# Appendix A. Amortization Tables

The following amortization schedules compare the first five years of a \$250,000 loan with interest rates of 6%, 6.5%, and 7%, for both thirty years and fifteen years. There is also a table that shows the first five years of a 7%, thirty-year loan with an additional \$100 per month prepaid. There are three aspects that you should compare.

The first is the monthly payment. The difference between the 6% loan and the 7% loan is approximately \$165 (rounded off). Over five years that equates to \$9,900. At the end of five years, in spite of the higher payment, you would owe \$2,693 more on the 7% loan than on the 6% loan. Rounding off to \$2,700, the 7% loan would cost you \$12,600 more than the 6% loan over the first five years. If you were to buy down the interest rate from 7% to 6% for the first five years of the loan, you would have \$12,600 to work with. For example, if you could buy down the loan from 7% to 6% for two points (\$5,000), you would most likely come out ahead. This is because putting the \$5,000 into another investment would probably not earn you \$7,600 in five years — the amount you would need to break even.

The second comparison is the possibility of a lower interest rate by reducing the term. If the best you can get on a thirty-year loan is 7%, you can probably get 6.5% on a fifteen-year loan. The drawback is that your payment will be approximately \$514 more. Over a five-year period, that totals \$30,840. If you can afford it, there is an upside: After five years paying on the thirty-year, 7% loan, you will owe \$235,328. On the fifteen-year, 6.5% loan, you will owe \$191,792. The difference between the payment amount (\$30,840) and the savings on interest (\$39,843) is almost exactly \$9,000. If you invested the \$514 monthly for five years, you would have to get over a 9% return to end up with \$9,000.

The third consideration is equity building. If, after five years, you want to sell or refinance your home, you are certainly in a better position if you owe \$191,792 than if you owe \$235,328. Building equity protects you against market changes and personal economic changes. You may never need to use your equity for an emergency, but it is nice to know it is there just in case. The last table shows a 7%, thirty-year loan with an additional principal payment of \$100 per month. Over sixty months (five years), \$100 per month totals \$6,000. The amount owed after five years is \$228,169 — \$7,159 less than the same loan without the additional payments. You saved \$1,159 in interest. In order to get \$1,159 by investing the \$6,000 elsewhere, you would need a return of over 19%. Any additional principal payments during the first few years of a mortgage loan are almost always a good investment.

If you look at the table from the standpoint of equity building, the result is also impressive. Your balance on the 7% loan with the \$100 per month additional principal payment is \$4,466 less than the thirty-year, 6% loan with no additional payments.

To follow through for the full thirty years, the following is the breakdown.

• Total interest paid over the life of the loan (no prepayment) — \$348,773

• Total interest paid over the life of the loan (with prepayment) — \$281,993

• Total interest saved — \$66,780

• Shortening of the loan term — 4 years, 10 months

Remember, you have paid an additional \$25,200 (25 years, 10 months) in payments over the life of the loan, reducing your savings to \$41,578 — still substantial.

To fully appreciate the savings, you would also have to deduct what you could have made by investing the money elsewhere and take into consideration deductions for tax purposes. In spite of this, the numbers are impressive enough that unless you have a place to put your money that most people do not have, you are better off making additional principal payments.

