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What is a loan amortization schedule?

An amortization schedule is a table showing periodic payments on an amortizing loan, normally a mortgage, as generated by an amortization calculator. Of course, Amortization refers to the process of paying off a debt, like a loan or mortgage, over time through regular payments.

An amortization schedule calculator is often used to adjust and display the loan amount until the monthly payments will fit comfortably into your budget, and can vary the interest rate to see the difference a better rate might make in the kind of home or car you can afford.

A loan calculator can also show you the exact dollar amount that goes towards interest and the exact dollar amount that goes towards principal out of each individual payment. The amortization schedule is a table delineating these figures across the duration of the loan in chronological order.

Below is such an amortization calculator for you to use :