Amortization schedule maker

The following are some of the best and most popular amortization schedule software applications, and websites that offer web-based amortization schedule tools on the Internet.Bankrate.com ( has an amortization schedule calculator that calculates your monthly mortgage payment and shows you the impact of extra mortgage payments on your loan and creates an amortization table. You have to enter the mortgage amount, mortgage term, interest rate, mortgage start date and monthly payments in the input boxes before your amortization schedule can be generated. Loanamortizer.com is a loan amortization and loan management software website. It offers a downloadable evaluation product called LoanAmortizer ( The application utilizes features such as drop-down menus to enter details such as amortization method, contract date and interest rate types to calculate amortization schedules. Math.about.com has an Amortization calculator ( for computing your mortgage when you enter anticipated amount of house, amount of down payment, anticipated interest rate, anticipated length of loan, in years, and start date of loan – a very friendly interface which is quite easy to use.Pine-grove.com has a calculator called "Flexible Amortization Schedule". "Flexible" because any attribute can be adjusted according to one's wish. For example, rates can be adjusted to create ARMs, change payment amounts or skip payments; and the amortization can be copied and printed. Evaluation copies of their Amortization Schedule products - AmortizeIT ( and SolveIT ( - can be downloaded for free. HSH Associates ( a consumer loan information website, features an amortization calculator to generate an amortization schedule (by month or by year) as well the monthly payment for a mortgage paid either monthly or bi-weekly. It is also capable of demonstrating the effects of prepaying your mortgage on an irregular or regular basis. There is also a JavaScript version available.

What Is An Amortization Schedule? An amortization schedule is a table that shows homeowners how much money they will pay in principal (starting amount of the loan) and in interest over time. It shows the regular payment on your mortgage over the years and each payment is applied to the principal balance and interest. An amortization schedule calculator can help you: Determine how much is paid toward your principal balance or interest during any given payment. Calculate how much of your total principal balance and interest have been paid by a particular date. Show how much of your principal balance you owe on a given date. Determine how much time you can cut off your mortgage by making extra payments. How Do You Calculate Amortization? Homeowners can calculate the amortization of their mortgage by plugging their information into an amortization calculator, which uses a formula to calculate your monthly mortgage payments By using an amortization calculator, you can: Calculate principal and interest paid in any particular payment. Calculate the total principal and interest paid on a particular date. Calculate how much principal is owed now or in the future. How Do I Create A Loan Amortization Schedule? Your loan amortization schedule tells you how much you need to make in monthly payments to pay off your mortgage within the term length of the loan. The key number when creating your loan amortization schedule is your monthly payment. Your monthly payment is calculated by taking your current loan amount, mortgage term

$179,858.64.The Total Period is 240 months. Note: The orange numbers denote those periods for which you should have cleared your payments.Read More: Multiple Loan Amortization Schedule Excel TemplateCase 2 – Amortization Schedule with Regular Extra Payment (Recurring Extra Payment)Let’s say your monthly income has gone up and you want to add an extra bi-monthly recurring payment starting from the 24th period to pay off the loan faster. In this case, you’ve chosen to pay $500 for the rest of the loan period.The regular monthly payment remains the same at $1,791.08.The extra, recurring payments and the loan details are shown in the Summary table.The Total Payment (principal + interest) now decreases to $396,277.94.The Total Interest Paid drops to $146,277.94, creating an Interest Savings of $33,630.69.The Total Period is reduced to 16 years 5 months, or 197 months.Read More: Excel Car Loan Amortization Schedule with Extra Payments TemplateCase 3 – Amortization Schedule with Irregular Extra PaymentsLet’s assume that you’ll make the following payments as given below.PeriodIrregular Extra Payment29$10,00042$10,00055$25,00060$15,00070$10,000Input that information in the provided template and see the results.The monthly payment remains $1,791.08.The extra, irregular payments and the loan details are given in the Summary table.The Total Payment (principal + interest) decreases further to $342,580.08.The Total Interest Paid also decreases to $92,580.08 with the Interest Savings increased to $87,278.56.The Total Period drops to 11 years, 5 months, or 137 months.Read More: Amortization Schedule Excel Template with Extra PaymentsPractice SectionWe have provided a Practice Section on the right side of each sheet so you can practice yourself.Download the Practice WorkbookYou can download the practice workbook from the link below, which you can use as a template.Related ArticlesPreparing Bond Amortization Schedule in ExcelExcel Interest Only Amortization Schedule with Balloon Payment CalculatorAmortization Schedule with Balloon Payment and Extra Payments in ExcelExcel Car Loan Amortization Schedule TemplateExcel

