Popular States

JASON

2009-02-24 14:30:00

AWESOME SITE!!!! VERY HELPFUL. THANKS

Mr.Richmond

2009-02-20 02:30:00

Thanks for this resource; I use it frequently. Enjoy your day!

Malvin E Howlett

2009-01-10 17:37:00

Great and appreciated site.

Guy R.

2009-01-09 08:22:00

first of the new year!! this is a really great site it help me in my finace class sooo much with morgages, amortization and all that good stuff

Maarten van der Puijl

2008-12-19 13:24:00

I am in Switzerland and I use this site. Go figure! Thanks!

Ginny Perrine

2008-12-11 19:43:00

I can't believe how fantastic this site is to use.....Easy, accurate and extremely helpful in figuring out refinancing, mortgages, amortization, etc. TY

Chad

2008-12-10 20:07:00

I appreciate this tool being available. But I am also curious to know if you have caught your error in the reply to Janice's comments from 11-29-2008. The total of the payments over the twelve year period equal $256,495. This amount is the principle and the intrest paid correct. - - - EDITOR'S COMMENTS: BUSTED!! You got me, Chad. It should have been $256,495. Thank you, Chad. Sorry about that, Janice!

Janice

2008-11-29 08:48:00

If I have a loan for 190,000 at 5.25% how large a payment would be required to pay off in 12years? - - - - EDITOR'S REPLY: If you take out a 12-year loan today at 5.25% interest, your monthly payments will be $1,781.21. At the end of the twelve years, you will have paid off the entire loan (the orignal $190,000 plus an additional $256,495 in interest).

shannon

2008-11-29 07:34:00

So many great tools with this calculator!!!

carol brooks

2008-11-27 20:15:00

I've used the mortgage calculator to estimate payments on a 10-year fixed loan of $55,000. Can I see the actual monthly amounts applied to principal and interest for the 10-year period? - - - - EDITOR'S REPLY: When you first hit, "Compute," the results page shows you the total interest, the total principal (which is the loan amount) and the total payments (interest plus principal for the life of the loan. From there, click "View Amortization" to see a break down of each monthly payment (all 120 of them, in your case). For each month's payment, the amortization table shows you how much of that payment goes to prinicipal and how much goes to interest. At first, almost everything goes to interest. Each month, a very slighly higher percentage goes to principal.

Sharon

2008-11-22 09:29:00

Finally a great site. No ordering, no personal info required. Thanks

liz

2008-11-11 15:29:00

If given a loan for $150,000.00 at 7% rate paying $5,000.00/month, how long till this loan would be paid off? - - - EDITOR'S REPLY: The answer is 2.75 years (two years 9 months). I calculated this by putting $150,000 at 7% in the Amortization Calculator and then playing with the repayment period until I got the results to show a monthly payment of $5,000. In many parts of the country, you can buy a nice house for $150,000. If you can pay off a home in less than three years, I applaud you. For the amount you will save on interest versus a 30-year loan, you would be able to buy a second home that costs even more than the first. Most people don't realize that when they buy a house they're actually paying more in interest than they are for the home itself. Just be sure to work the 33-month repayment period into the loan agreement. If not, you should ensure that your loan agreement does not include any penalties for early payoff.

DMongo

2008-11-09 13:08:00

This great tool just kicked my Finance homework through the goal posts.

Jennifer

2008-11-02 21:58:00

I need to know how many payments it will take to pay off $6000 at 9% interest making payments of $150 per month starting in Sept. 06? - - - - EDITOR'S COMMENT: See the reply to Jim Schaaf's question below. Using the Amortization Calculator, it shouldn't take you more than two or three minutes to figure this out.

John Fletcher

2008-10-23 10:44:00

Looking for calculator that will take additional principal payments per month. Existing amortization schedule does a good job on figuring monthly payment. - - - EDITOR'S COMMENT: Try the "Early Payoff Calculator" (go the home page and scroll down to find it). It approaches your problem in the opposite way you specified here but can still help you. It will just take a few attempts to adjust the new term until it delivers the extra monthly payment you had in mind.

