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Amortization Schedule Calculator

This amortization 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 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.

Mortgage amount $
Mortgage term in years
or
Term in months
Interest rate per year %
Today's Rates
Mortgage start date
$ Monthly payments

Lock in Monthly Payment of: $ or less

Important information about our rate tables

About our Mortgage Rate Tables: The above mortgage loan information is provided to, or obtained by, Bankrate. Some lenders provide their mortgage loan terms to Bankrate for advertising purposes and Bankrate receives compensation from those advertisers (our "Advertisers"). Other lenders' terms are gathered by Bankrate through its own research of available mortgage loan terms and that information is displayed in our rate table for applicable criteria. In the above table, an Advertiser listing can be identified and distinguished from other listings because it includes a "Next" button that can be used to click-through to the Advertiser's own website or a phone number for the Advertiser.

Availability of Advertised Terms: Each Advertiser is responsible for the accuracy and availability of its own advertised terms. Bankrate cannot guaranty the accuracy or availability of any loan term shown above. However, Bankrate attempts to verify the accuracy and availability of the advertised terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. Click here for rate criteria by loan product.

Loan Terms for Bankrate.com Customers: Advertisers may have different loan terms on their own website from those advertised through Bankrate.com. To receive the Bankrate.com rate, you must identify yourself to the Advertiser as a Bankrate.com customer. This will typically be done by phone so you should look for the Advertiser's phone number when you click-through to their website. In addition, credit unions may require membership.

Loans Above $417,000 May Have Different Loan Terms: If you are seeking a loan for more than $417,000, lenders in certain locations may be able to provide terms that are different from those shown in the table above. You should confirm your terms with the lender for your requested loan amount.

Taxes and Insurance Excluded from Loan Terms: The loan terms (APR and Payment examples) shown above do not include amounts for taxes or insurance premiums. Your monthly payment amount will be greater if taxes and insurance premiums are included.

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Amortization Schedule Help

A mortgage amortization calculator shows how much of your monthly mortgage payments goes toward principal (the money you borrowed), and how much goes toward interest.

Amortization
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.
  • How much time you will chop off the end of the mortgage by making one or more extra payments.

This means you can use the mortgage amortization calculator to:

  • Find out how much principal you owe now, or will owe at a future date.
  • Figure out how much extra you need to pay every month to repay the mortgage in, say, 22 years instead of 30 years.
  • See how much interest you have paid over the life of the mortgage, or during a particular year.
  • Figure how much equity you have.
Calculate your equity

Market value
-  All mortgage debt
= Equity

Example: The Smiths bought a house four years ago. Today, it's worth $200,000 and they owe $120,000 on the mortgage. Their equity is:
$200,000 market value
-  $120,000 mortgage balance
= $80,000 equity

To use the mortgage amortization calculator, enter your mortgage amount, the term in years, the interest rate and the start date. Click on "Show Amortization Schedule."

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