Using our loan payments calculator is a simple way to help you plan your budget and avoid unnecessary troubles. All that is required of you to receive your loan payments schedule is the following information: the loan amount, the rate, and the number of payments. Our online loan calculator will then automatically update the "Maturity" field and calculate all monthly payments.
The advantage of a self-amortizing loan is that its periodic payments consist of both principal and interest. Therefore, at the end of a scheduled term, the loan will be fully repaid. Let’s take a look at an example of a self-amortizing loan calculation to gain a better understanding.
On July 3rd, 2015, Anthony received a home loan of $200,000 with a fixed yearly interest rate of 15% for 10 years. His loan payments are to be made on a monthly basis. Now, Anthony finds himself having to make 120 payments which can be confusing and difficult to keep track of.
To make the process simpler, Anthony opens the self-amortizing loan payments calculator (link below) and enters the necessary information into the appropriate fields. He can also apply the variable rate, daily compounding, and fees and taxes if required. Additionally, he can modify payments (PMT) dates.
Next, he presses the «Calculate» button and looks at the home loan amortization schedule. It shows that each monthly payment will be $3,226.70. Anthony is also able to see the specific details of each of the 120 payments. By the end of the 10-year term, he will pay $387,939.24 ($187,939.24 for interest and $200,000.00 for principal).
Fortunately for Anthony, our self-amortized loan payments calculator was able to provide some relief! This tool also offers the opportunity to print both the coupons and the schedule. Lastly, Anthony can also fill out the “Lender Info” and the “Borrower Info” fields or just press the “Print Schedule” button to save his PDF loan amortization schedule to his desktop.
We hope that you enjoy this free tool and find it to be straightforward and easy to use! Your feedback is highly appreciated and will help us improve our ability to serve you and other users of our web site. Thank you for your time and attention!
Also you can check out our free interest-only loan calculator.