Amortization Calculator

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Instructions:

Change any or all of the top 3 fields in the calculator, and then click on the "Amortize Now" button to calculate

Allow about

3 to 5 seconds

for the amortization to calculate your custom table.

The following pay back terms

are typically offered by home

loan lenders:

480 Months = 40 Years

360 Months = 30 Years

300 Months = 25 Years

240 Months = 20 Years

180 Months = 15 Years

120 Months = 10 Years

DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this mortgage amortization chart calculator information or it's applicability to your financial situation.  Please consult your own financial advisor.

How to create an amortization table

Click inside each input box in the bar above and use the backspace button and/or the delete key to erase the number.  Then type in your information to change the loan amount, interest rate or the number of months using this online amortization calculator.  The accuracy and applicability of this amortization calculator is not guaranteed, actual values may vary slightly.
 

Various definitions of Amortization

The gradual elimination of a liability, such as a mortgage, in regular payments over a specified period of time. Such payments must be sufficient to cover both principal and interest. The gradual reduction of a debt by means of equal periodic payments sufficient to meet current interest and liquidate the debt at maturity. When the debt involves real property, often the periodic payments include a sum sufficient to pay taxes and hazard insurance on the property.

Amortization:

A term used to describe the process of paying off a loan over a predetermined period of time at a specific interest rate. 1. The amorzation of a loan includes payment of interest and a portion of the outstanding principal balance during each payment cycle.  2. The gradual reduction of a loan debt by periodic installment payments (usually monthly) of principal and interest.  3. Payment of a debt in regular, periodic installments of principal and interest as opposed to interest only payments.  4.  To repay a loan, for example, a mortgage, by means of a series of small payments, usually a combination of principal repayment and interest charges, rather than one lump sum at the end of the term.

Amortization Chart:  

A table of pre-calculated factors that enable you to figure the monthly payment which includes principal (original loan) plus a interest (carrying charge or fee). 

Amortization Schedule:

Provided typically by mortgage lenders, the schedule shows how over the term of your mortgage the principal portion of the mortgage payment increases and the interest portion of the mortgage payment decreases.  If you need a more detailed amortization schedule than the web calculator at the top of this page, call 818-878-9538 and give us the loan amount, interest rate, and date of first payment and we will email a adobe PDF file to you. No obligation, California properties only.