Mortgage Calculator – Loan Amortization
This mortgage calculator will help you determine how much of your monthly payment will go toward the principal and how much will go toward the interest. You can also use this mortgage calculator to create a printable amortization table for your loan and to estimate the monthly payments on your mortgage. Simply fill in the fields below and click on calculate.
Amortization Schedule Help
A mortgage calculator shows how much of your monthly mortgage payments goes toward principal (the money you borrowed), and how much goes toward interest.
- 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 a mortgage, 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.
The amortization schedule calculator shows:
- How much principal and interest are paid in any particular payment.
- How much total principal and interest have been paid at a specified date.
- How much principal you owe on the mortgage at a specified date.
This means you can use the mortgage calculator to:
- Find out how much principal you owe now, or will owe at a future date.
- See how much interest you have paid over the life of the mortgage, or during a particular year.
- To use the mortgage amortization calculator, enter your mortgage amount, the term in years, the interest rate and the start date. Click on “Calculate.”