# Amortization Calculator|Get Schedule, Table and Chart

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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

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Interest Rates

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Best Market
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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. jaymark gerodias 30, Sep, 2008

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

2. Shawn 30, Sep, 2008

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.

3. Phil Butler 15, Aug, 2008

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

4. Bob 13, Aug, 2008

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.

5. H.L.WANG 05, Aug, 2008

6. Marsha 25, Jul, 2008

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

7. Linda Sylvain 24, Jul, 2008

8. Neha Garg 16, Jul, 2008

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.

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Product

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Last Week

5/1 ARM

2.64 %

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15 Year Fixed

2.50 %

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30 Year Fixed

4.62 %

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