Mortgage Calculator Amortization

Mortgage Calculator - Amortization - Help/Information

The mortgage amortization calculator allows you to see an estimate of the payments required to maintain a mortgage as well as an amortization schedule of these payments. To use the calculator, you should input some basic details such as the mortgage loan amount the annual interest rate (APR) and the mortgage loan term in years. You can also input additional details such as the annual amount you will need to pay in real estate taxes, your annual homeowners insurance and any monthly private mortgage insurance payment that may be required.

The calculator will return an estimate of the monthly payment required for your principal and interest payments. The total monthly payment of the taxes, insurance and private mortgage insurance and will sum these to a total monthly mortgage payment that includes all of these expenses.

You can then see an amortization of your principal and interest payments by clicking the "Create P&I Amortization Schedule" button. This amortization schedule will break down your payments by month, showing the total payment for each month, how much of this payment is interest payment or payment off the principal and your remaining balance each month. This will be computed for each month of the term of the mortgage. The amortization schedule will also total each column of the table. You can use these totals to see how much interest has been paid over the course of the loan, or the total of all monthly payments over the loan term.

You should note that real estate taxes, the annual homeowners insurance and private mortgage payments can be based on value of the property, but can vary depending on your locality, the insurance company and other factors. If you simply want to use the calculator to see the payments from the principal and interest, you can simply put in zeros for the real estate taxes, annual homeowners insurance and monthly PMI. This will then put a zero in the output field relating to these expenses but will calculate the payments and amortization of your principal and interest payments.

It is important to understand that this is a general mortgage calculator only. Specific mortgage, tax and insurance situations may have varying factors that are not accounted for by this calculator. The calculator can be useful to gain an initial estimate of the payments and amortization that may be involved in a given mortgage situation, however you should always have a professional calculate the exact costs associated with any specific mortgage, tax and insurance options you may consider.

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Disclaimer/Terms of Use: This calculator is provided for use free of charge. The provider of this calculator does not guarantee the accuracy of the calculator give any express or implied warranty as to its accuracy and we do not accept any liability for errors or omissions. The provider of the calculator is not liable for any damages (including, without limitation, damages for loss of business or loss of profits) arising in contract, tort or otherwise from the use of or inability to use the above calculator, or from any action or decision taken as a result of using this website or any such material. Reading, understanding and agreeing to this disclaimer is a condition of use of the calculator. Always seek professional advice before making any financial decisions.