Patsy

2008-10-10 11:34:00

Thanks

Jim Schaaf

2008-10-05 11:53:00

I need an amortization calculator that will let me enter: "Principle," "Interest Rate," and "Monthly Payment" (not repayment period). - - - EDITOR'S COMMENT: The Amortization Calculator should work for you. Start by estimating what the repayment period will be as best you can, then look at the monthly payment it gives you. If the payment is too high, recalculate with an higher repayment period (and vice versa). You'll do this a few times, narrowing down til you get as close as you can to your actual monthly payment. You won't be able to match your exact monthly payment with any calculator unless you want to take out a loan with a repayment period of something like 22 years, 4 months and three days. But you can put in decimals if you'd like, such as 1.5 for an 18-month loan. Once you find the loan term that produces the desired monthly payment, click "View Amortization" to see the full amortization table for that loan. All in all, this process shouldn't take you more than two or three minutes.

Chuck Root

2008-10-03 16:17:00

I needed this info for my financial class in Sunday School... it worked great. Thanks and God bless. - - - EDITOR'S COMMENT: Thanks for sharing that. Glad to help!

jaymark gerodias

2008-09-30 08:48:00

i lyk it! - - - - EDITOR'S COMMENT: thanx!

Shawn

2008-09-30 07:43:00

Nice calc. very fast too. Am wondering if you can incorporate additional principal payments too for side by side comparisons - - - EDITOR'S COMMENTS: We'll look into that. Nice suggestion.

Phil Butler

2008-08-15 09:05:00

Wow! This is great. Fast, easy and to the point!

Bob

2008-08-13 06:54:00

typo - "Pincipal Balance" on amortization schedule display. - - - EDITOR'S REPLY: Thanks, Bob. So often it's true that those who are good at math are terrible at spelling. Thanks for helping me keep an eye out for my errors. I'll fix that right away.

H.L.WANG

2008-08-05 19:37:00

Dear Sir, Where can I calculate the loan with adjustable rate and amortized table shown as well. Thank you. From Wang - - - EDITOR'S REPLY: This is a good question; thanks for sumbitting. Until the first adjustment takes place, there's no difference between a Fixed Rate loan and an Adjustable Rate Loan (ARM). So, if you're entering into a new ARM that has its initial adjustment period set to take place on the 25th month of the loan, then the Calculators4Mortgages monthly payment calculator and amortization schedule will be a good tool for calculating your payments and the application of principal and interest for the first two years. After that, there's no way to be accurate in predicting what your interest rate could be, except that it will be somewhere in the range of no adjustment and the maximum adjustment allowed by your loan. It could change a lot, or a little, or stay the same. It could go up. It could go down. There are some tools online that help you run best- and worst-case scenarios, but we haven't been sold on the value of these enough to justify building one. We'll brainstorm on this topic in our next meeting. Thank you for your question. I hope this reply was helpful.

Marsha

2008-07-25 19:01:00

Site really helped us decide if we could afford a beach house. Thanks

Linda Sylvain

2008-07-24 09:23:00

For each $100 i pay every month as additional principal, how many years does it take off the term of my mortgage? - - - - EDITOR'S COMMENTS: Please see the answer to Barbara's question under the "Additional Payments Calculator," which you can link to from the home page. You'll need to run the calculator a few times, adjusting the payoff date until it calculates a result of $100 per month. We will design a new calculator to answer your question more directly, but perhaps the "Additional Payments Calculator" will work for you in the mean time.

