What is an Amortization Calculator Tool?

An Amortization Calculator Tool is an easy-to-access free web program that calculates the loan's entire amortization table, monthly payments, interest paid, reduction in the principal, and balance left at any point in time. It is designed to divide your payment so that you understand exactly how your debt is paid out in the life of the mortgage.

It's perfect for homebuyers, car owners, recipients of loans, real estate investors, and planners interested in understanding how payments are actually made and how interest is accumulated.

How to Use the Amortization Calculator Tool

Computing a whole loan schedule is fast and easy:

• Enter the loan amount (for instance, $200,000
• Enter the interest rate (for instance, 6.5%
• Choose your loan term in years or in months.
• Choose the payment frequency (monthly, bi-weekly, etc.).
• Press the 'Calculate' button.
• Instantly see your:
• Monthly payment
• Total Interest Paid
• Total payment over time
• Amortization table with breakdown of each payment

Why Use This Tool

• Understand How Repayment of Loans Occurs

  Observe how the payment is divided between the interest and the principal

• Monitoring Loan Progress Over Time

  Understand how much you still owe after each payment and how fast your loan balance dwindles.

• Compare Loan Scenarios

  Try different phrases, interest rates, or payment periods to see what fits your budget.

• Excellent for Mortgages & Car Loans

  It's easier to budget your long-term spending with BudgetingSimple.

• Intuitive to Use

  You don't have to be an accountant of finance-you just enter your numbers, and the results appear almost immediately.

Try It Now!

Enter your loan data and click 'Calculate' for your complete amortization schedule. Take control of your loan and make the proper financial decisions with our quick Amortization Calculator!