First Five Years of a 6%, 30-Year Loan

 Principal Payment APR Total Interest Total Loan Value \$250,000.00 \$1,498.88 6.0000% \$298,596.80 \$539,596.80
 Payment Principal Interest Balance 1 \$248.88 \$1,250.00 \$249,751.12 2 \$250.12 \$1,248.76 \$249,501.00 3 \$251.38 \$1,247.50 \$249,249.62 4 \$252.63 \$1,246.25 \$248,996.99 5 \$253.90 \$1,244.98 \$248,743.09 6 \$255.16 \$1,243.72 \$248,487.93 7 \$256.44 \$1,242.44 \$248,231.49 8 \$257.72 \$1,241.16 \$247,973.77 9 \$259.01 \$1,239.87 \$247,714.76 10 \$260.31 \$1,238.57 \$247,454.45 11 \$261.61 \$1,237.27 \$247,192.84 12 \$262.92 \$1,235.96 \$246,929.93 13 \$264.23 \$1,234.65 \$246,665.69 14 \$265.55 \$1,233.33 \$246,400.14 15 \$266.88 \$1,232.00 \$246,133.26 16 \$268.21 \$1,230.67 \$245,865.05 17 \$269.55 \$1,229.33 \$245,595.50 18 \$270.90 \$1,227.98 \$245,324.59 19 \$272.26 \$1,226.62 \$245,052.34 20 \$273.62 \$1,225.26 \$244,778.72 21 \$274.99 \$1,223.89 \$244,503.73 22 \$276.36 \$1,222.52 \$244,227.37 23 \$277.74 \$1,221.14 \$243,949.63 24 \$279.13 \$1,219.75 \$243,670.49 25 \$280.53 \$1,218.35 \$243,389.97 26 \$281.93 \$1,216.95 \$243,108.04 27 \$283.34 \$1,215.54 \$242,824.70 28 \$284.76 \$1,214.12 \$242,539.94 29 \$286.18 \$1,212.70 \$242,253.76 30 \$287.61 \$1,211.27 \$241,966.15 31 \$289.05 \$1,209.83 \$241,677.10 32 \$290.49 \$1,208.39 \$241,386.61 33 \$291.95 \$1,206.93 \$241,094.66 34 \$293.41 \$1,205.47 \$240,801.25 35 \$294.87 \$1,204.01 \$240,506.38 36 \$296.35 \$1,202.53 \$240,210.03 37 \$297.83 \$1,201.05 \$239,912.20 38 \$299.32 \$1,199.56 \$239,612.88 39 \$300.82 \$1,198.06 \$239,312.07 40 \$302.32 \$1,196.56 \$239,009.75 41 \$303.83 \$1,195.05 \$238,705.91 42 \$305.35 \$1,193.53 \$238,400.56 43 \$306.88 \$1,192.00 \$238,093.69 44 \$308.41 \$1,190.47 \$237,785.28 45 \$309.95 \$1,188.93 \$237,475.32 46 \$311.50 \$1,187.38 \$237,163.82 47 \$313.06 \$1,185.82 \$236,850.76 48 \$314.63 \$1,184.25 \$236,536.13 49 \$316.20 \$1,182.68 \$236,219.93 50 \$317.78 \$1,181.10 \$235,902.15 51 \$319.37 \$1,179.51 \$235,582.78 52 \$320.97 \$1,177.91 \$235,261.82 53 \$322.57 \$1,176.31 \$234,939.25 54 \$324.18 \$1,174.70 \$234,615.06 55 \$325.80 \$1,173.08 \$234,289.26 56 \$327.43 \$1,171.45 \$233,961.82 57 \$329.07 \$1,169.81 \$233,632.75 58 \$330.72 \$1,168.16 \$233,302.04 59 \$332.37 \$1,166.51 \$232,969.67 60 \$334.03 \$1,164.85 \$232,635.63

