Amortization Chart & Printable Schedule

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US National Debt Calculator handles debts to $99 trillion. Amortize entire debt or your family's share of the debt (surprise!). Also, generic use for bond coupon schedules.

Need to amortize a really big debt?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! :)

when printing off the amortization table, at the bottom right of the page, it says Calculation Method: Normal, 360 days per year.

Can you explain what this means? Why are only 360 days per year used? How is this different from the other calculation methods offered on this site?

"Normal" refers to the "Amortization Method" which the user can set on this calculator. That is, it’s not "Canadian" or "Rule-of-78s" or"Interest Only".

The 360 refers to the number of days in the year, and you can set that option by clicking on the "Settings" button. The number of days ONLY impacts interest calculations if compounding is set to "Daily", "Exact" or "Continuous" or if the initial period between the loan date and the first payment date has some odd days.

If this isn’t clear and you want more details, please ask.

I am on a board that works with banks and the USDA. When placing the figures into your amortization schedule it is different than either the bank, ie. CoBank and the USDA who says their calculations are based on daily accruing interest. I am trying to find software that I could calculate these loans accurately.

I assume when they say "daily accruing interest" it is the same thing that I call "compounding method". Did you try setting that option to "Daily". If you did, and you still get different results, then it is very important that the dates match exactly. That is, the loan date and the first payment date because "daily", "exact" and "continuous" compounding count the number of days in the period.

If you still can’t get it to match, and you can put the loan details here with some sample interest amounts for the first few payments, I’ll take a look to see why there might be a difference. Perhaps you’ll have to go back to them and them them they are calculating the interest incorrectly. 🙂

Karl,

I did try the “Daily” option and I still didn’t get it to line up with our USDA loan. I have attached our 1098 Form for 2015 to see if you can figure out how I can get it right. I am on a board and we have several loans by the USDA and I want to be able to calculate correctly interest and principle and balances.

I really appreciate your help.

Karl,

This USDA loan was for $620,000 at 5.5%. The date of the loan was 07/28/1997. The monthly payment is drafted out of our account automatically every 28th day of every month. They say the final year of our loan is 2037, since it is a 40 year loan. I am not sure if we started the payments on 07/28/1997 or on 08/28/1997.

I did try the daily setting but my number were still off.

Thanks for following up here. Now that I can see the PDF you sent (I couldn’t open it from my cell phone), I see what’s going on. The pdf report is a bit unusual in layout, but the numbers work out for 2015 (to within a penny). Here’s how I set them up:

Loan Amount: 473,793.24

Payments (#): 48 (this could be any number greater than 12)

Annual Interest Rate: 5.5%

Payment Amoumnt: 3,224.00 (I simply added an interest and principal payment)

Loan Date: 12/28/2014

1st Payment Date: 01/28/2015

Payment Frequency: Monthly

Compounding: Exact/Simple

Points: 0

Amortization Method: Normal

Click "Calc" and the schedule will use your details as entered.

Total Interest 2015: $25,734.07

NOTE: Under "Settings", the number of days per year is set to 365.I’m using $373,793.24 as the balance because that is the principal balance after the 12/28/14 payment.

Does this work for you?

I am looking for an amortization schedule for a loan that I am carrying for a family member. It has

a monthly payment that stays the same, and also an escrow amount that comes out of that payment,

and the interest needs to be totaled for each year, to do taxes for the person making the payments. The

interest is 4%.

I need the schedule to have all of these columns:

No. of payment

Due Date

Remaining principal

Monthly payment (same each month)

Interest rate

Taxes & Insurance (Escrow) (same each month)

Principal Payment

Interest Payment

At the bottom of each column listed above, I need totals for the year for monthly payment, Taxes &

insurance, principal payment and interest payment.

Thank you for your help.

I’m sorry but I don’t have anything yet that will track the escrow portion of the loan payment. Basically, that usually falls outside the realm of a calculator. I think the best thing is to look for "loan servicing software".

Are you trying to prepare a hypothetical schedule (I ask because you say "due date" and not "payment date") or track actual payments as they are made? If you find that the loan servicing software is more than you want, you can take a look at Ultimate Financial Calculator. Scroll down to tutorial #25 on that page. It will do a lot of what you want.

