Amortization is paying off a debt over time in equal installments. Part of each payment goes toward the loan principal, and part goes towards interest. As the loan amortizes, the amount going toward principal starts out small, and gradually increases month by month. In an amortization schedule, you can see how much money you pay in principal and interest over time. Use this calculator to input the details of your loan and see how those payments break down over your loan term.
Your actual loan may vary, this is an estimate. Payment and interest only, your actual payment will be higher. 30yr product = 360 payments. The results of this calculator is for informational purposes only.
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