First Five Years of a 6.5%, 30-Year Loan

 Principal Payment APR Total Interest Total Loan Value \$250,000.00 \$1,580.17 6.5000% \$318,861.20 \$568,861.20
 Payment Principal Interest Balance 1 \$226.00 \$1,354.17 \$249,774.00 2 \$227.23 \$1,352.94 \$249,546.77 3 \$228.46 \$1,351.71 \$249,318.31 4 \$229.70 \$1,350.47 \$249,088.61 5 \$230.94 \$1,349.23 \$248,857.67 6 \$232.19 \$1,347.98 \$248,625.48 7 \$233.45 \$1,346.72 \$248,392.04 8 \$234.71 \$1,345.46 \$248,157.32 9 \$235.98 \$1,344.19 \$247,921.34 10 \$237.26 \$1,342.91 \$247,684.08 11 \$238.55 \$1,341.62 \$247,445.53 12 \$239.84 \$1,340.33 \$247,205.69 13 \$241.14 \$1,339.03 \$246,964.55 14 \$242.45 \$1,337.72 \$246,722.10 15 \$243.76 \$1,336.41 \$246,478.34 16 \$245.08 \$1,335.09 \$246,233.26 17 \$246.41 \$1,333.76 \$245,986.86 18 \$247.74 \$1,332.43 \$245,739.12 19 \$249.08 \$1,331.09 \$245,490.03 20 \$250.43 \$1,329.74 \$245,239.60 21 \$251.79 \$1,328.38 \$244,987.81 22 \$253.15 \$1,327.02 \$244,734.66 23 \$254.52 \$1,325.65 \$244,480.14 24 \$255.90 \$1,324.27 \$244,224.23 25 \$257.29 \$1,322.88 \$243,966.95 26 \$258.68 \$1,321.49 \$243,708.26 27 \$260.08 \$1,320.09 \$243,448.18 28 \$261.49 \$1,318.68 \$243,186.69 29 \$262.91 \$1,317.26 \$242,923.78 30 \$264.33 \$1,315.84 \$242,659.45 31 \$265.76 \$1,314.41 \$242,393.68 32 \$267.20 \$1,312.97 \$242,126.48 33 \$268.65 \$1,311.52 \$241,857.82 34 \$270.11 \$1,310.06 \$241,587.72 35 \$271.57 \$1,308.60 \$241,316.15 36 \$273.04 \$1,307.13 \$241,043.11 37 \$274.52 \$1,305.65 \$240,768.59 38 \$276.01 \$1,304.16 \$240,492.58 39 \$277.50 \$1,302.67 \$240,215.08 40 \$279.00 \$1,301.17 \$239,936.07 41 \$280.52 \$1,299.65 \$239,655.56 42 \$282.04 \$1,298.13 \$239,373.52 43 \$283.56 \$1,296.61 \$239,089.96 44 \$285.10 \$1,295.07 \$238,804.86 45 \$286.64 \$1,293.53 \$238,518.22 46 \$288.20 \$1,291.97 \$238,230.02 47 \$289.76 \$1,290.41 \$237,940.26 48 \$291.33 \$1,288.84 \$237,648.93 49 \$292.90 \$1,287.27 \$237,356.03 50 \$294.49 \$1,285.68 \$237,061.54 51 \$296.09 \$1,284.08 \$236,765.45 52 \$297.69 \$1,282.48 \$236,467.76 53 \$299.30 \$1,280.87 \$236,168.46 54 \$300.92 \$1,279.25 \$235,867.53 55 \$302.55 \$1,277.62 \$235,564.98 56 \$304.19 \$1,275.98 \$235,260.79 57 \$305.84 \$1,274.33 \$234,954.95 58 \$307.50 \$1,272.67 \$234,647.45 59 \$309.16 \$1,271.01 \$234,338.29 60 \$310.84 \$1,269.33 \$234,027.45

