##### Mortgage loan calculator with PMI, tax, insurance, extra payments, simple and a compound method, EIR, HOA-Fee, Bi-Weekly payments.

### Printable amortization schedule

#### Why do you need a printable amortization schedule?

Before you arrange the best loan scheme for you, it is good to calculate all expenses, fees, interest rates and everything else about it. It is crucial to have as many information as possible before you sign the contract with the bank or some other financial institution. Without this information, it is almost impossible to**compare different loan schemes**, so it is very important that you make a printable amortization schedule that will help you and give you a

**full picture of your yearly and monthly payments and costs**.

It is not enough only to create an amortization schedule online, but it is really smart that you print it and take it with you to the bank because it will certainly help you in the loan negotiation process. It is also good to have that kind of schedule for your own evidence, in case that you would like to look, when your payoff date is or when you would become a 20 % owner of your real estate – after that, you do not need to pay private mortgage insurance (PMI) anymore. Using printable amortization schedule

**you will always know the amount of principal and interest**that are included in your payments, which is also definitely essential information for every person that poses the loan.

#### What a good printable amortization schedule shows you?

Every amortization schedule should include all information about your loan and**give you a complete and detailing view of periodic loan payments**. Even that all payments are the same, the percentage of interest early in the schedule is bigger than later on, when you basically pay only for the principal. That means that in the

**beginning you will pay the majority of each periodic payment only for interest**, so it is crucial that you know that and that the interest is as low as possible.

Printable amortization scheme do not show you only the amount of principal and interest for each monthly payment, but also costs of taxes, insurance (PMI) and dues for homeowners’ association (HOA-Fee) that are an important part of expenses that you pay for your debt. You can see the amount of money you would have to pay for principal, interest and loan costs yearly or monthly for each payment. One-time or on-time yearly

**extra payments can be also included in printable amortization scheme**.

#### Property Taxes

With this mortgage tax calculator you can find out your obligations which will also include tax.The printable amortization schedule can also include property taxes. The tax depends on the value of the property. Annual tax amount is calculated and then divided by the number of payments per year. If you are paying monthly, the amount is divided by twelve. Be cautious, because the tax rate may change.

#### Insurance

The majority of lenders demand that the property is insured. Insurance usually covers fire, lightning strikes, burglary, storms, explosions etc. You can also include this insurance to printable amortization schedule and take it into account of every payment.List of United States insurance companies

#### Mortgage insurance (PMI)

Mortgage insurance is usually required until 20% of property value is paid. PMI can be avoided if 20% deposit is paid.Lenders mortgage insurance

#### Extra payments

Amortization schedule can include special payments, depending on your requirements.

If you expect higher inflow of money in the coming years and you want to use it to pay off the mortgage, or if you want to repay the loan quicker, enter that amount in “One-time” row and specify the month and year in which you would like to include it in the printable amortization schedule.

If you have the regular annual inflow of money and you want to include it in repayment, enter the value in “One-time yearly” row. Specify the month in which the amount should be taken into account.

If you would like to add some extra money in every installment, enter the amount in “For each payment” row.

All these additional payments will shorten the age of paying off the mortgage and reduce the interest.

#### Simple and a compound method of interest calculation

The Simple method is the one that is usually used. The Compound is added only for specific needs.#### Calculation of the effective interest rate

Here you have a mortgage loan calculator, which can calculate the effective interest rate. The effective interest rate tells how expensive the loan is. It helps to find the most suitable option for the loan. In the situation when one lender offers a loan with lower interest rate and requires PMI payment and the other one with higher interest rate but without PMI, the effective interest rate tells which loan is better.#### Homeowners Association Fee – HOA Fee

HOA contribution pay by property owners. The money is usually used for maintenance of common areas, tennis courts, swimming pools and the like this. You can also charge an additional contribution, if carried out major maintenance, such as replacing the roof or building elevators.Before buying a property, we must inquire how much is HOA contribution, as it can have an effect on whether we can afford this purchase.

#### The Importance of Amortization

There are multiple types of mortgage amortization calculators available, however, not all of them offer the same things. We can choose between mortgage amortization calculator, mortgage amortization calculator with taxes, mortgage amortization calculator with insurance, mortgage amortization calculator with HOA, mortgage amortization calculator with the downpayment, or any other feature that you can think of, it is, however, hard to include them all in one. It is often difficult to select the one to use. Mortgage Amortization calculator may be the one to pick when trying to design a scheme for your mortgage payments. In order to do the necessary calculations, you will need to set up your amortization schedule or the so-called amortization schedule. An amortization schedule is a plan of paying off the mortgage loan. After the down-payment is complete, the monthly payments that are organized according to the amortization schedule are next in line.#### So how do amortization schedules work?

When paying off the debt, a certain amount of money goes towards the interest and a certain amount of money goes towards the principal. The two amounts do not stay the same the whole time as in the beginning the larger portion of the money is directed towards the interest and later towards the principal. An amortization schedule would denote the numbers and their changes in the process of repaying the debt. Its primary role is to design and arrange the process of paying off a loan. Another thing that should definitely be taken into consideration, when dealing with amortization schedules, is the method of payment. We have a lot of options: Monthly, accelerated monthly, weekly, bi-weekly, accelerated weekly, accelerated bi-weekly. By choosing the right one, a fairly big percentage of the interest money can be saved. Usually, monthly payments have a higher EIR or Effective Interest Rate than weekly or even accelerated weekly ones and can thus help the money-saving process. The exact calculations can be obtained from Mortgage Calculator Bi-Weekly.#### Insurance is a significant cost. It must be included in the mortgage amortization calculator with PMI.

Although the interest and the principal are responsible for the majority of monthly mortgage expenses, there is another big part that needs to be included in the mortgage payment calculator with PMI. This is the famous insurance. There has been a lot of talk about PMI (private mortgage insurance) before, but the buyer should also invest in the homeowner’s insurance. This might seem like unnecessary expense as the mortgage bill with numerous extra payments and HOA fees might be high already, but this can protect the buyer from unexpected circumstances, which could destroy the possibility of keeping the newly-bought facility. If the object is located in the area that is prone to natural disasters (earthquakes, floods, volcano eruptions, etc.) it would be wise to invest a little extra each month to avoid occurrences that would enable more debt. It is better to be safe than sorry!