What is a Loan Amortization Schedule Infographic

When you buy a home for the first time and take out a home loan, you will need to pay back the amount borrowed plus interest over a set period of time. The total amount of the loan, including the principal plus interest, is split into equal monthly payments. Every payment will go towards both the principal and interest. A loan amortization schedule shows you what percentage of your monthly payment goes toward the principal vs. interest. These percentages will change over time as you get closer to paying off the loan. Use a loan amortization schedule to determine how much you are paying in interest over the life of the loan. https://www.ent.com/