First Five Years of a 7%, 30-Year Loan

 Principal Payment APR Total Interest Total Loan Value \$250,000.00 \$1,663.26 7.0000% \$348,773.60 \$598,773.60
 Payment Principal Interest Balance 1 \$204.93 \$1,458.33 \$249,795.07 2 \$206.12 \$1,457.14 \$249,588.95 3 \$207.32 \$1,455.94 \$249,381.63 4 \$208.53 \$1,454.73 \$249,173.09 5 \$209.75 \$1,453.51 \$248,963.34 6 \$210.97 \$1,452.29 \$248,752.37 7 \$212.20 \$1,451.06 \$248,540.16 8 \$213.44 \$1,449.82 \$248,326.72 9 \$214.69 \$1,448.57 \$248,112.03 10 \$215.94 \$1,447.32 \$247,896.09 11 \$217.20 \$1,446.06 \$247,678.90 12 \$218.47 \$1,444.79 \$247,460.43 13 \$219.74 \$1,443.52 \$247,240.69 14 \$221.02 \$1,442.24 \$247,019.67 15 \$222.31 \$1,440.95 \$246,797.35 16 \$223.61 \$1,439.65 \$246,573.74 17 \$224.91 \$1,438.35 \$246,348.83 18 \$226.23 \$1,437.03 \$246,122.61 19 \$227.54 \$1,435.72 \$245,895.06 20 \$228.87 \$1,434.39 \$245,666.19 21 \$230.21 \$1,433.05 \$245,435.98 22 \$231.55 \$1,431.71 \$245,204.43 23 \$232.90 \$1,430.36 \$244,971.53 24 \$234.26 \$1,429.00 \$244,737.27 25 \$235.63 \$1,427.63 \$244,501.65 26 \$237.00 \$1,426.26 \$244,264.65 27 \$238.38 \$1,424.88 \$244,026.26 28 \$239.77 \$1,423.49 \$243,786.49 29 \$241.17 \$1,422.09 \$243,545.32 30 \$242.58 \$1,420.68 \$243,302.74 31 \$243.99 \$1,419.27 \$243,058.74 32 \$245.42 \$1,417.84 \$242,813.33 33 \$246.85 \$1,416.41 \$242,566.48 34 \$248.29 \$1,414.97 \$242,318.19 35 \$249.74 \$1,413.52 \$242,068.45 36 \$251.19 \$1,412.07 \$241,817.26 37 \$252.66 \$1,410.60 \$241,564.60 38 \$254.13 \$1,409.13 \$241,310.47 39 \$255.62 \$1,407.64 \$241,054.85 40 \$257.11 \$1,406.15 \$240,797.74 41 \$258.61 \$1,404.65 \$240,539.14 42 \$260.12 \$1,403.14 \$240,279.02 43 \$261.63 \$1,401.63 \$240,017.39 44 \$263.16 \$1,400.10 \$239,754.23 45 \$264.69 \$1,398.57 \$239,489.54 46 \$266.24 \$1,397.02 \$239,223.30 47 \$267.79 \$1,395.47 \$238,955.51 48 \$269.35 \$1,393.91 \$238,686.16 49 \$270.92 \$1,392.34 \$238,415.23 50 \$272.50 \$1,390.76 \$238,142.73 51 \$274.09 \$1,389.17 \$237,868.63 52 \$275.69 \$1,387.57 \$237,592.94 53 \$277.30 \$1,385.96 \$237,315.64 54 \$278.92 \$1,384.34 \$237,036.72 55 \$280.55 \$1,382.71 \$236,756.17 56 \$282.18 \$1,381.08 \$236,473.99 57 \$283.83 \$1,379.43 \$236,190.16 58 \$285.48 \$1,377.78 \$235,904.68 59 \$287.15 \$1,376.11 \$235,617.53 60 \$288.82 \$1,374.44 \$235,328.71

