about the amortization formula website
What is this website for?
- As we like to share and contribute useful information for free of charge we have created the amortization formula website. The intention was to help people learn more about the amortization process in an easily understandable way. We offer a range of resources, including the amortization formula for Excel and OpenOffice, a list of available online amortization schedule calculators, a mortgage realted glossary and some useful and interesting resources for our visitors. Click on the menu to access sections that interests you.
How can I use this information?
- Belive or not, but you can earn money using this information. As the interest is paid on remaining balance and you are now familiar with the amortization process you could do some payment changes in your schedule to make your mortgage become cheaper and save some money for your family. As interest payments are based on principal it is wise to pay some extra amount each time when you can afford it. Implementing these prepayments in your amortization schedule you'll see the saving.