Mortgage Payoff Spreadsheet and Tracker, Extra Payment Calculator by Paycheck, Amortization Schedule, PMI Removal, Excel Google Sheets

Mortgage Payoff Spreadsheet is an editable Excel and Google Sheets workbook for homeowners, for sending extra from every paycheck to the mortgage. Works on computer or phone. Instant download.

Your paychecks are under control. The biggest bill left is the house, and the question now is what a little extra from each paycheck would do to it. If you budget by paycheck with the Paycheck Budget, send a little from each one to the house: the extra you set aside goes in one cell here, with your pay frequency and one payday, and the three-paycheck months are counted for you. If you never used it, all this needs is your mortgage statement. In the invented sample, a $300,000 loan at 6.375% has $285,917.19 left and would be paid off in Dec 2052. Send $100 from every paycheck, paid every two weeks, plus a $1,500 tax refund each April and a one-time $2,000 bonus, and it is paid off in Sep 2044, 8 years 3 months sooner, with $109,633 less interest. Make it $150 a paycheck and the payoff moves to Apr 2043 and the interest saved to $128,012.

Copy four numbers from your statement onto Loan Setup, type the extra you can send, how often you are paid and one payday on Payoff Plan, and read the tiles. Everything else follows.

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📦 WHAT'S INCLUDED (6 FILES)
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01. Mortgage Payoff Spreadsheet workbook (3 files)
Nine tabs for Excel or Google Sheets: Start Here, Payoff Plan, Loan Setup, Schedule, Paycheck Extras, Compare Strategies, Refinance Check, Payment Log and Help, with 7,883 formulas. Payoff Plan holds your plan beside six tiles (payoff date, interest saved, time saved, interest still to pay, when you can ask to remove PMI, and your extra a year) and a balance chart with the plan and without extra. Schedule runs 480 months. The Colorful edition, the Editorial edition, and a 3color zip holding Colorful, Light and Dark.

02. Quick-Start guide and START-HERE (2 files)
The two-page QUICK-START PDF with the first four steps and what every tab is for, and a plain-text START-HERE that explains how the payoff is worked out.

03. ACCESS-YOUR-TEMPLATE (1 file)
ACCESS-YOUR-TEMPLATE.pdf with the Google Sheets copy of the workbook: open it and click Make a copy.

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👤 WHO THIS IS FOR
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A homeowner paid weekly, every two weeks or twice a month who has the bills under control and wants to send a set amount from each paycheck to principal and watch the payoff date move.

Someone paying PMI who wants the month they can ask to have it removed, with their extra payments counted, and the month it ends on its own.

Someone weighing biweekly half-payments, one extra payment a year, a lump sum or a refinance offer, who wants the numbers side by side before calling the servicer.

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🚫 WHO THIS IS NOT FOR
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Anyone with an adjustable-rate loan who needs the rate resets modeled, or anyone ranking several debts by snowball or avalanche. This is a fixed-rate model for one mortgage.

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✅ KEY BENEFITS
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A 480-month schedule from your next payment, with interest rounded to the cent like a statement and the no-extra balance beside it, checked to the cent on every row against an independent calculation.
Your real paydays counted month by month for weekly, every two weeks, twice a month or monthly pay, with the three-paycheck months highlighted: in the sample, October 2026 has three paydays and $300 goes to the loan.
The PMI dates under the Homeowners Protection Act: the month you can ask to remove PMI at 80% of the original value (Jun 2028 with the sample plan, against Jul 2030 on the original schedule) and the automatic end at 78% (Sep 2031).
Six strategies side by side as estimates (no extra, your extra per paycheck, biweekly half-payments, one extra payment a year, the lump sum only and your whole plan), and a Refinance Check with the new payment, the up-front cost and the break-even month.
A Payment Log that reads ahead, on plan or behind for each month. 7,883 formulas in Excel 2016 or later and Google Sheets, four color editions, no macros.

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🔧 HOW IT WORKS
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1. On Loan Setup, copy four numbers from your statement (current principal balance, interest rate, monthly principal and interest, next payment due) and four from your closing papers (original loan amount, term, first payment date and the home's original value). The payment check reads Matches when they agree.

