LoanGrid.Net offers Loan Calculators and Amortization Tables for:
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- Be Mobile and Tablet Friendly
- Include Code for Easily Embedding our Widgets into your site
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An amortization calculator
is used to determine the periodic
payment amount due on a loan
(typically a mortgage
), based on the amortization
repayment model factors varying amounts of both interest and principal into every installment,
though the total amount of each payment is the same.
An amortization schedule calculator is often used to adjust the
loan amount until the monthly payments will fit comfortably into
budget, and can vary the interest rate to see the difference a
better rate might make in the kind of home or car one can afford.
An amortization calculator can also reveal the exact dollar amount
that goes towards interest and the exact dollar
amount that goes towards principal out of each individual payment.
schedule is a table delineating these figures across the duration
of the loan in chronological order.