Neha Garg

2008-07-16 02:01:00

I want to know the amount of principle & interest. - - - - EDITOR'S COMMENT: No problem, Neha! On the initial results screen, the total principal and interest for the loan is displayed. "Original Loan Amount" is, of course, your principal. "Total Interest Payments" appears below that, followed by "Total Payment," which is the sum of principal and interest for the life of the loan. To see the principal and interest at any given point in the life of the loan, click on "View Amortization." Please let us know if you have any questions.

clayton

2008-06-24 05:02:00

this is great site, keep it up - - - EDITOR'S REPLY: Thanks, Clayton. Will do!

michael

2008-06-19 11:02:00

made a loan amortized and payable in 5 years. Buyer has been making payments, sometimes more, sometimes late (w/ fees) at a fixed interest. How do I figure out how much they owe after all these creative numbers? Thank you. michael.lewin@sbcglobal.net - - - EDITOR'S REPLY: For some loans, extra payments are applied directly to principal. Other loans are not so accommodating. Exactly what the lender does with extra payments will vary from loan to loan (which is yet another reason to read all paperwork carefully before borrowing). Details regarding late fees also vary from loan to loan. The buyer should receive a statement from the lender showing the principal amount remaining. Any attempt to calculate this with a formula, given the irregularity of the payments they've made, would not be very accurate.

YH

2008-06-18 11:44:00

great calculator

MIKE

2008-05-22 09:24:00

Fast & Easy!!!

Peggy

2008-05-13 06:07:00

Just running some numbers

jeanette snyder

2008-04-23 14:23:00

yeah

jeanette snyder

2008-04-23 14:22:00

I used this to help with my homework

Cynthia

2008-04-11 20:36:00

I was hoping for an actual "Amortization" break-down??, but all I got was Total of payments, & Total interest. - - - - EDITOR'S COMMENT: This feature has now been added.

André

2008-04-09 08:21:00

I need the amortization table, please. - - - - EDITOR'S COMMENT: This feature has now been added. After seeing the initial results screen, you can click "View Schedule" and the full amortization schedule will appear in a new window. Thank you for the suggestion.

shelby

2008-04-09 07:21:00

this is such a great site i use it all the time. thanks

Buffy Berryhill

2008-04-02 12:01:00

I would like to amortization schedule for bi-weekly payments. - - - EDITOR'S COMMENT: We'll put this in the development queue. If you're paid bi-weekly, it's a good idea to look into arranging bi-weekly payments schedule with your lender. Make sure to review the terms and ensure that there are no early pre-pay penalties or other fees to offset the reduction in interest you'll be paying over the life of the loan. If your lender will allow you a proper bi-weekly payment plan, you'll build pay off your principal quicker (thus building equity faster).

Joyce

2008-03-29 05:15:00

This really helped me make a decision about how many years to finance. Thanks!

marty

2008-03-04 14:16:00

thanks, It helped to figure some quick rough numbers on a possible opportunity. EDITOR'S COMMMENT: Thank you, Marty. We wish you success in your pursuit!

Mindy

2008-03-02 05:45:00

This was good to check on payments but I was looking for the Amortization per month. I would like to know what my principal balance would be each month if I pay down the principal with each payment. EDITOR'S COMMENTS: Sorry, Mindy. We offer our calculators to other websites at no charge, and so we've standardized each of our calculators to the same small, consistent size. Unfortunately, we can't fit a full amortization schedule in there. So, this is something we may offer in the future, but it's not something we're working on at present.

kathi

2008-02-25 12:35:00

Can you modify site to also include payment amount - then a person could plug in 3 lines and it would compute and tell you the 4th (or missing one)? Example: If I had the loan amount, interest rate and payment amount, it would calculate the repayment period. EDITOR'S COMMENTS: Great suggestion. We'll take a look at this idea in more detail. We want the calculators to be very easy to use with little to no instruction. In this case, people might naturally think they need to fill in all four fields. But I think there is value in helping people determine either the payment amount OR the repayment period, as you have suggested. We'll explore ways to accommodate that. Thank you for sharing!

