Q: About 4 years ago I used your online mortgage calculator to calculate a land contract between my parents and me. It made a table for 22 years and broke downs interest, principal and the balance by the month and year. I've lost the chart! And I cannot find another calculator to help. Is there any way you can help me out? I have the exact figures of the initial principal, the term (22 years), the interest rate, and the starting date 5-1-09. I would greatly appreciate any help you can give me.
A: Our mortgage calculator is still there, but we did make some changes to it a couple of years ago to improve the display and such. You'll want to visit www.hsh.com/calc-amort.html and plug in your numbers. Once you click the calculate button at the bottom of the calculator, jump to the annual results at the bottom of the screen. On the left side of the display, before each year, you will see a [+] symbol. Click it to reveal a payment-by-payment breakdown for the year, including principal, interest and remaining balance.
If you like, you can print the annual summary, or expand each year that you need to see, and then print. Be sure to use your browser's "print preview" button to adjust margins and such so that all the numbers you need to see will show on the page.
A 25-year expert observer of the mortgage and consumer debt markets, Keith Gumbinger has been cited in thousands of articles covering a wide range of consumer finance and economic topics in outlets ranging from the Wall Street Journal to the Bottom Line newsletters. He has been a featured guest on national broadcasts for CNN, CNBC, ABC, CBS and NBC television networks and has been heard on NPR and other national and local radio programs. Keith is the primary researcher and writer for HSH.com's MarketTrends newsletter and has authored or co-authored a number of consumer guides on mortgages, home equity, refinancing and more.