Mortgage Dictionary

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Amortization Schedule

A loan amortization schedule (aka, amortization table, amortization chart) shows how each loan payment is used to pay off interest and principal. It may also show the unpaid principal at any point in time.

Tip To see how an amortization schedule is used to solve a real-world mortgage problem, read the discount points sample problem.

All of the mortgage calculators on this web site generate an amortization schedule showing all the standard outputs (principal, interest, unpaid balance). In addition, however, they show a very useful "extra" output - they show how total mortgage cost changes across payment periods.

See also:   Mortgage Amortization Calculator