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Homeownership is the American Dream and it is a dream that belongs to everyone. When you decide to purchase a home, you are really signing on for a long term commitment. A commitment that is often as long as 15, 20 or even 30 years. When you start making those mortgage payments, almost all of your payment will go to the interest portion of the loan. It can be a little overwhelming for anyone to see just how much of your mortgage payment goes to the interest and how little goes to the principal balance at first.
So, do you know where you stand with you home mortgage loan? If you financed your loan through a lender and your home loan was obtained on or after July 29th, 1999, then you are probably fimiliar with an Amorization Schedule. The Homeowners Protection Act now requires all mortgage lenders to give you a written initial amortization schedule (fixed rate loans only) at loan closing. If you didn't finance your mortgage through a lender or you just simply misplaced your original amortization schedule, then you should print one right now. An amortization schedule is a very important tool and our Mortgage Amortization Schedule Calculator will calculate the breakdown of each payment during your loan term at any given time. By using this calculator, you will be able to see exactly how much of your payment goes to the principal balance and how much will go to the interest portion of the loan and it will also create a printable version for you. This information and breakdown of your mortgage payments will help ensure you are paying down your mortgage in the best way.
There are a lot of different scenarios with home loans, so use our Mortgage Amortization Schedule Calculator below to help you calculate the breakdown of your mortgage payment. See just how much of your payment will go to the principal balance and how much will go to in interest - based on the loan amount, interest rate and length of the loan that you provide. |
Mortgage Amortization
Schedule Calculator |
| | Please enter the loan amount (e.g. 100000), the interest rate (e.g. 4.50) and the number of years that you pay on the loan. |
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| * This calculator is considered reliable, but results cannot be guaranteed. |
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