First Five Years of a 6%, 15-Year Loan

 Principal Payment APR Total Interest Total Loan Value \$250,000.00 \$2,109.64 6.0000% \$129,735.20 \$379,735.20
 Payment Principal Interest Balance 1 \$859.64 \$1,250.00 \$249,140.36 2 \$863.94 \$1,245.70 \$248,276.42 3 \$868.26 \$1,241.38 \$247,408.16 4 \$872.60 \$1,237.04 \$246,535.56 5 \$876.96 \$1,232.68 \$245,658.60 6 \$881.35 \$1,228.29 \$244,777.26 7 \$885.75 \$1,223.89 \$243,891.50 8 \$890.18 \$1,219.46 \$243,001.32 9 \$894.63 \$1,215.01 \$242,106.69 10 \$899.11 \$1,210.53 \$241,207.58 11 \$903.60 \$1,206.04 \$240,303.98 12 \$908.12 \$1,201.52 \$239,395.86 13 \$912.66 \$1,196.98 \$238,483.20 14 \$917.22 \$1,192.42 \$237,565.97 15 \$921.81 \$1,187.83 \$236,644.16 16 \$926.42 \$1,183.22 \$235,717.74 17 \$931.05 \$1,178.59 \$234,786.69 18 \$935.71 \$1,173.93 \$233,850.99 19 \$940.39 \$1,169.25 \$232,910.60 20 \$945.09 \$1,164.55 \$231,965.51 21 \$949.81 \$1,159.83 \$231,015.70 22 \$954.56 \$1,155.08 \$230,061.14 23 959.33 \$1,150.31 \$229,101.80 24 \$964.13 \$1,145.51 \$228,137.67 25 \$968.95 \$1,140.69 \$227,168.72 26 \$973.80 \$1,135.84 \$226,194.93 27 \$978.67 \$1,130.97 \$225,216.26 28 \$983.56 \$1,126.08 \$224,232.70 29 \$988.48 \$1,121.16 \$223,244.23 30 \$993.42 \$1,116.22 \$222,250.81 31 \$998.39 \$1,111.25 \$221,252.42 32 \$1,003.38 \$1,106.26 \$220,249.04 33 \$1,008.39 \$1,101.25 \$219,240.65 34 \$1,013.44 \$1,096.20 \$218,227.21 35 \$1,018.50 \$1,091.14 \$217,208.71 36 \$1,023.60 \$1,086.04 \$216,185.11 37 \$1,028.71 \$1,080.93 \$215,156.40 38 \$1,033.86 \$1,075.78 \$214,122.54 39 \$1,039.03 \$1,070.61 \$213,083.51 40 \$1,044.22 \$1,065.42 \$212,039.29 41 \$1,049.44 \$1,060.20 \$210,989.84 42 \$1,054.69 \$1,054.95 \$209,935.15 43 \$1,059.96 \$1,049.68 \$208,875.19 44 \$1,065.26 \$1,044.38 \$207,809.93 45 \$1,070.59 \$1,039.05 \$206,739.34 46 \$1,075.94 \$1,033.70 \$205,663.39 47 \$1,081.32 \$1,028.32 \$204,582.07 48 \$1,086.73 \$1,022.91 \$203,495.34 49 \$1,092.16 \$1,017.48 \$202,403.18 50 \$1,097.62 \$1,012.02 \$201,305.55 51 \$1,103.11 \$1,006.53 \$200,202.44 52 \$1,108.63 \$1,001.01 \$199,093.81 53 \$1,114.17 \$995.47 \$197,979.64 54 \$1,119.74 \$989.90 \$196,859.90 55 \$1,125.34 \$984.30 \$195,734.56 56 \$1,130.97 \$978.67 \$194,603.59 57 \$1,136.62 \$973.02 \$193,466.97 58 \$1,142.31 \$967.33 \$192,324.66 59 \$1,148.02 \$961.62 \$191,176.65 60 \$1,153.76 \$955.88 \$190,022.89

