Online loan amortization table
This calculator will figure a loan's payment amount at various payment intervals -- based on the principal amount borrowed, the length of the loan and the annual interest rate. Then, once you have computed the payment, click on the "Create Amortization Schedule" button to create a printable report. You can then print out the full amortization chart. No one factor affects the cost of purchasing a house more than length of the loan.
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In just 4 simple steps, this free mortgage calculator will show you your monthly mortgage payment and produce a complete payment-by-payment mortgage amortization schedule. You can also see the savings from prepaying your mortgage using 3 different methods! A mortgage amortization calculator shows how much of your monthly mortgage payment will go toward principal and interest over the life of your loan.
The loan calculator also lets you see how much you can save by prepaying some of the principal. With HSH. Your initial display will show you the monthly mortgage payment, total interest paid, breakout of principal and interest, and your mortgage payoff date. Most of your mortgage loan payment will go toward interest in the early years of the loan, with a growing amount going toward the loan principal as the years go by - until finally almost all of your payment goes toward principal at the end.
To see this, click on "Payment chart" and mouse over any year. Clicking on "Amortization schedule" reveals a display table of the total principal and interest paid in each year of the mortgage and your remaining principal balance at the end of each calendar year. Now use the mortgage payment calculator to see how prepaying some of the principal saves money over time. The calculator allows you to enter a monthly, annual, bi-weekly or one-time amount for additional principal prepayment.
Of course you'll want to consult with your financial advisor about whether it's best to prepay your mortgage or put that money toward something else, such as retirement. This is the dollar amount of the mortgage you are borrowing. Hitting "tab" after entering information in any field will automatically update the calculations. The loan's interest rate. Along with the term, this is the key factor used by the mortgage payment calculator to determine what your monthly payment will be.
To see where rates are right now, click on the "See today's average rates" link to the right of the field, where you can also find offers from our advertising partners. Mortgage loans come in a range of terms. Fixed rate mortgages are most often found in 30, 20, 15 and year terms; Adjustable Rate Mortgages usually have total terms of 30 years, but the fixed interest rate period is much shorter than that, lasting from 1 to 10 years.
To get the most accurate calculations, use the month and year in which your very first mortgage payment was due or will be due. If you don't yet have a mortgage, the current month and year will work just fine.
This display shows the monthly mortgage payment, total interest paid, breakout of principal and interest, and your mortgage payoff date. This display shows you the total principal and interest paid in each year of the mortgage and your remaining principal balance at the end of each calendar year. In this optional section, you can add in a regular monthly prepayment amount, re-set the calculator to show bi-weekly payments and savings, or even do a one-time prepayment to see how it affects the cost of your home loan.
Ever wondered how two loan choices compare against one another, or how much of a difference in interest cost a quarter of a percentage point change in the loan's interest rate makes? Our loan comparison feature makes it simple to see these costs in a side-by-side presentation.
In fact, you can compare up to four different loan scenarios at once! Step 1: Select a base loan against which you want to compare. Add these values into the calculator fields and press tab or click the "Calculate" button. The results will display on the screen. Step 2: Click the blue "Add result to compare" button. You'll see a change show up in the "Compare results 1 " button just next to it. Step 3: Select another set of loan terms to compare.
Step 4: Click the blue "Add result to compare" button. You'll see a change show up in the "Compare results 2 " button just next to it.
You're now ready to compare two loans! Click the "Compare results 2 " button and you'll be presented with a side-by-side comparison of loan costs from your two choices. To see a complete breakout of costs for each one, scroll down the screen to locate a "See Details" link. Even after you've reviewed these two comparisons, you can use the "Return to calculator" button to add up to two more loan scenarios to compare. Click it to return to the main calculator screen.
As before, now click the blue "Add result to compare" button. You'll see a change show up in the "Compare results 3 " button just next to it. Now click the "Compare results 3 " button and see how much a simple monthly prepayment will save you in interest cost.
If you want to start all over again and clear all loan comparisons, simply click the "Reset" button that appears on the bottom of the calculator screen. If you do compare four loan scenarios, you can return to the calculator by pressing the "X" in the upper right hand corned, just next to the fourth scenario.
Or, if you prefer, you can click the "Reset" button at the bottom of the comparison screen, clear out all your entries and start again. We urge you to play around with various scenarios, compare different loan types and terms and prepayment schemes to see the effects. Note: When comparing fixed-rate versus adjustable rate programs, please know that the projected interest costs over the full term are based only on the initial interest rate. The ARM's interest rate will most certainly be different after the fixed-rate period ends, and so the actual loan costs will be different than what is presented over the full length of the loan.
