# Amortization Calculator|Get Schedule, Table and Chart

User Rating : (10 votes, average: 3.8 out of 5)

Our Amortization Schedule Calculator gives you a full amortization schedule & chart. Calculate your payment rate on interest and principal, and determine what your payments will be over time.

Using an amortization calculator is helpful when you are shopping for a new mortgage or if you want to refinance. This mortgage calculator makes it simple and easy to get a full amortization schedule in a chart or table format.

Here's how our amortization calculator can help you find the right mortgage.

Amortization Calculator

Result

Interest Rates

@

Best Market
APR @

Monthly Payment

Total Interest Payable

Total Payment

## How to use the Amortization calculator

Monthly principal and interest (P&I) payment: Enter the amount you want to borrow, the interest rate, and the repayment period. The amortization calculator displays how much your P&I installment will be based on the information provided. This assists in determining how much you can afford to borrow at prevailing interest rates. As a reminder, payment amounts shown by the calculator do not include amounts needed for payment of property taxes, hazard insurance and mortgage insurance.

Affordable payments: You can determine payment amounts using various loan amounts and interest rates. By comparing loan amounts, terms, and interest rates, you can determine how much you can afford to borrow.

Learn how much you'll pay during the life of your mortgage loan: The amortization calculator provides the dollar total amount of P&I payments made during the full term of the loan. If you want to pay off your mortgage sooner, you can adjust the term accordingly to see how much you would need to pay each month.

Benefits of a shorter repayment term: If paying off your mortgage is a priority, refinancing from a 30-year mortgage to a 15-year mortgage can help you save a lot of money. Use the calculator to see how much you can save by selecting a shorter repayment period.

• As an example, if you borrow \$200,000 at 5.25% for 30 years, you'll repay approximately \$397,586.67. This includes interest of \$197,586.67, which almost amounts to repaying your mortgage twice!
• If you refinance for 15 years for the same loan amount and interest rate, your P&I payment would be \$1607.76, and you would repay about \$289,395.98 over 15 years. You could potentially save \$108,190.69 in interest payments compared to a 30-year mortgage. And savings on a 15-year loan will probably be more, as interest rates are typically .25% to .50% lower.

Using an amortization calculator can help you identify mortgage terms that best meet your needs and ability to pay. Once these have been identified, be sure and compare lenders to ensure that you are doing your homework and researching to get the best loan rates available to you.

103 Responses to "Amortization Calculator|Get Schedule, Table and Chart"
1. dre 12, Jul, 2007

This is good

2. Fred 10, Jul, 2007

3. Richard 04, Jul, 2007

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.

4. Thomas K 28, Jun, 2007

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

5. Darryl 27, Jun, 2007

Excellent Calc Site!

6. Larry G 27, Jun, 2007

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.

7. Shane 15, Jun, 2007

Great little calculator.

8. Page 12, Jun, 2007

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.

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## Today's Best Mortgage Rates

Product

Today

+/-

Last Week

5/1 ARM

2.64 %

%

15 Year Fixed

2.50 %

%

30 Year Fixed

4.62 %

%

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