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## Mortgage Calculator with amortization schedule

Simple, easy to use mortgage calculator.

Calculate your monthly payments as well as generate an amortization schedule for your home mortgage. Calculator is ideal for all types of financing, including home refinancing, auto finance, personal loans, student loans, commercial debt and more.

Input in the mortgage calculator the total amount, the number oy years and the interest rate. Then click on calculate and get your results for free.

*(Note: on mobile right scroll to see complete table)*

SUMMARY AND RESULTS |
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### Mortgage Payment Calculator

Use to calculate your monthly payment, total interest and total loan payments. In addition, you can generate an amortization schedule to show the change in your loan balance over the term of the loan.

This calculator is designed to make it easier for you to understand your mortgage and help you make important decisions about your finances.

## How to calculate mortgage loan

A mortgage loan is a loan that is used to purchase a piece of real estate, such as a house. The property is used as collateral for the loan, which means that if the borrower defaults on the loan, the lender can foreclose on the property and sell it in order to recoup their losses.

To calculate a mortgage loan, you need to know the loan amount, the interest rate, and the term of the loan. You can then use the following formula to calculate the monthly mortgage payment:

Monthly payment = (Loan amount * Interest rate) / (1 – (1 + Interest rate)^-term)

Here are two examples of how to use this formula to calculate a mortgage loan:

Example 1:

Loan amount: $200,000 Interest rate: 5% Term: 30 years

Using the formula above, we can calculate the monthly payment as follows:

Monthly payment = (200000 * 0.05) / (1 – (1 + 0.05)^-360)

This works out to a monthly payment of $1,073.64.

Example 2:

Loan amount: $300,000 Interest rate: 4% Term: 20 years

Using the formula above, we can calculate the monthly payment as follows:

Monthly payment = (300000 * 0.04) / (1 – (1 + 0.04)^-240)

This works out to a monthly payment of $1,610.46.

It is important to note that this is just a basic example and there are many other factors that can affect the monthly mortgage payment, such as property taxes, insurance, and any additional fees.

## amortization schedule

A mortgage amortization schedule is a table that shows the details of a mortgage loan, including the principal amount borrowed, the interest rate, and the monthly payment.

It also shows the remaining balance of the loan at the end of each monthly payment period, which is known as the amortization.

An amortization schedule is typically presented in the form of a table, with each row representing one monthly payment period. The columns in the table will typically include the following information:

- Payment period: The number of the payment period, starting with 1 for the first month.
- Payment date: The date on which the payment is due.
- Beginning balance: The starting balance of the loan at the beginning of the payment period.
- Payment: The amount of the monthly payment, including both the principal and interest.
- Principal: The portion of the payment that is applied to the principal balance of the loan.
- Interest: The portion of the payment that is applied to the interest on the loan.
- Ending balance: The remaining balance of the loan at the end of the payment period.

An amortization calculator can be a useful tool for understanding the details of a mortgage loan and planning your finances.

It can help you see how much of your monthly payment goes towards paying off the principal balance of the loan and how much goes towards paying interest.

It can also help you see how long it will take to pay off the loan and how much you will have paid in total by the end of the loan term.

An amortization schedule can be calculated using the following steps:

- Determine the loan amount, interest rate, and term of the loan.
- Calculate the monthly payment using the following formula:

Monthly payment = (Loan amount * Interest rate) / (1 – (1 + Interest rate)^-term)

- Create a table with columns for the payment period, payment date, beginning balance, payment, principal, interest, and ending balance.
- Set the payment period to 1 and the beginning balance to the loan amount.
- Calculate the interest by multiplying the interest rate by the beginning balance.
- Calculate the principal by subtracting the interest from the monthly payment.
- Calculate the ending balance by subtracting the principal from the beginning balance.
- Set the payment date to the date on which the payment is due.
- Repeat steps 5-8 for each payment period until the ending balance is zero.

## How much mortgage can I afford

The ratio of 0.28 from income is used to calculate the home mortgage that you can afford.

You can calculate it in the how much mortgage can I afford calculator article.

### what can I afford mortgage loan calculator

A mortgage loan calculator can help you determine how much you can afford to borrow for your home loan.

To use the calculator and know how much should i spend on a mortgage, you’ll need to input information such as the loan term, interest rate, and the amount of your down payment.

The calculator will then use this information to calculate your monthly mortgage payment and help you determine how much you can afford to borrow.

### How to calculate late fees

To calculate late fees on a mortgage loan, you’ll need to know the amount of the late fee and the number of days that the payment is late.

The formula for calculating late fees on a mortgage loan is as follows:

Late Fee = Original Monthly Payment * Fee Percentage * Number of Days Late

For example, if the original monthly payment on your mortgage loan is $1,500. The late fee percentage is 2%, and the payment is 10 days late, the late fee would be calculated as follows:

Late Fee = $1,500 * 0.02 * 10 = $300

Therefore, the total amount that you would need to pay to bring your mortgage loan current would be $1,800 ($1,500 + $300).