Loan Amortization Chart
In order to keep a record of mortgage loan or financial condition, one might think of creating amortization schedule. Some may say such a schedule as a stand which refers to amortization chart as well. You might say that it is a scrap of paper consists of several points such as date, payment number, interest rates, breakdown of principal, and the remaining balance. Generally, some people use the chart to get an overview of the loan amount and interest rates when they decide to apply a loan from a bank which in turn is used for purchasing houses/cars. Based on the results of this calculation provided by the chart, one can also measure his financial condition.
Given to the characteristic of amortization chart, you may think that loan amortization is an easy-to-understand concept, but however it may not be as easy as you might think. Loan amortization is hard to understand, particularly for those who don’t understand about finance. In this sense, amortization chart is intended to help you understand how the interest and principal might work. That chart is mainly a useful tool that is able to help you calculate everything related to your loan principal.
Where to get such a tool? Well, many online sources have provided a loan amortization tool that can be downloaded for free. Most of such tools are written in excel, and they can be tailored in accordance with your personal purposes. If the chart becomes something that you need at most, probably you can download the template below.