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Review the Amortization Table for example loan amounts and payments.

Amortization Table

Monthly Payment Table – Per $1,000 of Loan

30 Year Amortization

 
Rate % 6.0% 6.5% 7.0% 7.5% 8.0% 8.5% 9.0% 9.5% 10.0% 10.5% 11.0%
Payment $6.00 $6.32 $6.65 $6.99 $7.34 $7.69 $8.05 $8.41 $8.78 $9.15 $9.52
 
15 Year Amortization

 
Rate % 6.0% 6.5% 7.0% 7.5% 8.0% 8.5% 9.0% 9.5% 10.0% 10.5% 11.0%
Payment $8.44 $8.71 $8.99 $9.27 $9.56 $9.85 $10.14 $10.44 $10.75 $11.05 $11.37

Example: $120,000 loan amount @ 7.5% for 30 years
$120,000 / 1000= 120 x $6.99= $838.80 per month, principal and interest