Amortization Calculator

The Amortization Calculator is a valuable tool designed to provide detailed insights into loan amortization schedules. By inputting the principal loan amount, interest rate, loan term, and start date, users can easily calculate their monthly payments, distinguishing between principal and interest amounts. This calculator is particularly useful for prospective homeowners or individuals considering various loan options, as it breaks down the complex process of loan repayment into understandable terms. It illustrates how each payment contributes to reducing the loan balance over time, helping users to plan their finances more effectively. Additionally, it can aid in comparing different loan scenarios, enabling informed decision-making regarding loan agreements.

Loan Amount ($): Annual Interest Rate (%): Loan Term (years): Extra Monthly Payment ($): Optional