What is it?
The amortization schedule displays a breakdown of your payments, interest and principal over the life of your mortgage. You can quickly jump to a specific year or a payment and review the details. For instance, you can see your balance at the end of your five-year mortgage term and check how much interest you have to pay.
How it works
In the Purchase Calculator
Find the Purchase Calculator card from the home screen and tap to open it.
Tap "View Schedule"
The amortization schedule is viewable directly from any tool that allows you to enter amortization values. Tap on “View Schedule” to segue into it.
View Annual Schedule
Each row represents a year and shows how much interest and principal was paid that year. You can also see the balance remaining at the end of each year.
Tap the year row for more details
You’ll be able to see the total principal and interest paid from the beginning of the mortgage to the end of that specific year.
If there were pre-payments, you would also see the total amount of pre-payments applied in that year.
“View Payments” to drill deeper.
By tapping “View Payments” in the annual table, or using your finger to swipe to the next page, you can view the breakdown for each payment.
Similar to the annual schedule, you can see the balance remaining and the interest and principal paid in that payments.
The payment schedule supports any type of frequencies, and shows you the detail for each payment.
You’ll also noticie it’s colour codes. This handy feature will let you see quickly on which payments a pre-apyment was added and what type of pre-payment.
- One time Lumpsum
- Increased Payment
- Annual Recurring
Tap on a payment to see the breakdown,