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Amortization Calculator Mortgage - Compare Annuity & Linear Payments
Here you can download free excel amortization calculator mortgage comparing annuity & linear loan repayments and estimating difference in the interest expenses for both methods. Amortization schedules are provided for both payment methods indicating regular repayment of the loan and interest payment. In this download interest is paid on a monthly basis.
Again you can use this file to estimate current and long-term portions of the loan with different repayment methods, estimate interest expenses and even judge which method is better and more suitable.
Of course you can use this calculator for personal purposes.
How to use amortization calculator mortgage?
First of all you will need to enter the initial data:
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loan duration term in years
The you will see two amortization schedules:
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one for annuity payments - this method requires that equal amounts are paid each period. Each amount contains both interest and loan repayment. The essence of this method is that repayment of the loan principal gradually increases over time and interest payment decreases.
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another for linear payments - this method requires equal amount of the loan principal are repaid each period. In addition interest is paid on the outstanding loan amount. Each period same amount of the loan is repaid and interest decreases gradually over the period of time. Comparing to the annuity method, monthly payments under linear method are higher in the beginning, however they decrease later. This method allows to pay less interest on the loan. The download provides saving calculation.
Download amortization calculator mortgage here
Other Resources
Below you can also find a list of all calculators you can download for free on our site:
Free Excel Calculator 1 - simple fixed rate mortgage
Free Excel Calculator 2 - fixed rate mortgage with extra payment
Free Excel Calculator 3 - comparing the options & amortization for quarterly and semiannual interest payments
Free Excel Calculator 4 - compare annuity & linear payments
Free Excel Calculator 5 - determining loan duration
Free Excel Calculator 6 - exploring refinancing options
Free Excel Calculator 7 - do it yourself in Excel
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