Fast Mortgage Paydown Planning and Tracking Tool (Excel Template)
This easy-to-use and extremely visual Mortgage Paydown template shows your mortgage payment schedule also known as amortization schedule and gives you tools to plan and track accelerated principal pay down.
This tool will help you:
- Plan and track your fast mortgage pay off
- Maximize interest savings
- Pay less to the bank
- Become mortgage free years sooner
- Accumulate equity faster
The schedule is automatically updated when you enter your new or existing mortgage parameters.
The schedule instantly rebuilds when you add extra payments. You can see old vs. new side-by-side!
2) Know the overall cost of your mortgage
3) Plan extra payments to save thousands of dollars in interest
4) Plan extra payments to be mortgage free faster
5) Track the actual extra payments you make towards your mortgage
The Summary section of the Mortgage Paydown tab shows key metrics including:
- the total interest paid
- the total duration of the mortgage
- the total amount of pre-tax earnings required to pay off the mortgage
- the total interest savings from the extra payments your make
- the total time savings from the extra payments you make
- the total earnings savings from the extra payments you make.
- Entering information is simple! Just copy from your current online mortgage screen.
- Always know your current and future mortgage balance!
- Always know how much equity you have and will have in the future.
- Equity is the difference between the current market value of your property and the mortgage balance - which our template shows you!
Equity is the money you'd get if you were to sell the property (before taxes and closing costs).
- Use the template to see when and if it makes sense to refinance, based on the remaining mortgage balance and principal paid out so far.
- Use the template to see when and if it makes sense to refinance. At refinance, you can typically extract 65 to 80% of equity as cash. Use our template to see when you can extract a good chunk of cash, so you can grow your wealth!
This template helps when you are shopping for a new mortgage, since you can easily compare various rates and terms from multiple vendors!
Copy paste the Mortgage Paydown tab as many times as needed
Review unlimited scenarios
The template comes with screenshot examples for CIBC, Scotiabank and Equitable Bank. Get a great start or reference point
Feel free to use and adopt to your needs! The template is not locked or password protected!
Refund Policy: Should this product not meet or exceed your expectations, please contact us for a refund! No questions asked - money back guaranteed.