Understanding the Amorization CalculatorWhen it comes to managing your finances and getting a grip on your loan payments, an amortization calculator is your best friend. Whether it’s spelled as ‘ammortization calculator’, ‘amoritization calculator’, or ‘amorization calculator’, this tool helps you see how each payment affects both the principal and the interest over time.What is an Amortization Calculator?An amortization calculator, commonly referred to as an amortization calc, is a financial tool designed to calculate the regular loan repayments required to pay off a mortgage or other types of loans over a set period. By using this tool, you get a detailed amortization schedule that breaks down each monthly payment into principal and interest components.How Does an Amortization Calculator Work?This calculator works by asking for some basic input variables like the loan amount, interest rate, and loan term. Once you input these, the calculator applies the amortization formula to generate a payment schedule, showing how much of each payment goes towards the principal and how much goes towards interest. This schedule helps borrowers visualize the declining principal over time, which in turn provides a clear picture of the loan’s true cost.Top 5 Brands Offering the Best Amortization CalculatorsMortgageCalculator.orgMortgageCalculator.org stands out for its user-friendly and accurate amortization calculator. Users can input various loan parameters and view both monthly and annual amortization schedules. The interface is intuitive, making it an excellent choice for all borrowers, whether you’re a novice or an expert.Bankrate Amortization Schedule CalculatorBankrate’s calculator not only provides detailed amortization schedules but also

Amortization Terms Used in This Article1. Original Loan Terms (Years): The total time taken to pay off the loan.2. Original Loan Amount: The principal amount that you’re borrowing from the bank.3. Annual Percentage Rate (APR): This is the interest rate. It is also known as nominal/stated interest rate.4. Payment Type: Payment types can be either at the End of the Period or at the Beginning of the Period.5. Payment Due: Number of payments in a year. Payments are commonly made monthly but you can choose other payment frequencies as shown in the table below.Interest CompoundedPayment Made AfterPayment FrequencyWeekly7 Days52Bi-weekly14 Days26Semi-monthly15 Days24Monthly1 Month12Bi-monthly2 Months6Quarterly3 Months4Semi-annually6 Months2Yearly12 Months16. Interest Compounded: When is interest applied to the current outstanding loan. It typically follows the payment frequency but can be different.Other terms such as the Extra Amount You Plan to Add, Extra Payment (Recurring) Pay, and Extra Payment Starts from Payment No. should be self-explanatory.3 Ways to Calculate Amortization Schedule with Irregular PaymentsWe’ll cover three of the most common ways to pay off a loan:Amortization Schedule with Regular Payment (PMT)Amortization Schedule with Regular Extra Payment (Recurring Extra Payment)Amortization Schedule with Irregular Extra Payment (Irregular Extra Payments)The template provided below will have information fields you can use for every case.Case 1 – Amortization Schedule with Regular Payment (PMT)Consider the following scenario:Loan Amount is $250,000.Loan Term over 20 years.Annual Percentage Rate (APR) of 6%.Payment Type involves paying at the End of the Period.Payment Frequency is Monthly.You want to know what your monthly payment will be.Enter the information in its respective cells and the amortization schedule will be generated as shown in the picture below.The monthly payment is $1,791.08 and you’ll find the additional loan details in the Summary table.The Total Payment (principal + interest) is $429,858.64.The Total Interest Paid over the maturity of the loan is

In years, interest rate per year and the state you reside in and inputting that information into the amortization schedule calculator. How To Use An Amortization Schedule Calculator To use our amortization schedule calculator, you will need a few pieces of information, including the principal balance for your mortgage, your annual interest rate, the term of the mortgage and your state of residency. You can also enter additional payments to see how this affects your overall mortgage length. This calculator can help you determine: How much principal you owe now or will owe in the future. How much extra you need to pay in order to reduce mortgage length. How much equity you have. Amortization Calculator Results Explained Once you enter all the necessary information into the amortization calculator, it will yield several results such as the monthly payment, total remaining balance, total principal and total interest paid. To determine these results, the calculator uses these numbers: Loan amount: The loan amount is the principal balance of your mortgage that you owe to the lender, not including interest. Interest rate: This is a percentage of the loan amount borrowers must pay in addition to the cost of the mortgage. Loan term: The loan term is the amount of time it will take to pay back the mortgage. The monthly payment for your mortgage will initially cover the interest, and then slowly subtract the money you owe on your home loan over time. However, it's important to note that this doesn’t