Loan Amortization Schedule Excel With Moratorium Period In Hennepin
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You can ask your lender for an amortization schedule, but this might not be as helpful if you're looking to see how extra payments could impact that schedule.
Borrowers looking to extend their mortgage amortization at any time other than at renewal would need to refinance the mortgage. This is possible but will require requalifying for the mortgage at today's rates and may come with some hefty penalties to break the current mortgage.
If you want to shorten or lengthen the amortization period of your mortgage, you can do so when renewing. Yes, a shorter amortization period means you'll be paying more every week or month. But you've got a good chance of getting a better interest rate, and you'll definitely be paying off your mortgage much faster.
Fortunately, Excel can be used to create an amortization schedule. The amortization schedule template below can be used for a variable number of periods, as well as extra payments and variable interest rates.
You can ask your lender for an amortization schedule, but this might not be as helpful if you're looking to see how extra payments could impact that schedule.
