Mortgage amount – Total amount financed by the mortgage loan.
Duration/Tenure in years – The term required to repay the complete mortgage amount. Rate of interest – Percentage rate of fixed interest on the mortgage
Monthly payment – Monthly payment of interest and principal amount.
Overall payments – Total monthly payments, without considering any prepayment.
Total interest – Total amount paid over the complete term as interest expenses.
Prepayment type – Enter here how regularly you have to make early payments.
Prepayment amount – Amount that will be paid previously than the planned repayment.
Initiate with payment – When the prepayment will initiate? For instance, if you fill zero, prepayment will start prior to your first planned payment. Similarly, if you fill one, prepayment will begin with the first planned payment. Savings – Total interest amount you can accumulate by making premature payments. Amortization loan schedule calculator – Choose here the way you desire the statements to demonstrate amortization data.
Amortization – Wikipedia – Amortisation (or amortization) is the process of decreasing or accounting for an amount; over a period. The word comes from Middle English amortisen to kill,