending Balance. This information is important so you can easily analyze your payments and plan your financial situation against your scheduled mortgage payments.
What is also great about this Biweekly Mortgage Payment Amortization is that you don’t have to resort to Mortgage Amortization Calculators because all the computations already come with the Excel template. All you have to do is input all the information needed. It includes Loan Principal Amount, Annual Interest Rate, Loan Period in Years, Base Year, Loan Start Date, and Date of First Payment.
This Biweekly Mortgage Payment Amortization Template for Excel also displays your Annual Loan Payments, Biweekly Payments, Interest Over Term of Loan and Sum of all Payments. This information appears on the upper part of the spreadsheet so that all the important information you need is available at a glance.