Mortgage Amortization Schedule
Generate a detailed month-by-month payment schedule showing principal, interest, and remaining balance for your mortgage.
Understanding Amortization
| Year | Principal % | Interest % | Remaining Balance | 125%75%98% 1045%55%82% 2070%30%48% 3098%2%0%
*Based on 30-year mortgage at 7%*
Sample Amortization
For a $300,000 mortgage at 7% for 30 years:
MonthPaymentPrincipalInterestBalance 1$1,996$246$1,750$299,754 12$1,996$264$1,732$296,989 60$1,996$339$1,657$282,556 180$1,996$598$1,398$238,574 | 360 | $1,996 | $1,984 | $12 | $0 |
Implementation
``javascript
function generateAmortization(principal, annualRate, months) {
const schedule = [];
const monthlyRate = annualRate / 100 / 12;
const payment = principal * (monthlyRate * Math.pow(1 + monthlyRate, months)) /
(Math.pow(1 + monthlyRate, months) - 1);
let balance = principal;
for (let month = 1; month <= months; month++) {
const interest = balance * monthlyRate;
const principalPaid = payment - interest;
balance -= principalPaid;
schedule.push({ month, payment, principal: principalPaid, interest, balance: Math.max(0, balance) });
}
return schedule;
}
``