Search results
Use this calculator to see how your mortgage payments break down over time. Learn what amortization is, how to calculate it, and how to reduce it with extra payments or refinancing.
6 days ago · Calculate monthly payments, total interest and APR for various types of loans with fixed rates and terms. See loan amortization schedules and compare loan costs with different scenarios.
Use Bankrate's mortgage calculator to easily estimate your monthly payments, total interest and amortization schedule. You can also compare different loan terms, down payments, interest rates and extra payments.
Calculate the monthly payments, total interest and amortization schedule for a loan with a fixed interest rate and term. Enter the loan amount, interest rate and optional extra payments to see the results.
MonthInterestPrincipalEnding Balance1$1,000.00$687.71$199,312.292$996.56$691.15$198,621.133$993.11$694.61$197,926.534$989.63$698.08$197,228.45Calculate your monthly loan payments and create a detailed amortization schedule for any loan term and frequency. Learn how to use amortization to save money and pay off your loan faster with refinancing or extra payments.
- When you get a loan from a bank or a private financial institution, you have to pay interest back on the money you borrow. The amount of interest y...
- If your loan is set on a 30-year time period, as are most mortgages, one way to use amortization to your advantage is to refinance your loan. Refin...
- Another way to take advantage of amortization is to increase your payments without refinancing. The market may not be in the right place to refinan...
- Consider refinancing to get a lower rate, but not a shorter-loan term. Then, apply what you save in interest payments and any extra payments you ca...
Nov 4, 2023 · Create a payment table for a loan with equal payments for the life of the loan. See how each payment is applied to principal and interest, and how the balance changes over time.
People also ask
How do I calculate a loan amortization schedule?
How do I use the mortgage amortization calculator?
What is amortization & how is it calculated?
What is mortgage amortization?
This calculator shows you what your monthly mortgage payments will be over the life of the loan, your total payments, and how much of your payment actually goes to the interest. The results are provided in a neat, easy to read table so that you can make the best decision for you.