The calculator allows you to enter a monthly, annual, bi-weekly or one-time amount for additional principal prepayment.To do so, click "+ Prepayment options." Now use the mortgage payment calculator to see how prepaying some of the principal saves money over time. Clicking the "+" sign next to a year reveals a month-by-month breakdown of your costs.Ĭlick "calculate" to get your monthly payment amount and an amortization schedule. To see this, click on "Payment chart" and mouse over any year.Ĭlicking on "Amortization schedule" reveals a display table of the total principal and interest paid in each year of the mortgage and your remaining principal balance at the end of each calendar year. For instance, in the first year of a 30-year, $250,000 mortgage with a fixed 5% interest rate, $12,416.24 of your payments goes toward interest, and only $3,688.41 goes towards your principal. Most of your mortgage loan payment will go toward interest in the early years of the loan, with a growing amount going toward the loan principal as the years go by - until finally almost all of your payment goes toward principal at the end. Your initial display will show you the monthly mortgage payment, total interest paid, breakout of principal and interest, and your mortgage payoff date. With HSH.com's mortgage payment calculator, you enter the features of your mortgage: amount of the principal loan balance, the interest rate, the home loan term, and the month and year the loan begins.
#Loan calc adfition principal how to
How to use the loan amortization calculator The loan calculator also lets you see how much you can save by prepaying some of the principal. A mortgage amortization calculator shows how much of your monthly mortgage payment will go toward principal and interest over the life of your loan.
0 kommentar(er)
