Mortgage Calculator with Amortization Schedule Loan Amount: Interest Rate (%): Loan Length (Years): function calculate() { let loan_amount = document.getElementById('loan_amount').value; let interest_rate = document.getElementById('interest_rate').value; let loan_length = document.getElementById('loan_length').value; let monthly_rate = interest_rate / 1200; let loan_length_months = loan_length * 12; let monthly_payment = (monthly_rate + (monthly_rate / (Math.pow((1 + monthly_rate), loan_length_months) - 1))) * loan_amount; document.getElementById('results').innerHTML = ` Your monthly payment is $${monthly_payment.toFixed(2)}. <h3>Amortization Schedule</h3> <table> <thead> <tr> <th>Month</th> <th>Interest ($)</th> <th>Principal ($)</th> <th>Balance ($)</th> </tr> </thead> <tbody> ${getAmortizationTable(loan_amount, monthly_payment, monthly_rate)} </tbody> </table> `; } function getAmortizationTable(principal, daily_payment, rate) { let total_payments = 0; let interest_paid = 0; let principal_paid = 0; let balance = principal; let table = ''; for (let count = 1; count <= loan_length_months; count++) { let current_interest = balance * (rate / 12); interest_paid += current_interest; principal_paid = daily_payment - current_interest; balance -= principal_paid; total_payments += daily_payment; table += ` <tr> <td>${count}</td> <td>$${current_interest.toFixed(2)}</td> <td>$${principal_paid.toFixed(2)}</td> <td>$${balance.toFixed(2)}</td> </tr> `; if (balance < 0) { break; } } return table; } Mortgage Calculators With Amortization Schedule Purchasing a home is one of the most important decisions a person can make. Understanding the mortgage products and costs associated with owning a home is critical in the decision making process. However, with the myriad of options, it can be difficult to make a decision that is right for you and your family. Fortunately, there are mortgage calculators with amortization schedule available to provide the necessary information to make the decision a one that is informed and well-thought out. An amortization schedule is a necessary tool when applying for a mortgage because it shows how much money you are responsible for in regards to principal and interest. This helps with budgeting for your mortgage payments and allows you to make a comparison between different options in terms of interest rate, loan term, and monthly payments. Mortgage calculators with amortization schedule provide homeowners and potential buyers information that can be used for decision making. Knowing the amount of principal and interest payments every month can assist in determining if the property is affordable. An amortization schedule can also help those refinancing or considering a second mortgage determine the best option. Calculating the costs associated and understanding the amortization schedule of your loan is a key factor to successful loan management. Many online resources provide different types of mortgage calculators with amortization schedule. A wide variety of options are available for both homeowners and potential homebuyers. Whether you’re looking for a simple loan calculator or a detailed amortization schedule, there is a wide selection of tools to use to make an informed decision. When selecting a mortgage calculator with amortization schedule, it’s important to find a tool that meets your needs. Evaluate the costs associated with different mortgage products. Ensure that the calculator provides results that are based on accurate information and that there is an easy to read amortization schedule. Many calculators will provide an amortization table that you can print out; use this to review your choices. The right calculator and amortization schedule can make the entire process of financing a home much simpler and faster. Using a mortgage calculator with amortization schedule can help you narrow down the best product for you. Through accurate calculations and helpful amortization table, you can find the right loan package and take the first steps toward owning a home. Finding the right mortgage is the first step to your new home, and a calculator with amortization schedule can make that journey much easier.