Table of Contents
- 7 Steps on How to Make a Loan Worksheet
- 9+ Loan Worksheet Templates
- 1. Student Loan Worksheet Template
- 2. Loan Worksheet Example in PDF
- 3. Student Loan Worksheet Template
- 4. Home Equity Loan Worksheet Example
- 5. Financial Loan Appeal Worksheet Template
- 6. Sample Student Loan Worksheet
- 7. Loan Deduction Worksheet Example
- 8. Loan Review Worksheet Template
- 9. Sample Loan Comparison Worksheet Template
- 10. Loan Processing Worksheet Template
9+ Loan Worksheet Templates in PDF | DOC
A loan refers to the situation between a borrower and a lender where the borrower borrows something, especially money, from the lender. A loan worksheet is used to calculate the loans that have to be paid by a borrower. Such worksheets are made with the help of Loan Worksheet Templates. A loan worksheet’s main purpose is to keep track of all the details regarding the loans.
7 Steps on How to Make a Loan Worksheet
Step 1: Check for Eligibility
Before you start making the loan worksheet, you need first to find out if your client or borrower is eligible to apply for the loan or not. Every loan agency has a set list of criteria that the borrower needs to match. The general ones include the age, the income, and the profession of the person, and the maximum loan limit. However, besides these, your agency might have other criteria too. Check if the individual can borrow the money or not.
Step 2: Approve the Loan
A person does not get a loan by just saying that he or she needs the money. The lender needs to approve the loan before the worksheet can be made. To approve the loan, the borrower needs to check all the criteria in the eligibility list. Once that is done, you as the lender may approve the loan. However, there are other grounds too based on which you can opt not to approve it. These grounds depend on your agency’s preferences.
Step 3: Mention Monthly Payments
The loan that the borrower lends needs to be repaid with interest. This payment needs to be done in the form of monthly installments. The lender generally decides the monthly payments that need to be done by the borrower. However, in some cases, the lender may allow negotiations to determine the amount. Before you proceed to make the worksheet, make sure that both you and the borrower agree to and are aware of these payments.
Step 4: Select the Software
There is a wide range of software applications available to be used to make the loan worksheet. These include Google Sheets, Numbers, Publisher, MS Word, and MS Excel. The most widely used application is Excel as it is the most user-friendly. In the case that you do not have Excel installed on your digital platform, you can make use of the Excel extension in Outlook. Once you spend the application, you need to create a Blank Workbook.
Step 5: Make the Columns
The next step is to make the columns in the new worksheet. To do that, first, you need to think about the items that you want to include in the worksheet. Generally, the columns that are inserted in the loan worksheet include the loan amount, annual interest rate, the monthly payments, the number of payments per year, the sum of the payments and the interest cost.
Step 6: Input the Values
Once you have made the columns in the worksheet, you need to input the values accordingly. For example, the number of monthly payments that the borrower would be making annually needs to be mentioned in the number of payments section. Respectively, the loan amount refers to the total amount, the annual interest rate refers to the interest rate to be added to the monthly payments, and so on.
Step 7: Specify the Total Cost and Total Interest Cost
The last step of making the loan worksheet is to calculate and include the total cost and the total interest cost. To determine the total cost, you need to multiply the total number of payments with the amount to be paid per month. To calculate the total interest cost, you need to deduct the initial loan amount from the total loan cost.
9+ Loan Worksheet Templates
1. Student Loan Worksheet Template
neosho.eduStudent loans are applied when a student needs to borrow money to fund his or her education. To make a loan worksheet for student loans, we are offering you this sheet template that has been solely created to make worksheets for student loans. To use this template you need to download it in PDF format. The template is fully editable and printable.
2. Loan Worksheet Example in PDF
dcu.orgAre you a rookie at making loan worksheets? Then we would suggest that you take a look at this sheet template example that we are offering before you start working on your own. This template provides you with an example of a loan worksheet that you can use as a guide to making your own. Or you can also edit the file and fill in the necessary details to use the template.
3. Student Loan Worksheet Template
whatcom.eduMost students do are capable of funding their education. Which is why student loans are provided to help them with financial aid. If you want to make a proper loan worksheet, then you can make use of this worksheet template that we are giving. This template will help you make good loan worksheets that are suited to your needs.
4. Home Equity Loan Worksheet Example
occ.treas.govIn certain situations, collaterals are provided for loans. In the case of a home equity loan, the borrower uses the equity of his or her home as the collateral. Do you want to make worksheets for your home equity loans? Then you need to download this sheet template sample. This template comes with a file containing a sample home equity loan just for your benefit.
5. Financial Loan Appeal Worksheet Template
atlantic.eduA loan appeal is made by a borrower when the borrower needs financial aid and has to request it. A loan appeal worksheet calculates the total loan to be paid. You too can make a similar worksheet for your requirements if you just make use of this loan worksheet template. The template is compatible with both Mac and Windows operating systems.
6. Sample Student Loan Worksheet
sunycgcc.eduWith this loan worksheet template, you can get your hands on a file containing a sample of a student loan worksheet. The template features original headings and content written by professional writers. The template also provides blanks for providing the necessary information of the student as well as the loan. You can download the template easily on your PC from anywhere, anytime.
7. Loan Deduction Worksheet Example
thetaxbook.comThe taxes and interest that are levied on a loan amount are sometimes deductible, depending on situations. In such cases, you need to make a loan deduction worksheet. And to help you with that task, we are providing you with this loan sheet sample template that has been specifically designed to make worksheets for loan payment deduction.
8. Loan Review Worksheet Template
sba.govA loan review is done to make an assessment of the loan portfolio provided to know is it is of a substantial-quality or not. Making a loan review worksheet helps to determine payment risks. Are you facing difficulty in making the loan review for your agency? Then this basic worksheet template is just the thing for you! The template provides a blank worksheet that just needs you to fill with the required information.
9. Sample Loan Comparison Worksheet Template
hampshire.eduA loan comparison worksheet is used when the borrower is not sure which agency to ask the loan from. The worksheet allows the individual to compare the different lenders available and then draw conclusions accordingly. If you are looking for a tool to help you make this worksheet, then you are in luck!. This sheet template has been built just for this task. You can also use the file to make daily worksheets.
10. Loan Processing Worksheet Template
masshousing.comIt is the responsibility of the loan processor to prepare and organize the loan file and to get it to the bank lender for approval. Do you want to make sure that your loan processor worksheet is reliable and accurate? Then what are you waiting for? Download this loan processing worksheet template now! There is no better tool than this template to make a loan processor worksheet.
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