First Five Years of a 6.5%. 15-Year Loan

 Principal Payment APR Total Interest Total Loan Value \$250,000.00 \$2,177.77 6.5000% \$141,998.60 \$391,998.60
 Payment Principal Interest Balance 1 \$823.60 \$1,354.17 \$249,176.40 2 \$828.06 \$1,349.71 \$248,348.33 3 \$832.55 \$1,345.22 \$247,515.78 4 \$837.06 \$1,340.71 \$246,678.72 5 \$841.59 \$1,336.18 \$245,837.13 6 \$846.15 \$1,331.62 \$244,990.98 7 \$850.74 \$1,327.03 \$244,140.24 8 \$855.34 \$1,322.43 \$243,284.90 9 \$859.98 \$1,317.79 \$242,424.92 10 \$864.64 \$1,313.13 \$241,560.29 11 \$869.32 \$1,308.45 \$240,690.97 12 \$874.03 \$1,303.74 \$239,816.94 13 \$878.76 \$1,299.01 \$238,938.18 14 \$883.52 \$1,294.25 \$238,054.66 15 \$888.31 \$1,289.46 \$237,166.35 16 \$893.12 \$1,284.65 \$236,273.23 17 \$897.96 \$1,279.81 \$235,375.27 18 \$902.82 \$1,274.95 \$234,472.45 19 \$907.71 \$1,270.06 \$233,564.74 20 \$912.63 \$1,265.14 \$232,652.12 21 \$917.57 \$1,260.20 \$231,734.54 22 \$922.54 \$1,255.23 \$230,812.00 23 \$927.54 \$1,250.23 \$229,884.46 24 \$932.56 \$1,245.21 \$228,951.90 25 \$937.61 \$1,240.16 \$228,014.29 26 \$942.69 \$1,235.08 \$227,071.60 27 \$947.80 \$1,229.97 \$226,123.80 28 \$952.93 \$1,224.84 \$225,170.86 29 \$958.09 \$1,219.68 \$224,212.77 30 \$963.28 \$1,214.49 \$223,249.49 31 \$968.50 \$1,209.27 \$222,280.98 32 \$973.75 \$1,204.02 \$221,307.24 33 \$979.02 \$1,198.75 \$220,328.21 34 \$984.33 \$1,193.44 \$219,343.89 35 \$989.66 \$1,188.11 \$218,354.23 36 \$995.02 \$1,182.75 \$217,359.21 37 \$1,000.41 \$1,177.36 \$216,358.80 38 \$1,005.83 \$1,171.94 \$215,352.98 39 \$1,011.27 \$1,166.50 \$214,341.70 40 \$1,016.75 \$1,161.02 \$213,324.95 41 \$1,022.26 \$1,155.51 \$212,302.69 42 \$1,027.80 \$1,149.97 \$211,274.89 43 \$1,033.36 \$1,144.41 \$210,241.53 44 \$1,038.96 \$1,138.81 \$209,202.57 45 \$1,044.59 \$1,133.18 \$208,157.98 46 \$1,050.25 \$1,127.52 \$207,107.73 47 \$1,055.94 \$1,121.83 \$206,051.79 48 \$1,061.66 \$1,116.11 \$204,990.14 49 \$1,067.41 \$1,110.36 \$203,922.73 50 \$1,073.19 \$1,104.58 \$202,849.54 51 \$1,079.00 \$1,098.77 \$201,770.54 52 \$1,084.85 \$1,092.92 \$200,685.70 53 \$1,090.72 \$1,087.05 \$199,594.97 54 \$1,096.63 \$1,081.14 \$198,498.34 55 \$1,102.57 \$1,075.20 \$197,395.77 56 \$1,108.54 \$1,069.23 \$196,287.23 57 \$1,114.55 \$1,063.22 \$195,172.68 58 \$1,120.58 \$1,057.19 \$194,052.10 59 \$1,126.65 \$1,051.12 \$192,925.44 60 \$1,132.76 \$1,045.01 \$191,792.68