NOTE: This calculator updates automatically as you move from field to field using the "tab" key. If you're entering prepayment information, click the "calculate" button to see the final results. Mortgage Calculator. Go to Calculator. Mortgage calculator - calculate payments, see amortization and compare loans In just 4 simple steps, this free mortgage calculator will show you your monthly mortgage payment and produce a complete payment-by-payment mortgage amortization schedule.
Guide to our mortgage calculator Mortgage calculator input definitions Using loan comparison feature Guide to our mortgage calculator. How to use the loan amortization calculator With HSH. Calculate Click "calculate" to get your monthly payment amount and an amortization schedule.
The effect of prepayments Now use the mortgage payment calculator to see how prepaying some of the principal saves money over time. Mortgage calculator input definitions. Loan amount This is the dollar amount of the mortgage you are borrowing. Interest rate The loan's interest rate. Loan term Mortgage loans come in a range of terms. Payment details This display shows the monthly mortgage payment, total interest paid, breakout of principal and interest, and your mortgage payoff date.
Payment chart This display shows you the total principal and interest paid in each year of the mortgage and your remaining principal balance at the end of each calendar year. Using loan comparison feature. To use the loan comparison feature, follow these simple instructions. Mortgage Calculator Loan Amount. Interest Rate.
Loan Term Term cannot be less than 5. Please enter year greater than Bi-weekly Yes No No. Annual Please enter value greater than 0.
Add to calculate. Your Payment -. Compare with another loan. Other Total Monthly Payment Components. Homeowners Insurance. Property Tax. HOA Dues. Total Principal -. Interest -. Total interest -. Your Estimated Payoff Date. Years -. Months -. Total of - payments -. Payment Chart Amortization schedule View Comparison 0. Principal Interest Balance. Back to calculator. Principal and interest portions for the initial payment.
These change as the loan progresses. Click on "See Details" for payment-by-payment breakout of amortization schedule. Due to rounding, interest costs among comparisons with annual and biweekly prepayments may differ by a few cents. Back to Comparison. Related Calculators. Add to Homescreen?
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Amortization is paying off a debt over time in equal installments. Part of each payment goes toward the loan principal, and part goes toward interest. Calculator Rates. Loan Amortization Calculator. This calculator will figure a loan's payment amount at various payment intervals -- based on the principal amount.
This calculator will compute a loan's payment amount at various payment intervals -- based on the principal amount borrowed, the length of the loan and the annual interest rate. Then, once you have computed the payment, click on the "Create Amortization Schedule" button to create a chart you can print out. Enter the loan amount in the calculator if you know how much you will finance. At the bottom of the calculator you can choose to create a share link for your calculation.
Your amortization schedule will show you how much of your monthly mortgage payments you spend toward principal and interest.
In just 4 simple steps, this free mortgage calculator will show you your monthly mortgage payment and produce a complete payment-by-payment mortgage amortization schedule. You can also see the savings from prepaying your mortgage using 3 different methods!
Amortizing Loan Calculator
While the Amortization Calculator can serve as a basic tool for most, if not all, amortization calculations, there are other calculators available on this website that are more specifically geared for common amortization calculations. There are two general definitions of amortization. The first is the systematic repayment of a loan over time. The second is used in the context of business accounting and is the act of spreading the cost of an expensive and long-lived item over many periods. The two are explained in more detail in the sections below.
Loan Amortization Calculator
An amortization calculator can show you how your principal and interest are paid over the life of your loan, and how much you can save by making additional mortgage payments. Learn more. Quicken Mortgage Amortization Calculator An amortization calculator can show you how your principal and interest are paid over the life of your loan, and how much you can save by making additional mortgage payments. Learn more Current Loan Amount:. Additional Payment Amount:. Year Call or fill out this form now. How much do you want to borrow?
This amortization schedule calculator allows you to create a payment table for a loan with equal loan payments for the life of a loan.
Then keep reading. All the options are explained below. Click, copy, paste this URL to save the inputs for yourself or to share with others. Paste it into a browser's address bar to reload.
Mortgage Calculator
Amortization is paying off a debt over time in equal installments. Part of each payment goes toward the loan principal , and part goes toward interest. With mortgage amortization, the amount going toward principal starts out small, and gradually grows larger month by month. Meanwhile, the amount going toward interest declines month by month for fixed-rate loans. Your amortization schedule shows how much money you pay in principal and interest over time. Use this calculator to see how those payments break down over your loan term. Compare rates with confidence. Rates are accurate and available as of the date seen for Bankrate customers. Identify yourself as a Bankrate consumer to get the Bankrate. An amortization schedule is a table that lists each regular payment on a mortgage over time.
