Explore the Mortgage101 Library
Check Local Mortgage Rates
Calculators
FEATURED CALCULATORLoan Program Choices
Use our calculator to find out your estimated monthly payment in advance: Enter the loan amount, interest rate, and length of mortgage.
Try our Mortgage Payment Calculator
TERMINOLOGY
When you want to calculate an amortizing loan schedule, there are several inputs required in order to produce the loan repayment schedule. You can search online for one of the many financial calculators available, and you will quickly see the results.
Figures You Will Need
To calculate an amortizing loan schedule, you need some specific data in order for the calculator to compute the results. These figures are:
- Loan amount
- Interest rate
- Length of the loan
- Start date of the loan
Step 1 - Input the Data
Once you have a calculator at your disposal, plug in the above figures and press the Calculate or Enter button. An amortization schedule will appear, usually within a few seconds.
Step 2 - Viewing the Results
After the calculator has produced the schedule, you will usually see the year, interest, principal and balance figures listed in column form.
Step 3 - How to Use the Amortization Schedule
An amortization schedule is a powerful tool when you are trying to figure the amount of a loan you can afford. You can also use the results for tax planning, or future budget projections.
More Articles...
What Are Typical Mortgage Down Payments?
What To Do When Mortgages Default
- 3 Common Short Sale Mistakes
- Appraisal Basics
- Low Down Payment Loan Qualification
- Home Equity Loans for People with Bad Credit
- Should You Refinance? Make Sure the Timing is Right
- 3 Warning Signs of Loan Modification Scams
- Second Mortgages: Advantages and Disadvantages
- FHA Loans for a First-Time Home Buyer
- 3 Factors that Can Negatively Affect Your Mortgage Application