You can see an amortization schedule by using a mortgage calculator. It will give you the monthly payment based on the current interest rates. Then it will give you all of the mortgage payment details you need such as, how much principal and interest you’re paying. It will show you how much you have paid off month by month throughout the 30 years of the loan.

The breakdown of you mortgage payment is very important because you can see how much interest you pay each month. Sometimes people get discouraged because they see a very high amount of interest for the first year and simply try to forget about the mortgage completely. You should pay very close attention to it and constantly look at a mortgage calculator to see how much you’re paying down each month.

Try adding a small amount of money each month to the mortgage calculator and see what happens. The amount of money you will save is incredible over the 30 year mortgage. Even a small amount like $50 per month will save you thousands of dollars on a loan like this. The best way to keep up with it is to use the amortization schedule.

Once you look at it a few times you’ll start to understand it much better. Then try to change the years from 30 years to 15 or 20 year on the mortgage calculator and see how much money you’ll save. Not only that, but you’ll be paying it off 10-15 years sooner as well.

Some people will call it an amortization schedule calculator which is also correct. Any type of interest calculator does the same thing. It simply calculates the amount of interest you owe for that month based on how much you owe. So if you add an extra principal payment one month, you owe less the next month, and so on. So each time you’ll owe less interest, which means you’re paying more principal each time. After one year it really starts to snowball.

So if you’re buying a home then I highly suggest using a mortgage calculator and an amortization schedule to help you with the process. You probably try to find many other ways to save $50-$100 on smaller purchases. Well this is a way to save thousands and it’s completely free to use on my website. So I suggest you get started now!