Amortization Chart & Printable Schedule

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Loan Carrying Cost: Interest Reduction Techniques from The Reading Room

Important Note About Dates: This calculator allows irregular length first periods. That is, the calculator calculates the exact amount of interest due even when the initial period is shorter or longer than the other scheduled periods. This will produce interest charges that do not match other calculators. If you want to match other calculators then set the "Loan Date" and "1st Payment Date" so that they equal one full period as set in "Payment Frequency". Example: If the "Loan Date" is May 15th and the "Payment Frequency" is "Monthly", then the "1st Payment Date" should be set to June 15th, that is IF you want a conventional interest calculation. See the end of the "Help" text for some more details.

Don't want to be bothered setting dates? No problem. Use this loan calculator. It also creates an amortization schedule.

Every loan has four primary attributes or variables. (1) The loan amount, (2) the number of payments, (3) the annual interest rate and (4) the payment amount.

Enter any 3 values and zero ('0') for the unknown value. Click the [Calc] button to solve for the unknown and create a schedule.

Note: you can enter a non-zero value for all 4 variables. In that case, your inputs will be used to create the amortization schedule.

The "Loan Date" is the date the monies are advanced. It is also called the "origination date".

The "First Payment Date" is the date the first payment is due. It may be the same date as the "Loan Date" but not usually. When they are the same, this is known as "Payment-in-Advance". Leases are typically paid-in advance.

"Payment Frequency" determines how often payments are due. Monthly is the most common in the USA.

"Compounding" impacts how interest is calculated. In most cases "Compounding" should equal the "Payment Frequency".

"Points" are charged on some loans by the lender. Points are expressed as a percentage of the loan amount. A 300,000.00 loan with 2 points results in an extra fee due the lender of 6,000.00. Points are common for mortgages in the US only. Normally, you will want to leave this input set to 0.0%.

The "Amortization Method" should usually be set to "Normal". If the loan originates in "Canada" then you'll want to set this to the "Canadian" method. In some special cases loans will have only the interest paid as the regular payment or no interest at all. In that case, you can set the "Amortization Method" to accommodate those types of loans. The "Rule-of-78's" is sometimes used for car loans or other consumer loans.

To print any loan schedule, click on "Print Preview" and then "Print this schedule".

When the first period, the period of time between the "loan date" and the "first payment date" is longer than one full period, there will be interest due for the "extra days". This is known as "odd day interest". The odd day interest, with this schedule, is shown as being paid on the loan date. Example: if the "loan date" is March 24 and the "first payment date" is May 1, then there are 8 odd days of interest - March 24th to April 1st.

Conversely, if the time between the "loan date" and "first payment date" is less than the payment period set, then the first period is said to be a "short initial period" and the first payment will be reduced due to less interest being owed.

What is amortization? According to vocabulary.com, "amortization means a debt is being paid off by a series of payments". When people search for an amortization calculator, they search for it using many different search phrases. If you are searching for any of these financial calculators, this calculator should meet your needs. If it doesn't, feel free to tell me what you need in the comment area below and there is a good chance I'll be able to make a recommendation.

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Ultimate Financial Calculator and see the loan payoff calculation tutorial .

Don't over pay, don't under collect. If you need to track payments on the exact date they are paid (or missed) for whatever amount, then use ourThis website has dozens of financial calculators that create various amortization schedules, payment schedules, withdrawal schedules and general cash flow schedules. This is a complete list of our free, online calculators. Feel free to surf!

Please tell me how you use this calculator. Are you using it personally or professionally? What feature is important to you? If it didn't meet your needs, why? Your feedback will help me make improvements. Complete sentences aren't necessary! :)

my payee did not make regular payments and there is no way to change the payments made column, so I can not use your schedule.

Judi, as you discovered, the amortization schedule on this page is not designed to track actual payments made. However, there is a calculator on this site that is designed to do exactly that. It will handle multiple loan amounts and multiple payments with either falling on any date and it supports interest rate changes as well.

Please try the Ultimate Financial Calculator.

On that page, if you scroll down, there is a set of 25 tutorials. Please look at #1 to get an overview of how the calculator works.

Then for your specific calculation, look at this tutorial:

Hope this helps.

Personal use. For loan to Daughter.

Good to know. Thanks. If you have to start tracking actual payments as they are made, particularly if the payment amount or dates vary, then take a look at the Ultimate Financial Calculator. Check tutorial #25.

This was very helpful and very easy to use. I am a Real Estate Agent and I have a Client

that’ is interested in selling his residential lot via “Owner Finance”.

So, this provides exactly what I need. No changes needed !!

Thank You,

Jim Martin

Red Door Realty & Associates

Humble, TX

Good and simple to use program. I am a CPA and do not necessarily use the same calculator each time I have occasion to do a new or refinanced amortization schedule. The calculated numbers on yours agreed with the prior schedule to the penny. I have others that are a bit more elaborate but consequently are a bit more involved as well. Thanks for the use.

Excellent and exceptionally useful program because given P, R, starting dates, and my choice of monthly payments, this:

a) can find the number of payments for you

b) unlike other programs, if one pays, say $ 1000 monthly, the last payment may be $763.54.

hard to find other programs that would do this. They ask for n (# payments) first and make you pick an odd monthly payment

to come out to 0 at the end.

Even going to a number of banks, they couldn’t do this kind of schedule for me!

On another schedule I had to find the time interval when payments were made sporadically. Then

I had to go to a calendar duration program and do the rest on a spreadsheet, until the payments

become regular then I could go back to this program. A time interval calculator on the side would be an added convenience.

Personal use for loans between relatives.

Thanks for the compliment. Glad you’ve found the calculator useful. I’ll add 2 things.

If you ever need to do date math again, there are a few calculators here that will do that. One of the popular ones is the Interest Calculator. User can enter number of days or set start or end dates. Calculator will calculate number of days or the date "N" days from the other date entered.

The Ultimate Financial calculator will handle any irregular series. That is user can set dates for payments or deposits and change rates. It also gives you several other final period rounding options which you might appreciate.

This is a great calulator!! I do have one question, we would like to use this calculator to give an estimate for escrow clients. . . Is there a calculator that can calculate due dates that account for weekends/weekdays? As in, the payment is due on the 1st but the 1st falls on a Saturday so the payment will not be processed until the next business day? If not, no worries at all.

There is nothing on the site that does it automatically. The best I can suggest is to use the Ultimate Financial calculator. This calculator will lot the user set any day. What you can do is create the schedule and then "expand" the payments and change the dates for the ones that fall on a weekend.

Borrowing from my own 401K and needed to attach AM schedule to note for records. Thanks, very straightforward and prints well as an attachment.