Change any or
the top 3 fields in the calculator, and then click on the "Amortize Now" button to calculate
3 to 5 seconds
for the amortization to calculate your custom table.
The following pay back terms
are typically offered by home
480 Months = 40
360 Months = 30
300 Months = 25
240 Months = 20
180 Months = 15
120 Months = 10
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.
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.
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.
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).
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.