Jean

2008-02-18 04:29:00

I am interested in seeing an amortization schedule on a car loan. EDITOR'S REPLY: Good suggestion - but we've devoted this site to mortgage calculators only. Try www.autosite.com (no affiliation). You should find a link to their car loan calculator toward the bottom of their home page under "Car Financing".

Don Schmidt

2008-01-28 10:32:00

Great site easy to use.

susan

2008-01-26 14:47:00

thanks

Richard Alex

2008-01-26 09:44:00

Fast and GREAT. Thank you

Jessica

2008-01-25 05:43:00

we are using this in school. it is very helpful

Travis

2008-01-24 18:08:00

Great Calculator

Dave C

2008-01-20 20:20:00

Is it possible to enter the number of months you want to pay and see how much your payment each month would be based upon a principal and an Interest rate? EDITOR'S REPLY: You can do this by adjusting the repayment period. Just convert your months to years. For example, 42 months should be entered as 3.5 years.

Charlie

2008-01-14 16:23:00

Its so nice to find someones site that says FREE and really is. And that works as it should. Thank you very much. Charlie

gina

2008-01-12 08:59:00

great calculator

jim

2008-01-07 23:36:00

amorization

Zero Energy Homes

2008-01-07 15:26:00

Thanks! We use this calculator to show the savings our Zero Energy Lifestyle homes can provide for our buyers every month! Go green!

al

2007-12-24 19:22:00

Thanks

Teresa

2007-12-22 11:41:00

comparing loans Thanks for the site!

Rodney

2007-12-11 14:07:00

An amazing tool that is a must when shopping for a loan.

Matt P

2007-12-07 05:38:00

Thanks!

Matt P

2007-12-07 05:36:00

Thanks!

Gerald

2007-12-04 13:09:00

Thank you SO MUCH!!! I was getting tired of being solicited for a home loan at every FREE SITE I went to. This is exactly the information I needed.

Don in Bethesda

2007-12-04 12:14:00

Very helpful...I used it to help decide that I can, in fact, afford the second home I want to buy. - - - - EDITOR'S COMMENT: Glad to hear it!!

terry

2007-11-28 22:51:00

What I really wanted was to calculate and print out schedule but with my putting in the monthly payment amount and have the time run as it will. - - - - EDITOR'S COMMENTS: No problem! Start by using the Affordability Calculator. Play with that until you find the loan term (repayment period) that will produce in the calculator results the loan amount of the loan you are seeking. This will be the quickest way to determine the total amount of time it will take to repay a loan of your size with your pre-determined monthly payment amount. Once you've done that, simply type that data into the Amortization Calculator to produce the schedule you're looking for. I think you'll find this method of approaching your issue to be quick and efficient. Then you can use the Prequalifcation Calculator to see whether you meet the prequalification criteria for that loan amount :-)

Aubrey

2007-11-21 08:33:00

A very good tool. I use it to calculate when I will be fully paid up if I increase my payments by x amount each month.

Alan

2007-10-31 11:36:00

To be usefull you need consumer ability to calculate both momthly payment and breakdown of amounts paid each month in interest AND pricipal, along with approximate payoff amount. - - - - EDITOR'S COMMENTS: We re-engineered this calculator and it now does what you have proposed. Just click the "View Amortization" button. Thanks for the suggestion.

Bob Menth

2007-10-29 10:25:00

Thanks

mike

2007-10-22 12:23:00

can you tell me how to determine the index number that is added to the rate that generates the payment for a particular interest rate. for example: what number do I add to 6.5% to obtain the payments for a 30 year ammortized loan?

kfc

2007-10-18 07:58:00

not helpful to me

hannah

2007-10-07 18:58:00

Thank You

sammy

2007-10-07 11:15:00

you're great thanks

jack

2007-10-04 20:10:00

this is the information

mb

2007-09-24 11:30:00

thanks

mike

2007-09-15 08:35:00

where can i find the sliding scale calculator that American Morgage use to have? You simply enter loan amount, term, interest rate with a sliding scale to the left of the box. It truly is many mortgage calculators "all in one". There is no need at all to use separate fill in the box type calculators, this one tells everything you need to know.