Karl,

Thank you so much for your reply. This loan was originally set up with a balloon payment due after

7 years. Now that I am okay with carrying it til it is paid in full, I need this amortization schedule so

I can report the interest at the end of the year, and also give to the payer for his tax purposes. The

escrow actually comes off the payment of $600.31 per month…..escrow is a set amount of $187.55.

So in order to get the correct amount of interest paid, I need that escrow column as well.

I will check out the site you suggested and see if I can make it work. Thanks again.

Carol

If you don’t find a program at a reasonable price that tracks escrow, you could use another approach. Since this is for only one loan, and since the escrow comes off the top of the payment amount, you can use the Ultimate Financial Calculator to track the payments of $412.76 (600.31 – 187.55) as they are made. The calculator will calculate the interest for you and show you year end totals.

Further, if you find that payments are not always paid when due, this calculator will handle those cases too.

If you find it tedious to enter payments every month or so to create an up to date accurate schedule, you may want to use C-Value! (button at the top of all pages). It installs on Windows computers and works like the free website calculator mentioned. The difference is, you can save your work. $49.95.

Thank you for making this available as it provides more of an accurate forecasting tool for me as I develop a spreadsheet for a land development of 25 acres in Trinidad & Tobago for plots but with slabs and stills paid for in an escrow account (genuinely paid for by us the developers to open the market up favourable for our investment risk (we are an oil nation and it is not good and I hail for the UK with a strong marketing background learned at Ford, VW, IBM and so on).

What I wanted more of was to be able to feed in my parameters for start date and see the interest spread over the remainder of say a 5-year schedule but with a first 6-months postponed payments and that based on interest only.

This is the offer I am having made to me vis a Chines Bank and their NY based US intermediary. Out of interest this is 8% where 5% is what China requires and the 3% goes to the US bank…a developers nightmare is how long is a piece of string. A realistic loan has to cover that we might have few if any sales with mud everywhere and only when the final part and roads are played do the prospects start to bite…so we are cash flow poor at the first 6-12 months and then if the economy falters further we are in a position of control. Profits can bless but achieving objectives is what delivers profits…

Andrew

Thank you for your comment.

If you want flexibility with the initial payments being interest only, then please give the Ultimate Financial Calculator a try. It will easily handle such a scenario and perhaps you won’t need to create a custom spreadsheet.

If you go to the calculator’s page, there are a number of tutorials. Everyone should read #1 to get familiar with the calculator. #14 is specifically about interest only payment series.

Using this schedule can you add random extra payments?

No, not with this calculator. But with the Ultimate Financial Calculator you can easily add as many

random extra paymentsas you like.Once on that page, scroll down and look at tutorial #9.

And everyone should read tutorial #1 just to get an overview of how that calculator works.

Feel free to ask questions on that page is something is not clear.

I am using this for work; however, I need the amortization to be daily Monday – Friday and exclude the weekends. Is this possible?

Thanks!

Meaning that if the payments are normally due on the 1st of each month, for example, and if the 1st of the month fell on a Sunday, you want the schedule to show the payment being due on Monday the 2nd. Is this correct?

This calculator won’t do that. If this is a one-off requirement, you can use the Ultimate Financial Calculator. It will let you set each payment due date. You would create a schedule and then adjust the payment due dates that fall on a weekend.

I have gotten a request for this feature about once a year for the past 30 years. In fact, I had this feature implemented 15 or so years ago in the SolveIT! program. I could look into adding it to this calculator. What I need to know is:

1. Is this a frequent requirement?

2. If I implemented it, do users expect the interest charge shown to increase slightly if the payment is changed from Sunday to Monday due to the extra day? And then change again for the next due date because it would be one day shorter?

3. If the scheduled payment falls due on a Saturday, should the calculator pick Friday or Monday?

Two items. The calculator should include interest in the first month. There should be a way to export the results into Excel format.

Exporting to Excel is a feature that I’ll eventually add. But it’s rather far down on the enhancement list. In the mean time, if you look at the schedule in print preview and select it, and then select it, it’s a simple matter to copy/paste to Excel. This works best if you are using IE. However, if you are not using IE, then, when pasting, to a “PASTE SPECIAL” from Excel’s menu and pick the unformatted option. The paste will put each value into individual cells.

