House Payment Spreadsheet Version 3.0: Looking to Pay off your mortgage early? Check out our newest version of the House Payment Spreadsheet. This sheet offers everything our previous version did, with some really cool new features. For starters, the user inputs, which would be your loan details, are frozen in place, so no matter where you are in the amortization, you can see the details of the loan. The second big feature is the user metrics section. Like the user inputs section, this is also frozen and will travel with the entire screen. The user metrics section tells you how much interest you will pay over the life of the loan and calculates in any additional principal payments you make and tells you how many months you have taken off the mortgage and how much interest you have saved. I personally love this feature and my need for this feature is why I created version 3.0 of this spreadsheet.
Paying off a mortgage is a lot of hard work and you don’t see any real results until it is fully paid off. The user metrics provided by this spreadsheet provide a HUGE motivational boost. For me I was blown away to see that so far I have saved over $40,000 in interest and taken over 10 years off my mortgage! I love seeing how much money and time I am saving with each payment I make on my mortgage.
This spreadsheet is also great for comparing different mortgage options. There is an amortization sheet for a 30 year, 20 year, 15 year, and 10 year amortization and an extra sheet that compares the equity built in each mortgage type over time. Click here for a video overview of the spreadsheet