Basic Amortization Calculator
Amortization Calculator
Loan Amount: The total amount borrowed after deducting the down payment. It depends on the purchase price and affordability.
Down Payment: The upfront portion paid by the borrower, typically 20% or more. A higher down payment can lead to better loan terms.
Loan Term: The repayment period for the loan, usually 15, 20, or 30 years. Shorter terms often have lower interest rates.
Interest Rate: The percentage charged on the loan annually. Fixed rates remain constant, while adjustable rates change over time.
Results
Amortization Schedule
| Month | Payment | Principal | Interest | Remaining Balance |
|---|