Without details, I can’t comment on your statement about interest. I can assure you, the calculations are correct. But, if you want to provide details, I will look into what you are saying and explain why it is you are getting the results you are getting. By details, I need to know the loan amount, interest rate, loan date, first payment date and payment and compounding frequency. And where you think there should be interest charge and there isn’t.

Hi, I love your calculator & the flexibility it offers… however I just experienced what seems like a bug:

for a quarterly, normal amortized loan with a partial 1st quarter, it calculates a lower 1st quarter payment, ($1312.51) like usual. But when I click print-preview, the numbers change, and it instead shows a smaller payment on the last quarter – in a differing amount. I tried a new browser window, and tried multiple times & always got the same problem. My terms were: $10,000, 8 pmts, start date of 7/31/2020 and 1st pmt of 10/15/2020, quarterly, normal payments.

thoughts?

Hi Kyle, you are correct. But neither is wrong. The problem is, I haven’t documented this behavior. (I’m not sure people would read it if I did!) This is how initial short periods work.

From the calculator’s point of view, what you describe are 2 different calculations. Notice the first time you do the calculation, the calculated value in the "Payment Amount" input (that had been "0") shows the normal monthly payment amount. The calculator adjusts the first payment for the short period to be something less in the schedule.

When you click the "Print Preview" button (in fact a 2nd "Calc" button) there is no longer any unknown value. The calculator, as designed, is using the user’s inputs and creating an amortization schedule. In other words, it is using the normal payment amount for all payments and doing the rounding at the end.

Of course, to print a schedule with the smaller 1st payment, click on "Print Preview" first without clicking on the "Calc" button.

The Ultimate Financial Calculator gives the user the ability to set how long and short initial period interest gets calculated. If you want to try it, the options are under "Settings". If you scroll down the page there is a tutorial that discusses these options.

Thoughts? 🙂

I would like to be able to email the amortization schedule.

That can be done. The easiest way is, if you are using Chrome, print to a PDF file (Chrome natively supports PDF as a destination) and email it.

If you are not using Chrome, and if you are using Windows, install a PDF print driver such as PrimoPDF and print to it.

I don’t use Mac, but if you do, I assume there are PDF print drivers for Mac as well.

Hi Karl, I’m trying to set up an amortization schedule for a 15 year loan that has the first 2 years as interest only, and cannot seem to figure it out. Can you direct me to the right calculator and/or process? Thanks!

Hi Anthony, no problem. But this is not the calculator to use. Please use Ultimate Financial Calculator. Once on that web page, scroll down and there are 25 tutorials. Everyone should check out tutorial #1 for an overview. Then there’s a tutorial that steps you through exactly what you want to do. See:

Let me know if something isn’t clear.

Hi Karl,

Great tools you have here. Is the Payments? (#) field limited to less than 1,000?

Thank you!

Thanks Moe.

Yes, 999 periods is the max, and as long as the last date does not go beyond 2099.

The Ultimate Financial Calculator, on this site, does not have the 999 limit. It does have the date limit, however.

If you want to try this calculator, scroll down the page and read tutorial #1 to get started.

I used the calculator to see how much interest cost would be saved by paying off my mortgage early, and the calculator was very useful for that purpose.

What would be a useful addition to your calculator would be a tax savings feature that would include the annual interest payment amount and one’s income tax rate to calculate the net savings of paying off a mortgage early.

That is, while one would save the future interest amounts by paying off a mortgage early, there is also a tax benefit (deduction) from paying mortgage interest. Deducting the amount of future tax deductions from the total future interest payments would yield the net savings realized by paying off the mortgage early.

Actually, the net calculation you describe was once part of SolveIT!. I’ll see if I can find the code and I’ll see what would be involved to add it. The only thing is, my to-do list is pretty long right now.

I cannot see all three pages in the printer screen. It only lets me see the first 18 weeks. I want to print the entire 30 weeks of the schedule.

The print preview screen does not have pages per se. Are you saying you can’t scroll the screen to see all the payments? If that’s the case, what device are you using and what browser?

What happens if you go ahead and print from the print preview screen? Do all the payments print?

I’d love to see a setting to change the financial year dates for other countries.

I plan to add such a feature and it’s pretty high up on the priority list now.