Amortization schedules will help you stay on top of your current balances, and also enable you to look ahead to the future because you know exactly how much you will owe, and when it is due.īefore creating an amortization schedule, there are several pieces of information about your loan that you will need. mortgages) can feel overwhelming, so it can be helpful to make a plan of payment - this is called an amortization schedule. The process of paying down loans in small increments over time is called “amortization.” Large loans with long payment periods (i.e.
Loans are typically paid off over many years, and accrue interest during this time.
