Loan Assistant

An add-in for Microsoft Excel that calculates loan payments and amortization tables.

  • Do quick loan calculations
  • Create detailed loan calculations for each month in the loan
  • Show the impact of making additional payments
  • Track interest and principal payments on existing loans
Download a trial version now!

The Loan Assistant add-in for Microsoft Excel is a full-featured financial tool for managing and understanding loans. It is compatible with Microsoft Excel 2013–2024 and Office 365.

With the Loan Assistant you will know in advance what your loan payments will be for any loan. It also generates amortization tables showing the amount of principal, unpaid balance, and interest by week, month, or year. Easily change information on your loan and see the results instantly — including the effect of making early payments on the interest and loan payments.

Loan summary
Loan summary — change any blue entry to see alternative results
Loan detail by year
Summary table showing loan detail by year

To see the detail by pay period, view the PDF file loan detail.pdf.

The Loan Assistant also lets you track principal and interest payments on existing loans. This feature allows you to:

  • Enter the date and amount of each payment
  • Prorate the interest for the initial month of the loan based on the day that interest starts
  • Add additional borrowings in any month and prorate the interest in the first month on these borrowings
  • Get detail reports for all years of the loan or on any year — showing interest charged, interest paid, beginning and ending balances by month, payments made, and how much of each payment is for interest and for principal
  • Loans can start any time, not just the 1st of the year. Payments can be delayed for months or years from the start of the loan

View PDF's of the reports:

For new loans the Loan Assistant creates a detailed Excel workbook that contains:

  • payment schedules
  • interest amortization tables
  • annual interest and principal amounts
  • and graphs of the loan payments

You can change any of the loan assumptions and immediately see the impact. You can also enter advanced payments and one-time irregular payments and see how much interest you save by doing so.

In addition there is a detailed worksheet that shows the following information by payment period:

  • Payment date
  • Payment number
  • Payment amount and amount that is for principal and for interest
  • Advanced payments — which can be entered on any frequency you wish
  • Unpaid balance
  • Cumulative principal payments
  • Cumulative interest payments
  • Cumulative total payments

There are also loan charts that show:

  • Cumulative principal payments by year
  • Interest by year
  • Cumulative interest by year

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