Calculator Use

This amortization schedule calculator allows you to create a payment table for a loan with equal loan payments for the life of a loan. The amortization table shows how each payment is applied to the principal balance and the interest owed.

Payment Amount = Principal Amount + Interest Amount

NB: This loan amortization calculator should only be used to estimate your repayments since it doesn't include other charges like taxes or insurance.

To get started, you’ll need to enter the following information about your loan: Loan amount Loan term Estimated interest rate Loan amount Input the amount of money you plan to borrow, minus any down payment you plan to make. You may want to try out a few different numbers to see the size of the monthly payments for each one. Loan term Enter the length of time you want to spend paying back the loan. This choice affects the size of your payment and the total amount of interest you’ll pay over the life of your loan. It’s also likely to affect the interest rate lenders offer you. Other things being equal, lenders usually charge higher rates on loans with longer terms. Estimated interest rate