Moneyzine
/Mortgages/Mortgage Amortization Table

Mortgage Amortization Table

Moneyzine Editor
Author: 
Moneyzine Editor
2 mins
October 4th, 2023
Advertiser Disclosure

You can use this mortgage amortization table calculator to determine your monthly mortgage payments, and the remaining loan balance at the end of each year through the creation of an amortization table for the loan. This calculator only requires three inputs: the total home loan amount, the annual interest rate, and the length of the loan.

Calculator Definitions

The variables used in our online calculator are defined in detail below, including how to interpret the results.

Total Home Loan Amount ($)

The total amount of money borrowed for this mortgage, also referred to as the principal of the loan.

Annual Interest Rate (%)

This is the annual interest rate on the mortgage. This is not the APR, which takes into account other costs associated with the mortgage.

Term of the Loan (Years)

The term of the loan is the number of years over which the mortgage will be repaid. The most common mortgage terms are 15, 20, and 30 years.

Monthly Payment ($ / Month)

This is the monthly mortgage payment for the loan itself, not including mortgage insurance or property taxes, which are sometimes included with your mortgage payment.

Total Payments ($)

The total amount paid to the bank or lending institution over the life of the mortgage.

Total Interest Paid ($)

The total amount of interest charges over the term of the mortgage. This is the cost of borrowing money from the lending institution.

Amortization Table

The amortization this calculator computes provides the user with the remaining principal balance at the end of each year of the loan. The amortization table is sized to be able to handle loans that are up to 30 years in length.


Mortgage Amortization Table


Disclaimer: These online calculators are made available and meant to be used as a screening tool for the investor. The accuracy of these calculations is not guaranteed nor is its applicability to your individual circumstances. You should always obtain personal advice from qualified professionals.

Related Content

11 Steps to Transform Your Finances (For Good This Time!!)
The money comes in…the money goes out…and at the end of each month you have very little to show for all your efforts. Then, after buckling down for a bit and saving here and there, it feels like you’ve gained a little traction…until another unexpected bill comes along and takes your bank account down to nothing (or probably more likely, racks your credit card back up to the max instead of down to zero like you were fighting for). It’s time to change this. Now is the time to transform your finances.
March 11th, 2024
Should You Have a Mortgage in Retirement? The Unforeseen Adventure of Your Golden Years
Once upon a time, in a land not so far away, retirement was synonymous with mortgage-burning parties. Fast forward to today, and retiring with a mortgage is more like joining a club nobody really wanted to be a part of, but everyone seems to have a membership.
March 5th, 2024
5 Kiyosaki Hacks to Make You Rich: Are You Missing Out?
Have you ever considered the way you think about money could be the key to building your wealth?
February 22nd, 2024
50/30/20 Budget Spreadsheet: How To Use the 50/30/20 Rule
Do you ever run out of money before the end of the month? Or stare in disbelief at your dwindling balance and wonder where it’s all gone?
February 26th, 2024
Joe Biden’s Net Worth in 2024: President’s Path to a Millionaire
Although estimates vary, Forbes most recently put the US president’s net worth at $10 million — less than one-quarter of the $41 million some Republican supporters claimed the president was worth. Biden’s net worth had gone up since he assumed office, but rather than a pay increase, Forbes’s analysts say it had to do with his real estate portfolio growing in value in recent years.
January 31st, 2024

Contributors

Moneyzine 2024. All Rights Reserved.