Mortgage Calculator and Amortization Table Generator

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Conventional loans and/or Mortgages typically have a set or fixed interest rate on the outstanding balance that remains constant for the term of the mortgage. Initially the borrower is paying mainly interest and little is applied to the amount owed.  Each month the amount of interest paid decreases and the amount applied to the principal increases.  This is the most common type of loan issued by mortgage companies and banks.   Another popular type of loan used by sellers is the scaling interest Loan.  It is commonly used in land contract and lease option deals.

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