Spreadsheet programs, such as Microsoft Excel and Google Sheets, include a payment function that can calculate the principal and interest on a mortgage. Let's say you buy a condo priced at $250,000.

Use our amortization schedule calculator to estimate your monthly loan repayments, interest rate, and payoff date on a mortgage or other type of loan.

What is amortization? Amortization is a technique used to lower the value of an intangible asset or a loan over a period of time. Click to learn more about amortization.

Suppose, for example, you have a 30-year fixed-rate mortgage loan for $200,000. When you took it out, you got a 6.5% fixed interest rate, and your beginning-of-the-month payment is $1,264.

Free digital spreadsheet tools can help you make this calculation yourself. However, you can also ask the financial institution providing your loan to give you an estimated amortization schedule ...

Mortgage amortization describes the way you pay more interest toward the beginning of a mortgage. From there, monthly interest charges lessen as the principal is paid down.

A traditional mortgage is where you have a 30-year amortization schedule where you make payments in the same amount for 30 years and all the interest is paid upfront.

Knowing how mortgage amortization works can help you be a prepared homebuyer. Getty Images Most people aren't able to buy a home in cash. Instead, they borrow money from a bank in the form of a ...

Amortization with adjustable-rate mortgages. On the other hand, an adjustable-rate mortgage (ARM) comes with a fixed interest rate for an initial period (usually between three and 10 years). After ...

When you take out a mortgage to buy a home, your monthly payment includes two basic components: principal and interest. Most mortgages have a fixed repayment… ...