This Excel spreadsheet calculates your mortgage payments and generates a payment schedule. Download it free at http://investexcel.net/mortgage-payment-calculator/
It offers all payments schemes (including accelerated weekly and bi-weekly).
You can also change your compounding period for the mortgage interest; this is important because US, Canadian and UK mortgages compound interest a different number of times per year.
The payment schedule is automatically generated, and helps you to budget appropriately.
Get more free finance spreadsheets at http://investexcel.net