| A loan schedule is a report that gives details about | | | | conditions of the contract at a glance. Sometimes |
| loan repayment, usually in regard to a mortgage or | | | | called an amortization schedule, it details how many |
| other structured interest loan. There are several items | | | | payments are required to pay off the loan in full, the |
| listed in a loan schedule, including the principal, or the | | | | frequency of the payments, and how much principal |
| amount of money owed. This figure is the amount of | | | | and interest is paid down with each timely payment. |
| the loan after the down payment has been subtracted. | | | | Amortization is a calculation, which divides the principal |
| The loan schedule also lists the interest rate and | | | | by the number of months allowed for repayment of |
| shows how much interest in included in each payment. | | | | the loan. The interest is then calculated in accord with |
| A loan schedule is intended to give both borrower and | | | | the length of the loan and the current rate. |
| lender a good record of the particular terms and | | | | |