First Five Years on a 7%, 15-Year Loan

 Principal Payment APR Total Interest Total Loan Value \$250,000.00 \$2,247.07 7.0000% \$154,472.60 \$404,472.60
 Payment Principal Interest Balance 1 \$788.74 \$1,458.33 \$249,211.26 2 \$793.34 \$1,453.73 \$248,417.93 3 \$797.97 \$1,449.10 \$247,619.96 4 \$802.62 \$1,444.45 \$246,817.34 5 \$807.30 \$1,439.77 \$246,010.04 6 \$812.01 \$1,435.06 \$245,198.03 7 \$816.75 \$1,430.32 \$244,381.28 8 \$821.51 \$1,425.56 \$243,559.77 9 \$826.30 \$1,420.77 \$242,733.46 10 \$831.12 \$1,415.95 \$241,902.34 11 \$835.97 \$1,411.10 \$241,066.36 12 \$840.85 \$1,406.22 \$240,225.51 13 \$845.75 \$1,401.32 \$239,379.76 14 \$850.69 \$1,396.38 \$238,529.07 15 \$855.65 \$1,391.42 \$237,673.42 16 \$860.64 \$1,386.43 \$236,812.78 17 \$865.66 \$1,381.41 \$235,947.12 18 \$870.71 \$1,376.36 \$235,076.40 19 \$875.79 \$1,371.28 \$234,200.61 20 \$880.90 \$1,366.17 \$233,319.71 21 \$886.04 \$1,361.03 \$232,433.68 22 \$891.21 \$1,355.86 \$231,542.47 23 \$896.41 \$1,350.66 \$230,646.06 24 \$901.63 \$1,345.44 \$229,744.43 25 \$906.89 \$1,340.18 \$228,837.53 26 \$912.18 \$1,334.89 \$227,925.35 27 \$917.51 \$1,329.56 \$227,007.84 28 \$922.86 \$1,324.21 \$226,084.99 29 \$928.24 \$1,318.83 \$225,156.75 30 \$933.66 \$1,313.41 \$224,223.09 31 \$939.10 \$1,307.97 \$223,283.99 32 \$944.58 \$1,302.49 \$222,339.41 33 \$950.09 \$1,296.98 \$221,389.32 34 \$955.63 \$1,291.44 \$220,433.69 35 \$961.21 \$1,285.86 \$219,472.48 36 \$966.81 \$1,280.26 \$218,505.67 37 \$972.45 \$1,274.62 \$217,533.21 38 \$978.13 \$1,268.94 \$216,555.09 39 \$983.83 \$1,263.24 \$215,571.25 40 \$989.57 \$1,257.50 \$214,581.68 41 \$995.34 \$1,251.73 \$213,586.34 42 \$1,001.15 \$1,245.92 \$212,585.19 43 \$1,006.99 \$1,240.08 \$211,578.20 44 \$1,012.86 \$1,234.21 \$210,565.34 45 \$1,018.77 \$1,228.30 \$209,546.56 46 \$1,024.72 \$1,222.35 \$208,521.85 47 \$1,030.69 \$1,216.38 \$207,491.16 48 \$1,036.70 \$1,210.37 \$206,454.45 49 \$1,042.75 \$1,204.32 \$205,411.70 50 \$1,048.84 \$1,198.23 \$204,362.86 51 \$1,054.95 \$1,192.12 \$203,307.91 52 \$1,061.11 \$1,185.96 \$202,246.80 53 \$1,067.30 \$1,179.77 \$201,179.51 54 \$1,073.52 \$1,173.55 \$200,105.98 55 \$1,079.79 \$1,167.28 \$199,026.20 56 \$1,086.08 \$1,160.99 \$197,940.11 57 \$1,092.42 \$1,154.65 \$196,847.69 58 \$1,098.79 \$1,148.28 \$195,748.90 59 \$1,105.20 \$1,141.87 \$194,643.70 60 \$1,111.65 \$1,135.42 \$193,532.05