Peggy

2007-09-10 21:25:00

Would appreciate more payment options such as 1-10 years (this is also helpful for people trying to pay off credit cards)

tom

2007-09-05 04:30:00

the 25 year option is important for commercial

suma

2007-08-21 15:38:00

thank U

bob

2007-07-30 14:25:00

great calculators, but I need a calculator that shows HOW MANY monthly payments left to payoff IF I input the current balance, amount of total P & I & extra $ monthly, and the interest rate

dre

2007-07-12 07:09:00

This is good

Fred

2007-07-10 08:03:00

Very helpful, thanks

Richard

2007-07-04 07:29:00

Would be helpful to have a bi-monthly payment option to effectively reduce the 30 year note to a 23 year note? EDITOR'S REPLY: this is a nice idea. This is now on our list of future enhancements ideas. We will consider adding a calculator, or an article, or both, to assist our visitors in understanding this principal.

Thomas K

2007-06-28 12:47:00

Making a comparison to buying a new home versus upgrading existing home

Darryl

2007-06-27 15:37:00

Excellent Calc Site!

Larry G

2007-06-27 11:56:00

I agree with the suggestion for a 10-year option. Otherwise helpful. EDITOR'S REPLY: We have now added the 10-year option. You may enter any repayment period you like. Thank you for providing your feedback.

Shane

2007-06-15 16:47:00

Great little calculator.

Page

2007-06-12 05:13:00

Need to be able to change the year, need atleast a ten year option EDITOR'S REPLY: We have now enhanced the calculator so that it allows you to specify any repayment period. You can now run the numbers on a 10 year loan.

JohnK

2007-06-08 06:51:00

Can the currency symbol be changed? Excellent utility!

Martha

2007-06-08 05:39:00

Great site and very easy to use. Thanks.

Louise

2007-06-06 14:08:00

I appreciate this calculator, thank you. We are looking for a home and with this calculator we can determine what price range homes we can look at. But when I use it as a mortgage calculator I add the property taxes and home insusrance to the amount of loan so the payment also includes escrow.

Dianne

2007-06-04 08:00:00

This is not technically an amortization calculator, since it shows only your monthly payment. A true amortization table would show which portion of your payment is principal and which is interest for each payment over the life of the loan. - - - - EDITOR'S COMMENT: You are right. This wasn't technically an amortization calculator. But it is now! We have just added an option to view the full amortization schedule. We hope you find this to be very useful. Thanks for the suggestion.

Kim

2007-05-25 10:45:00

Thanks!

rick

2007-05-24 17:20:00

I'm looking to do interest only loan...is there a calculator to figure payments for that???? - - - - EDITOR'S REPLY: Yes - there is an Interest Only Loan calculator on this site. You can navigate to it from the home page, or visit www.calculators4mortgages.com/calculators/loan/interestonly.html. It will calculate your monthly payment and then compare that with the monthly payment of a fully amortized loan.

Melissa

2007-05-19 19:32:00

It is helpful to have a 10 year option also.

wayne

2007-05-15 19:32:00

calulating mortgage to buy a home.

marills

2007-05-15 13:59:00

Thank you! Very, very helpful!

Rose Mullins

2007-05-11 17:06:00

great!

prees

2007-05-11 05:10:00

Very good calculator--have used it a lot with good results.

dean

2007-05-10 07:21:00

handy site easy to use

Howard

2007-05-05 21:24:00

just making a comparison

Jennifer Schaffer

2007-04-30 14:52:00

Is it possible to have a 25-year calculation on your calculators. EDITOR'S REPLY: Having received this request from a number of visitors, we have expanded the mortgage calculator functions. It now allows you to specify the term length of the loan to 25, or any other number of years.

Erik Jones

2007-04-29 07:47:00

It's helpful to have a 25 year option for the repayment period.

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