An amortization schedule tells you how much of your monthly payment is going to pay down your principal and how much is going to pay the interest.

This can be very eye opening. In the beginning of your mortgage, your payment is almost all interest with very little going toward paying down the balance.

Towards the end of the amortization schedule, you see it go the other direction. Now, most of the payment is going toward paying down the principal and very little going toward interest.

Mortgage Amortization Spreadsheet

A mortgage amortization schedule is a breakdown of all the mortgage payments needed until the mortgage is paid in full. Your mortgage payment includes 2 parts, the principal and the interest.

An amortization schedule is different than a mortgage calculator. A calculator only produces a monthly payment but an amortization schedule shows you how much is going toward the principal and how much is going toward the interest for each monthly payment.

There are ways to get a mortgage amortization spreadsheet using Excel.

Also, an interest only mortgage amortization schedule can’t be calculated because if you are paying interest only, none of your payment is going toward paying down your balance. So after, 5 years or whatever it may be, your balance remains the same as the day you got the mortgage and your payment each month only went to paying the interest.

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