US mortgage calculator with amortization schedule - help
This JavaScript mortgage calculator is designed to calculate 2 type of requests:
1. Your periodic payment or
2.
The principal
amount you can borrow
At the same time, this calculator will show you the amortization schedule of the loan.
A- How to find your monthly payments:
- Enter the outstanding loan balance — the principal (1)
- Enter the interest rate — annual rate in percentage (2)
- Enter the amortization period in months — how long until you repay
- Enter the payment type (annual, semi-annual, monthly, bi-weekly, weekly, accelerated bi-weekly or accelerated weekly)
- Click on "Calculate Payment" to see what your periodic payments will be — answer shows in (6)
B- How to find how much you can borrow:
- Enter the interest rate — as an annual percentage (2)
- Enter the amortization period in months (how much time is the loan for (3)
- Enter the payment type (annual, semi-annual, monthly, bi-weekly, weekly, accelerated bi-weekly or accelerated weekly) (4)
- Enter the desired periodic payment (6) (how much you want your periodic payments to be)
- Click on "Calculate Principal" (7) to see how much you will be able to borrow — answer shows in (1)
Click on the image to use this amortization
calculator
C- The amortization schedule:
An amortization schedule is a timetable for payments of a mortgage loan. This calculator's amortization schedule (8) table shows:
-
the payment number,
-
the Principal Balance owed before the periodic payment,
-
the amount of the payment that is applied to repay the Principal (Capital Paid),
-
the Total Capital paid up to that periodic payment,
-
the amount of the payment that is applied to pay the interest (interest Paid),
-
the Total interest paid up to that periodic payment.
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