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I wanted to write a quick post about great new free online calculator/tool for anyone who wants to see how mortgage payments and amortizations work.
Meta-Calculator.com's free online mortgage calculator provides much more than just a simple loan amortization table. It also shows you, graphically, how much of your money goes to towards the principal and how much goes to the interest. You can see this as both a bar graph and a pie chart.
It's definitely a handy fee online tool for anyone who is either thinking of getting a mortgage or simply wants to understand how the payments look over time.
