Easy Financial Calculators » Mortgage Terms » Amortization schedule
An amortization schedule is a monthly breakdown of your payments, categorized into both principal and interest. At the beginning of your loan, payments are applied more towards interest, thus your loan balance does not go down very quickly.
To accelerate your payment schedule and pay less overall interest, consider changing your amortization term to a less lengthy term -- for example a 20 year loan or 15 year loan.
Learn more helpful Mortgage Terms to assist your home buying process.