To hide this Help Screen click anywhere on it.

Our amortization calculator is easy to use, however here are a few pointers to help you get up and running faster. All input has to be entered in the yellow boxes. Do not enter anything anywhere else. If you do the calculator may give false information. If this happens, just reload/refresh the web page and re-enter your information.

• You do not have to enter a date. If you don't, today's date will be used in the calculations.

• Because all computers do not display dates the same, enter the date with the day first then a dash (-) or forward slash (/) then the first three letters of the month. If the loan is for this year you do not have to enter the year. If it is not for this year, then enter a - or / then the last two numbers of the year.

example   3/jun  will calculate the loan form the third of June of this year. 

25-sept-08 will calculate the loan from the 25th of September of 2008.

• Enter the loan amount.

example  300000 you do not have to enter commas or dollar signs. These will be added automatically.

• Enter the loan period in years (length of the loan). The term does not have to be in whole numbers, you can enter half years or quarter years.

example   10.5 will calculate the payments for ten years and six months

3.75 will calculate the payments for three years and nine months.

• Enter the number of payments per year. In most cases this will be 12 but can be any number

for annual payments enter 1
for semi-annual payments enter 2
for quarterly payments enter 4

• Enter the interest rate.

example   4.5 will be displayed and calculated as four and a half percent. You can also enter it as .045 and it will still be calculated as four and a half percent.

Once your information has been entered in the yellow boxes, the schedule will be displayed below the green and black heading with white text. The light green boxes show the scheduled payments, the total number of payments and total interest you will pay. The two right columns with bold text will display the total interest per calendar year and the total amount paid on the principal per calendar year.

You can also play some what if's with the calculator.

for example; enter 300000 for the loan amount
then enter 30 for the loan period
enter 12 for the number of payments per year
now enter 4.75 for the interest rate

In the light green boxes the scheduled payments are $1,564.94 and the number of payments are 360 and total interest on the loan is $263,380.13

Now in the bottom yellow box "Payment Adjustment" enter 35.06

In the light green box the Adjusted Payment is now $1,600.00 (the scheduled payment plus the adjusted payment). The number of payments has dropped from 360 to 344. The loan will be paid off a year and six months earlier and you will save $ 14,378.51 in interest. You can also decrease you payment by entering a negative number in the Payment Adjustment box.

for example enter -64.94

Now the payment is $ 1,500.00 and it will take an additional three years and two months to pay the loan off and you will pay an additional $32,219.72 in interest. When the number in the box "Interest saved from pmt adjustment" is formatted as ($32,219.72), it is a negative number. A negative number in the "Interest saved from pmt adjustment" means the payment adjustment you made will cost you that much in additional interest.