About a Mortgage Table and How it Works!

 
A Mortgage Table will show you what your Interest Payment will be. It's the simplest way of seeing your total payment, which is both principle and interest.

The input for most mortgage payment table calculators is really simple and little information is required. You will be asked to put in a:

• Loan amount
• Term (how many years to pay your mortgage off)
• Interest rate.

There is two separate types of mortgage amortization table calculators and each can tell you something different, such as: 

1. Some mortgage rate table calculators will allow you to put in a minimum and maximum principle value and interest rate. This type of mortgage table calculator will give you an example of your monthly payment for each principle amount in increments of $10,000 in between your minimum and maximum settings. As an example, if you input $300,000 as a minimum and $350,000 as a maximum, I will get results for $300,000; $310,000; $320,000; $330,000; $340,000; and $350,000. 
2. The same mortgage calculation table calculator will also give you an example of your payment with each principle amount and each interest amount in increments of 0.125% in between your minimum and maximum. If I put in the $300,000 and $350,000 mentioned above plus 7% for my interest minimum and 8% for my interest maximum, I would get a table with 54 monthly payment examples.

Each would let me know what my monthly payment would look like with each principle and interest amount.

The second type of table calculator is a little more simple.

This one is ideal for those who know what interest rate and mortgage amount they would like but would like to see their monthly payment amounts over a certain number of years.

This type of table calculator has you input the amount you would like to borrow, what interest rate you expect to have, and how many years you would like to have to pay off your mortgage.

The Results
This mortgage table calculator will then produce an amortization table for each year with how much interest and principle you will pay that month along with your remaining balance. At the end it will also give you a grand total of the interest amount you will pay.