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 Amortization Software > FREE > Mortgage Calculators

Mortgage Interest Proration Online Calculator
FREE Online Calculator
 

Mortgage interest proration is the daily interest multiplied by the number of days from settlement (including the date of settlement) to the first day of the following month.  The daily rate of interest to be charged by the lender is usually shown on various forms, such as Regulation Z and RESPA or you can calculate the daily tax from this site.

The online calculator below determines the monthly payment amount for a fixed-rate and interest-only loan to help you comparison the two loan amounts.

Change the loan amount to the right and then click Calculate.

 

 

 

 

 

 

Mortgage Interest
Daily Interest
Exact Time (in days)  %

Mortgage Interest Proration

Lenders collect enough money at closing to cover the interest owed from the closing date until the next payment period. This is called proration of interest. Make sure that you keep a record of this figure. At the end of the year, the lender will send you a 1099 form (for your income tax filing) which indicates the amount of interest you paid for the year.

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Amortization Software   Generate fixed, variable or interest-only amortization schedules.

Mortgage Calculators   Track loans with ease. Add, edit, or delete to manage irregular payments.

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