If you are having a tough time understanding the nitty gritty of your mortgage, like the total interest you’ll end up paying and the monthly payments you’ll need to make, then you might as well use this simple web based tool called the AmortizationLoanCalculator.
It asks you for the principal loan amount, the loan term and the annual interest rate and returns a table that’s an amortization schedule showing your periodic payments, what part of it is going towards paying the principal and the interest, and the overall interest you pay in the lifetime of the mortgage.
As you can see in the above screenshot, the table is pretty easy understand. The C Prin and C Int stand for cumulative principal and cumulative interest respectively.
- Online calculator for calculating loan payments and interest.
- Simple interface; no sign up required.
- Enter the principal amount, loan term and annual interest rate.
- Amortization schedule with cumulative rates and amounts displayed.
Check out AmortizationLoanCalculator @ amortizationloancalculator.net/index.php