Free Printable Amortization Table

If you’ve just gotten a mortgage - or are comparing several potential loans or are considering a refinance - you may benefit from a free printable amortization table. An amortization table is a schedule that shows the results of paying on your loan over time.

See how different types of home loans fit into your budget.

The amortization table lets you see what your loan payments will be each month for the life of your loan and also gives you a preview of how much equity you will have at each point.

There are dozens of sites that claim to offer amortization tables for free. Some are excellent resources and some are completely the opposite. Almost all do not provide a template table, which is what you may think of when you imagine a printable table. Instead, they save you some time and arithmetic by offering calculators to do most of the work for you. All you have to do is enter a few figures such as your anticipated interest rate, loan amount and term length. Then push calculate and your printable table will come right up.

Since you don’t want to download a virus when you’re just trying to get some financial help, never try to get an amortization table from a site that is:

• Just a list of links
• Is an obvious advertisement
• Has no credible information on it.

Unfortunately, there are dozens of websites like these. Instead, stick to the following reputable sites and others like them:

• MyAmortizationChart.com – This simple site consists only of amortization charts. You can get yours by putting your information in the calculator or just clicking on the appropriate loan length at the bottom of the page.
• RealData.com – This site is operated by a manufacturer of real estate software. It is a very simple three-column table for fixed-rate loans only.
• MortgageMavin.com – This is one of the few sites that lets you print an amortization table for adjustable rate or balloon mortgages.
• Microsoft Office Online – Stick to this site if you’re looking to download an amortization table to Excel or another spreadsheet program. This sheet has the formulas already entered, so all you have to do is plug in your numbers and print.

The great thing about a free printable amortization table is that since it’s free there is no reason not to print out more than one. That means you can plug as many different scenarios into the calculators as you like without having to worry about it costing you. Here are some things you can do to help you figure out the best mortgage option for you:

1. Try different loan rates and terms.
2. Experiment with several monthly payments.
3. Get tables for both fixed rate and adjustable rate loans.
4. Put in some lump payments to see what happens if paying off your loan early.
5. Change the down payment amounts.

Once you’ve got all of the different tables printed out, pick three to five favorites and take them to your mortgage lender. This will help you decide together which loan is best for you. Your lender will supply you with your final amortization table.

A smart way to get real numbers to use for your amortization table instead of just hypothetical ones is to get a preapproval on the mortgage you’d like to get. Many lenders will let you lock in your rate for a period of time so you can determine if the loan is right for you and have a few weeks to find a home. Don’t do this with multiple lenders, though, since in most cases you will have to pay an application fee.

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