2. Set the plan and watch it move. The invented sample loan is $300,000 at 6.375% for 30 years with a first payment on Jan 1, 2023: $285,917.19 left after 45 payments of $1,871.61, paid off Dec 2052 with no extra. On Payoff Plan the sample sends $100 from each paycheck, paid every two weeks from Oct 2, 2026, plus a $1,500 tax refund each April ($4,100 a year in all) and a one-time $2,000 bonus in Dec 2026. PAYOFF DATE reads Sep 2044, 216 payments instead of 315, and INTEREST SAVED reads $109,633. Change Extra per paycheck to $150 and they read Apr 2043 and $128,012, and TIME SAVED goes from 8 yrs 3 mos to 9 yrs 8 mos.

3. Read Schedule and Paycheck Extras, tell your servicer each extra payment is for principal, and log what you actually pay on Payment Log. Compare Strategies and Refinance Check answer the what-ifs.

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❓ QUESTIONS BUYERS ASK
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What format is this? One workbook (.xlsx) in four color editions (Colorful, Editorial, Light and Dark), with a quick-start PDF, a START-HERE file and the Google Sheets copy PDF. 6 files in one zip, ready to download the moment payment clears.

What do I need to open it? Do I need Canva? No Canva. Excel 2016 or later, or Google Sheets: open ACCESS-YOUR-TEMPLATE.pdf and click Make a copy. On a phone or tablet, use the Google Sheets or Excel app. It was tested in LibreOffice Calc too; Apple Numbers opens it but drops some formatting. No macros and nothing to install.

What does it work out? Your payoff date with the plan and without extra, the interest saved, the time saved, the interest still to pay, every payment for up to 480 months, your paydays for the next 24 months, the extra a year, the PMI dates, six strategies compared, a refinance offer's payment, break-even and interest, and whether your real payments are ahead of the plan. A tax refund goes in Yearly extra with its month, and a one-time bonus in One-time lump sum.

Is this lending advice, and are the PMI dates exact? No. It is a fixed-rate model doing arithmetic on the numbers you type: estimates, not lending advice. The PMI dates follow the Homeowners Protection Act as the CFPB summarizes it (ask in writing at 80% of the original value, automatic at 78% on the original schedule); your servicer may add conditions such as an appraisal, and FHA mortgage insurance works differently. Verify with your servicer.

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⚠️ PLEASE READ
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A fixed-rate, month-by-month model: interest is the balance times the rate over 12, rounded to the cent. Daily-interest servicing, adjustable-rate resets, escrow changes, fees, prepayment penalties and recasts are not modeled, so a real statement can differ by a few dollars. Each extra lands in the month its paycheck arrives.

Interest saved compares your plan with paying no extra from the next payment on; interest already paid is not counted. Compare Strategies figures are estimates; Schedule is the exact month by month.

PMI dates are arithmetic on the Homeowners Protection Act rules as the CFPB summarizes them. Servicers can add conditions (an appraisal, seasoning, payment history). FHA mortgage insurance (MIP) follows HUD rules instead, and VA loans carry no monthly mortgage insurance. Verify with your servicer. Estimates, not lending advice.

The sample loan is invented, including its servicer and the three sample months on Payment Log (Oct to Dec 2026). The sample's saving comes from the $100 a paycheck together with the $1,500 yearly refund and the $2,000 bonus; type your own and the tiles follow. The four color editions are separate files: pick one and stay in it.

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📥 INSTANT DOWNLOAD
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Your files are ready to download the moment your payment clears. Nothing is shipped.

Start with the two-page Quick-Start guide. It has the first four steps, what every tab is for, and the honest warnings.

🎬 WATCH THE FULL WALKTHROUGH before you buy, 7 minutes, every file of the real product:
https://youtu.be/Nk_TsbsTVEY

Also in the shop: the Paycheck Budget Spreadsheet, a budget by paycheck planner for biweekly bills, sinking funds and savings, where the extra for the house starts; the Debt Payoff Tracker Spreadsheet, with debt snowball and avalanche for your other balances; and the First Home Buyer Spreadsheet, a down payment and closing cost savings planner.

Questions? Send a message. I read and answer them myself.