Mortgage Amortization Calculator
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Understanding Mortgage Amortization
Key points about mortgage amortization:
- Early payments go mostly toward interest
- More principal is paid off in later years
- Extra payments can significantly reduce total interest
- The loan balance decreases more quickly over time
- Total interest paid can often exceed the original loan amount
Note: This calculator provides a basic amortization schedule. Actual loan terms may vary based on lender requirements, fees, and other factors. Consult with a mortgage professional for specific details about your loan.