Can I ask my bank for an amortization schedule?

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.

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Sample Letter for Payoff of Loan held by Mortgage Company

Simple Excel Amortization Schedule In Salt Lake

Category:

Letters - Loans and Lending - Mortgages Payoff

State:

Multi-State

County:

Salt Lake

Control #:

US-0019LTR

Format:

Instant download

Description

The Simple Excel Amortization Schedule in Salt Lake is a practical tool designed to help users understand and manage loan payments over time. This form facilitates the calculation of principal and interest for each payment period, allowing users to visualize how their payments affect the overall loan balance. It serves as an efficient guide for various stakeholders, including attorneys, partners, owners, associates, paralegals, and legal assistants, by simplifying complex financial concepts into an accessible format. Users can easily fill in their loan details, such as interest rate, term, and initial balance, to generate a complete schedule. Additionally, the template allows for easy editing, ensuring that users can adjust figures as needed based on changes in their financial situation. It is particularly useful in real estate transactions, loan refinancing, or any scenarios requiring detailed repayment planning. Overall, the schedule enhances financial transparency and aids in decision-making for users navigating the intricacies of loan agreements.

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FAQ

The PMT function in Excel determines the total payment owed each period—inclusive of the interest and principal payment. The total payment, unlike the other two components, will remain constant over the entire borrowing term.

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.

In general, amortization schedules are provided to borrowers by banks or other financial institutions when credit is extended so that borrowers understand the repayment structure.

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.

Open the Schedule template in Google Sheets At the top of the page, you'll see a section called “Start a new spreadsheet” with several different options to choose from. From here, you'll click “Template gallery” at the top right-hand corner of this section.

Google Sheets offers you access to a wide range of templates that can help you get started with your accounting spreadsheet quickly and easily. These templates are pre-built spreadsheets designed to perform specific tasks, such as creating an income statement or balance sheet.