Palestini Home Loans


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Amortization Calculator

What is Mortgage Amortization?

Taking out a mortgage to buy a home is a great way to become a homeowner and also a huge responsibility. The most important part about choosing a mortgage plan is to choose one that matches your financial situation and one that serves your financial goals in the long run. There are many mortgage programs available in the market and they all have their own benefits and requirements. But they all have some things in common, all mortgage plans consist of the following:

– Mortgage term period (the number of years the mortgage plan remains active)
– Interest rates (the annual services fees of the mortgage)
– The Principal amount (the total financed amount of the loan)
– The Total amount (the amount totaled after including all the fees and service charges)
– The monthly payment amount (the amounts paid on a monthly basis for repayment)

Mortgage Amortization is the process during which your mortgage is repaid. During the course of mortgage amortization, in the beginning majority of your monthly repayment will go on to cover the interest payments and as the interest payments near completion, the majority of the payments will move on to cover the principal amount.


What is an Amortization Calculator?

As mentioned, there are multiple types of mortgage options available in the market. Choosing one that fits you would require constantly checking the breakdown of every plan, one by one. This would be a huge hassle to deal with which is why Amortization Calculators are available on the websites of most lenders. Using these free tools, you can enter the required information and see the breakdown of a loan type to see how it impacts you in the long term and choose a plan that fits your preference.

How does an Amortization Calculator work?

To use an Amortization Calculator you need to enter the following information:

– The total amount of the mortgage
– Interest rate
– Number of years in the mortgage

Palestini Home Loans

Dawn Palestini
Loan Consultant
NMLS ID #361616
CA Lic. #CA-DBO361616
490 Chadbourne Rd #A172
Fairfield, CA 94534


We've been helping customers afford the home of their dreams for many years and we love what we do.

Xpert Home Lending, Inc.  is a Real Estate Broker Licensed by the California Department of Real Estate DRE #02166758  NMLS: 2179191

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