This comprehensive mortgage loan amortization calculator helps you analyze different loan scenarios and payment structures. Here's how to use it:
- Enter your loan principal amount (the total amount you're borrowing)
- Input the annual interest rate as a percentage (e.g., 4.5%)
- Set your loan term in years (typical mortgage terms are 15, 20, or 30 years)
- Optionally add extra monthly payments to see how they affect your payoff timeline
- If applicable, enter a balloon payment amount due at the end of your term
- Click the Calculate button to generate your payment schedule
Alternatively, you can enter your desired monthly payment and leave the loan amount blank to calculate how much you can afford to borrow.
The calculator will generate an amortization schedule showing the breakdown of principal and interest for each payment, allowing you to see the loan payoff date and total interest paid over the life of the loan.
Use the export options to save your payment schedule for mortgage planning, refinancing analysis, or loan comparison.