Customized, Printable Mortgage Chart Maker and Mortgage Calculator

Be Smart About Your Mortgage

This is serious. If you get a bigger mortgage than you can handle, or you run into problems later on, you could get into serious financial trouble, possibly including bankruptcy and forclosure.

Be especially careful of the interest, both monthly and total. With many mortgages, the total interest is greater than the principal you borrowed.

With that in mind, here are some tips:

How to Read the Charts/Graphs

The charts are designed to emphasize the scale of what you are getting into with a mortgage. For longer terms, the charts are wider. For larger loan amounts, the charts are taller. (If the mortgage term is longer than 30 years, we have to squeeze the chart narrower to fit. If the monthly payment is very high, we squeeze it shorter.) In all cases, the interest, both monthly and total, are shown in a way that makes them easy to see.

• The horizontal blue line at the top shows your monthly payment. The monthly payment does not include taxes or insurance, just principal and interest.
• The light blue area immediately below the monthly payment line shows the monthly principal that you pay.
• The red curve separating the the light blue and light red areas is the amortization curve. The portion of your payment that is above the curve pays off the pricipal on your loan. The portion that is below is all interest. As you pay off the principal over time, the portion of your payment that goes to interest slowly drops.
• The light red area at the bottom shows the monthly interest that you pay. Example: In the sample chart on the right, at the beginning of the mortgage the interest is about $700. After 8 years it is about $300, out of the total $1366 payment.
• The scale on the left shows dollars.
• The scale at the bottom shows years.
• The title at the bottom is optional and can show anything you want. There are a few characters that can cause us problems, like '&' or '<', so we strip them out.
• The original principal (loan amount), total interest, rate, term, and monthly payment are show at the bottom.

The Printable PDF Files

• The charts in the PDF files are just the same as on the web page, although they are scaled down slightly to fit the page.
• You can print them immediately by clicking the print icon in the Acrobat Reader. Or, if you want, you can save them to your computer with the file icon. Then you can view them anytime.
• The PDF files are for your personal use and may not be republished, including putting them on the Web, without my express consent.
• Note: After you make changes, to get a new PDF chart, you need to click the 'Draw Chart' button first, then the 'Get Printable PDF File' button. Your updated PDF is not made until the 'Draw Chart' button is clicked.

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