First Five Years on a 7%, 30-Year Loan with an Additional \$100/Month Payment

 Month Year Balance Payment Interest Principal 1 0.08 \$249,695.07 \$1,763.26 \$1,458.33 \$304.93 2 0.17 \$249,388.37 \$1,763.26 \$1,456.55 \$306.71 3 0.25 \$249,079.87 \$1,763.26 \$1,454.77 \$308.49 4 0.33 \$248,769.58 \$1,763.26 \$1,452.97 \$310.29 5 0.42 \$248,457.48 \$1,763.26 \$1,451.16 \$312.10 6 0.50 \$248,143.55 \$1,763.26 \$1,449.34 \$313.92 7 0.58 \$247,827.79 \$1,763.26 \$1,447.50 \$315.76 8 0.67 \$247,510.20 \$1,763.26 \$1,445.66 \$317.60 9 0.75 \$247,190.75 \$1,763.26 \$1,443.81 \$319.45 10 0.83 \$246,869.43 \$1,763.26 \$1,441.95 \$321.31 11 0.92 \$246,546.24 \$1,763.26 \$1,440.07 \$323.19 12 1.00 \$246,221.17 \$1,763.26 \$1,438.19 \$325.07 13 1.08 \$245,894.20 \$1,763.26 \$1,436.29 \$326.97 14 1.17 \$245,565.32 \$1,763.26 \$1,434.38 \$328.88 15 1.25 \$245,234.53 \$1,763.26 \$1,432.46 \$330.80 16 1.33 \$244,901.80 \$1,763.26 \$1,430.53 \$332.73 17 1.42 \$244,567.14 \$1,763.26 \$1,428.59 \$334.67 18 1.50 \$244,230.52 \$1,763.26 \$1,426.64 \$336.62 19 1.58 \$243,891.94 \$1,763.26 \$1,424.68 \$338.58 20 1.67 \$243,551.38 \$1,763.26 \$1,422.70 \$340.56 21 1.75 \$243,208.84 \$1,763.26 \$1,420.72 \$342.54 22 1.83 \$242,864.29 \$1,763.26 \$1,418.72 \$344.54 23 1.92 \$242,517.74 \$1,763.26 \$1,416.71 \$346.55 24 2.00 \$242,169.17 \$1,763.26 \$1,414.69 \$348.57 25 2.08 \$241,818.56 \$1,763.26 \$1,412.65 \$350.61 26 2.17 \$241,465.91 \$1,763.26 \$1,410.61 \$352.65 27 2.25 \$241,111.20 \$1,763.26 \$1,408.55 \$354.71 28 2.33 \$240,754.42 \$1,763.26 \$1,406.48 \$356.78 29 2.42 \$240,395.56 \$1,763.26 \$1,404.40 \$358.86 30 2.50 \$240,034.61 \$1,763.26 \$1,402.31 \$360.95 31 2.58 \$239,671.55 \$1,763.26 \$1,400.20 \$363.06 32 2.67 \$239,306.38 \$1,763.26 \$1,398.08 \$365.18 33 2.75 \$238,939.07 \$1,763.26 \$1,395.95 \$367.31 34 2.83 \$238,569.62 \$1,763.26 \$1,393.81 \$369.45 35 2.92 \$238,198.02 \$1,763.26 \$1,391.66 \$371.60 36 3.00 \$237,824.25 \$1,763.26 \$1,389.49 \$373.77 37 3.08 \$237,448.30 \$1,763.26 \$1,387.31 \$375.95 38 3.17 \$237,070.15 \$1,763.26 \$1,385.12 \$378.14 39 3.25 \$236,689.80 \$1,763.26 \$1,382.91 \$380.35 40 3.33 \$236,307.23 \$1,763.26 \$1,380.69 \$382.57 41 3.42 \$235,922.43 \$1,763.26 \$1,378.46 \$384.80 42 3.50 \$235,535.38 \$1,763.26 \$1,376.21 \$387.05 43 3.58 \$235,146.08 \$1,763.26 \$1,373.96 \$389.30 44 3.67 \$234,754.51 \$1,763.26 \$1,371.69 \$391.57 45 3.75 \$234,360.65 \$1,763.26 \$1,369.40 \$393.86 46 3.83 \$233,964.49 \$1,763.26 \$1,367.10 \$396.16 47 3.92 \$233,566.02 \$1,763.26 \$1,364.79 \$398.47 48 4.00 \$233,165.23 \$1,763.26 \$1,362.47 \$400.79 49 4.08 \$232,762.10 \$1,763.26 \$1,360.13 \$403.13 50 4.17 \$232,356.62 \$1,763.26 \$1,357.78 \$405.48 51 4.25 \$231,948.77 \$1,763.26 \$1,355.41 \$407.85 52 4.33 \$231,538.55 \$1,763.26 \$1,353.03 \$410.23 53 4.42 \$231,125.93 \$1,763.26 \$1,350.64 \$412.62 54 4.50 \$230,710.91 \$1,763.26 \$1,348.23 \$415.03 55 4.58 \$230,293.46 \$1,763.26 \$1,345.81 \$417.45 56 4.67 \$229,873.58 \$1,763.26 \$1,343.38 \$419.88 57 4.75 \$229,451.25 \$1,763.26 \$1,340.93 \$422.33 58 4.83 \$229,026.45 \$1,763.26 \$1,338.47 \$424.79 59 4.92 \$228,599.18 \$1,763.26 \$1,335.99 \$427.27 60 5.00 \$228,169.42 \$1,763.26 \$1,333.50 \$429.76