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| Use this calculator to generate an
amortization schedule for your current mortgage. Quickly see
how much interest you will pay, and your principal balances.
You can even determine the impact of any principal prepayments!
Press the "View Report" button for a full yearly or monthly
amortization schedule. |
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| Definitions |
- Mortgage amount
- Original or expected balance for your mortgage.
- Interest rate
- Annual interest rate for this
mortgage.
- Term
in years
- The
number of years over which
you will repay this loan.
The most common mortgage
terms are 15 years and 30
years.
- Monthly
payment
- Monthly
principal
and
interest
payment
(PI).
- Total
payments
- Total
of
all
monthly
payments
over
the
full
term
of
the
mortgage.
This
total
payment
amount
assumes
that
there
are
no
prepayments
of
principal.
- Total
interest
- Total
of
all
interest
paid
over
the
full
term
of
the
mortgage.
This
total
interest
amount
assumes
that
there
are
no
prepayments
of
principal.
- Prepayment
type
- The
frequency
of
prepayment.
The
options
are:
none,
monthly,
yearly,
and
one-time
payment.
- Prepayment
amount
- Amount
that
will
be
prepaid
on
your
mortgage.
This
amount
will
be
applied
to
the
mortgage
principal
balance,
based
on
the
prepayment
type.
- Start
with
payment
- This
is
the
payment
number
that
your
prepayments
will
begin
with.
For
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