Loan Modification Calculator in Excel

Do you have an existing Loan, plan to change it and want see how its modification will affect your finances?

If so then we have a perfect Calculator in Excel for you. It will tell you exactly how changing several different parameters may impact your financial situation.

To use this Calculator you need Microsoft Excel 2007 or 2010 installed on your computer.

To download sample of this calculator: click here (sample is limited to max. 30 repayments)

To purchase full version of this calculator: click here

What Can You Do With This Calculator

As stated earlier, there are many Parameters you can change and instantly see what the impact on your Loan will be.

These parameters are:

  • Loan Amount
  • Loan Start Date
  • Interest Rate (annual or “p.a.”)
  • Interest Compounding Frequency (how often bank adds interest to your loan amount)
  • Repayment Frequency (how often you pay the loan)
  • Repayment Dates
  • Repayment Amounts
  • Add Extra Payments

User Instructions

We developed this Excel calculator with ease of use in mind. You will need basic Excel knowledge. Even without it, these instructions should make it possible to use.

The calculator is divided into 3 parts:

  1. Entry Parameters Section (top left)
  2. Loan Amortization Schedule (bottom screen-wide)
  3. Summary Results (top right)

Now we are going to show you how to work with our calculator. As indicated in the sequence above, you start with part (1) and then carry on through parts (2) and (3).

1. Entry Parameters Section

Here you need to enter your basic loan parameters. They are:

  • Loan Amount. This is how much you want to borrow or to what Amount your old Loan will be modified into.
  • Repayment amount. Most loan calculators ask you for the Loan Term and then they calculate how much you need to pay in each Repayment Period. This calculator is different. Instead of the Loan Term you choose your own Repayment Amount you can afford. The Loan Term will then be adjusted accordingly.
  • Repayment Frequency. You can choose daily, weekly, bi-weekly (fortnightly) or monthly Repayment Frequency
  • Interest Compounding Frequency. Most banks publish Interest Rates as yearly or per annum but compound it daily or monthly. This practice will increase the Effective Interest Rate slightly (kind of deceiving tactic). Ask your bank how they compound the Interest on your Loan.
  • Loan Start Date. This will be used to generate your Repayment Calendar (or Loan Amortization Schedule). You will be able to change individual Repayment Dates later directly in the Schedule)
  • Yearly Interest Rate. This is the yearly or per annum Interest Rate. Calculator will automatically calculate your daily, weekly, fortnightly or monthly Interest based on this annual rate.

2. Loan Amortization Schedule

Loan Amortization Schedule is basically your Repayment Calendar detailing your Total Repayment Amounts in each period broken down to Principal and Interest portions.

Unlike most other calculators, this one allows you to adjust Repayment Amounts in each period. You can also change Actual Repayment Date, if you missed or paid late. The Calculator will then automatically recalculate the Interest.

You can also add any Extra Repayment to each Repayment Period.

Fields that you can freely type in are highlighted as green. Feel free to over-type these fields. But don’t over-type or change formulas in non-green fields; otherwise the Calculator won’t work correctly.

3. Summary Results

Finally, after you enter your Loan Parameters in section (1) and make any adjustments to your actual Loan Schedule in section (2), now you will get the Summary Results for your Loan.

These include:

  • Total Principal paid (equals original Loan Amount you borrowed at the beginning)
  • Total Interest paid (over the entire Loan Term)
  • Loan Term (Time it will take you to repay your Loan in years)


Well, and that’s all to it. As you can see, using our Loan Modification Calculator is extremely easy and straightforward. It offers many additional options allowing you to perform interactive Loan Modelling.

Every change you make to the Loan Parameters will instantly update all other values – within the Repayment Calendar and in the Summary Results as well.

We hope that you will enjoy working with this Calculator. If you have any comments or suggestions, please feel free to talk to us through our Contact Form.

The links for this Calculator: Download Sample or Buy Full Version

6 thoughts on “Loan Modification Calculator in Excel

    1. admin Post author

      It’s very easy. Just unhide the calculation sheet and copy the last 8000th. row to any number of more rows you need.

  1. greg

    can the Ultimate loan calculator be used as like a LOC or credit card when trying to figure daily interest charges.
    Example: Like a Credit Card, I charge an item, then at end of month make a payment either in full or maybe not, but not having a grace period, then charge more items in different amounts and make a payment from month to month… ongoing.
    Just like a credit card company figures the daily interest charged between purchases and payments.

    1. admin Post author

      Theoretically yes, but this is not its original purpose. You would have to enter each new purchase as a “negative payment”. You can try to download the demo version and see if that would work for you.


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