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Wednesday, April 26, 2017

 

Monthly Payment Calculator &
Amortization Schedule Generator

Calculate the monthly payments and interest on your mortgage!


 
An amortization schedule provides a detailed list of the monthly payments and interest
charges required to pay off your mortgage.

Below is a monthly payment calculator that will generate an amortization schedule based
upon your loan's principal amount, interest rate, and the term of the mortgage in years.

Monthly Payment Calculator &
Amortization Schedule Generator

Principal amount $  
Interest rate (ex. 8.25)   %
Term of loan (in years)  
Additional monthly payment $  
Check box to display an 
 amortization schedule  

    Notes:
  • The principal amount of the loan is the amount of money that you are actually borrowing. Do not include your down payment.
     
  • If the interest rate is 8.25%, enter it as simply 8.25.
     
  • The term of loan is the number of years that it will take to pay it off. For example, for a 30 year loan, enter 30.
     
  • The additional monthly payment is an optional extra amount that you plan to pay toward the principal of the loan each month.

    Making extra payments toward the principal will lower your total interest costs and reduce the length of the repayment term.
     
  • If you check the box to display an amortization schedule, you will be provided with a detailed list of payments along with the interest part of each mortgage payment.

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