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A spreadsheet works until the note does something ordinary: an extra principal payment, a late month, a balloon. Here is what changes, line by line, when the tracking is built for a note instead of a grid.
| Side by side | Spreadsheet | Lend. |
|---|---|---|
| Setting it up | Free, immediate, and yours. An amortization template takes an afternoon and no one has to approve it. | Enter the loan terms once and the schedule is generated, including balloon structures. |
| Recording a payment | You type the date and amount. Accurate as long as you remember, and as long as the row lands in the right month. | ATH Móvil, Zelle and ACH confirmations are read from forwarded email and matched to the loan automatically; manual entry is still there when you need it. |
| An extra principal payment | The remaining rows have to be rebuilt from the new balance. This is where most sheets quietly go wrong. | The schedule recalculates from the new balance and the remaining term updates with it. |
| Interest for the year | A SUM over the interest column, correct only if every row above it is. | Totalled from the recorded payments, and the same figure feeds the year-end forms. |
| What the borrower sees | Whatever you send them, when you send it. Usually a screenshot or a verbal answer. | Their own portal with balance, payment history and what is due next, so the question stops coming to you. |
| Year-end forms | You or your CPA transcribe the totals onto the forms by hand. | Generated from the payment records already in the account. Your CPA still reviews and files them. |
| Cost | Free. | From $15/mo, first 60 days free. |
A spreadsheet is free and fine for a note that never varies. Lend. earns its price the first time yours does.
No credit card. Add your first property or note and see the difference on your own numbers.
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