Free Amortization Schedule with Balloon Payment (Excel)
What's in the free balloon amortization template
The workbook has two tabs. Loan Setup holds four inputs: loan amount, annual interest rate, your monthly payment, and the month number your balloon payment is due.
Schedule runs the full month-by-month table for up to 360 months: beginning balance, interest (beginning balance x annual rate / 12), principal (payment minus interest), and ending balance - each row cascades from the one before it.
A Balloon due? column flags the exact month you specified, and the summary below the table pulls the remaining balance due at that month automatically, plus total interest paid over the schedule.
Why this template doesn't calculate your payment for you
Solving for a monthly payment from a target loan amount, rate and term requires the PMT function - and PMT isn't part of the plain-formula subset this file uses (SUM/IF/IFERROR/MIN/MAX/INDEX/MATCH only), which is what keeps it working identically in both Excel and Google Sheets without a single compatibility warning.
In practice, almost everyone running this scenario already has the payment: it's printed on the loan offer or term sheet from the lender. You type that number in once, and the schedule shows you exactly how the balance runs down and what's left at the balloon date - which is the actual question this template answers.
How the row-by-row cascade works
Interest each month is simple: beginning balance times the annual rate, divided by 12. Principal is your payment minus that month's interest. The next row's beginning balance is just the prior row's ending balance - no manual copy-paste, no dragging formulas 360 rows down by hand.
Every cell is wrapped so a blank or reset Loan Setup shows zeros instead of errors, and the balloon lookup uses the exact month number you enter - change it from month 60 to month 84 and the whole schedule and summary update instantly.
Who this template is for
Buyers and small-business borrowers with a balloon loan (commercial real estate, equipment financing, seller-financed deals) who already have their monthly payment quote and need to see the balance trajectory and exact balloon amount before signing.
It's a planning tool for understanding a loan offer - for the closing statement and legal amortization schedule, use the lender's official numbers.
How to use it
- On Loan Setup, enter the loan amount, annual interest rate, your monthly payment (from your loan offer), and the balloon due month.
- The Schedule sheet fills in automatically for up to 360 months.
- Check the Balloon due? column and the summary for the exact balance due at your balloon month.
Download the free Free Amortization Schedule with Balloon Payment (Excel)
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Real Estate Investor Pack
If this loan is for a rental property, the Real Estate Investor Pack ($39) includes a full 360-month amortization schedule that feeds mortgage interest directly into a live rental P&L with cash-on-cash and DSCR.
See the full versionFrequently asked questions
Does this template calculate my monthly payment for me?
No. You enter the monthly payment from your loan offer, and the schedule shows how the balance amortizes and what's left at your balloon month. Computing a payment from scratch requires the PMT function, which is outside this file's plain-formula subset.
How is interest calculated each month?
Beginning balance for that month times the annual interest rate, divided by 12 - a standard simple amortization, not a day-count convention some lenders use for exact interest.
Can I use this in Google Sheets?
Yes. Upload the downloaded file to Google Drive, then open it and choose File > Save as Google Sheets. The cascade and the balloon lookup keep working.
What happens if I change the balloon month?
The Balloon due? flag and the summary's remaining-balance lookup both update automatically to the new month you enter - no other cells need to change.
Is this legal or accounting advice?
No. This is a planning tool for understanding a loan's amortization, not audit or legal advice - confirm final numbers with your lender's official amortization schedule and your accountant.
What's the usage license?
Personal use or use within one business. It's not meant to be resold or redistributed as a template product.