20 Year Amortization Schedule. $493,000 Loan at 5.50%

Free printable payment plans for a 20 Year, $493,000 mortgage at 5.50% APR

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20 Year Amortization Schedule for a 493,000 Mortgage at 5.50% Interest. What is the monthly payment for a $493,000 Loan at 5.50%?
Create an amortization chart for a 493,000 fixed rate mortgage at 5.50 APR for 20 Years. What is the monthly payment for a $493,000 Loan at 5.50% APR? Enter your details above to create an amortization chart showing the details by month or year. A downloadable printable PDF is available after you create the amortization table.

To find the best mortgage rates get several quotes, both online and at a local bank or credit union. Browse by rates below to see how a small change in APR can affect the monthly mortgage payment. Pay close attention to the different fees. Some banks charge higher closing costs.
493,000 Loan for 20 Years Monthly Payment Total Amount Paid
5.50% 3,391.28 813,908.26
6.00% 3,532.01 847,681.23
6.50% 3,675.68 882,162.13
Can I afford a 493,000 home?
The monthly payment of a 493000 loan at 5.50% is 3,391.28.
Percentage of Income SpentMonthly Income Required
15% 25,481
17.5% 21,841
20% 19,111
22.5% 16,988
25% 15,289
27.5% 13,899
30% 12,741
32.5% 11,761
35% 10,921
37.5% 10,193
40% 9,556
20 Year Loan at 5.50%
$5,000 34.39
$10,000 68.79
$15,000 103.18
$20,000 137.58
$25,000 171.97
$30,000 206.37
$35,000 240.76
$40,000 275.15
$45,000 309.55
$50,000 343.94
$55,000 378.34
$60,000 412.73
$65,000 447.13
$70,000 481.52
$75,000 515.92
$80,000 550.31
$85,000 584.70
$90,000 619.10
$95,000 653.49
$100,000 687.89
$105,000 722.28
$110,000 756.68
$115,000 791.07
$120,000 825.46
$125,000 859.86
$130,000 894.25
$135,000 928.65
$140,000 963.04
$145,000 997.44
$150,000 1,031.83
$155,000 1,066.23
$160,000 1,100.62
$165,000 1,135.01
$170,000 1,169.41
$175,000 1,203.80
$180,000 1,238.20
$185,000 1,272.59
$190,000 1,306.99
$195,000 1,341.38
$200,000 1,375.77
$205,000 1,410.17
$210,000 1,444.56
$215,000 1,478.96
$220,000 1,513.35
$225,000 1,547.75
$230,000 1,582.14
$235,000 1,616.54
$240,000 1,650.93
$245,000 1,685.32
$250,000 1,719.72
20 Year Loan at 5.50%
$255,000 1,754.11
$260,000 1,788.51
$265,000 1,822.90
$270,000 1,857.30
$275,000 1,891.69
$280,000 1,926.08
$285,000 1,960.48
$290,000 1,994.87
$295,000 2,029.27
$300,000 2,063.66
$305,000 2,098.06
$310,000 2,132.45
$315,000 2,166.85
$320,000 2,201.24
$325,000 2,235.63
$330,000 2,270.03
$335,000 2,304.42
$340,000 2,338.82
$345,000 2,373.21
$350,000 2,407.61
$355,000 2,442.00
$360,000 2,476.39
$365,000 2,510.79
$370,000 2,545.18
$375,000 2,579.58
$380,000 2,613.97
$385,000 2,648.37
$390,000 2,682.76
$395,000 2,717.15
$400,000 2,751.55
$405,000 2,785.94
$410,000 2,820.34
$415,000 2,854.73
$420,000 2,889.13
$425,000 2,923.52
$430,000 2,957.92
$435,000 2,992.31
$440,000 3,026.70
$445,000 3,061.10
$450,000 3,095.49
$455,000 3,129.89
$460,000 3,164.28
$465,000 3,198.68
$470,000 3,233.07
$475,000 3,267.46
$480,000 3,301.86
$485,000 3,336.25
$490,000 3,370.65
$495,000 3,405.04
$500,000 3,439.44
20 Year Loan at 5.50%
$505,000 3,473.83
$510,000 3,508.23
$515,000 3,542.62
$520,000 3,577.01
$525,000 3,611.41
$530,000 3,645.80
$535,000 3,680.20
$540,000 3,714.59
$545,000 3,748.99
$550,000 3,783.38
$555,000 3,817.77
$560,000 3,852.17
$565,000 3,886.56
$570,000 3,920.96
$575,000 3,955.35
$580,000 3,989.75
$585,000 4,024.14
$590,000 4,058.54
$595,000 4,092.93
$600,000 4,127.32
$605,000 4,161.72
$610,000 4,196.11
$615,000 4,230.51
$620,000 4,264.90
$625,000 4,299.30
$630,000 4,333.69
$635,000 4,368.08
$640,000 4,402.48
$645,000 4,436.87
$650,000 4,471.27
$655,000 4,505.66
$660,000 4,540.06
$665,000 4,574.45
$670,000 4,608.84
$675,000 4,643.24
$680,000 4,677.63
$685,000 4,712.03
$690,000 4,746.42
$695,000 4,780.82
$700,000 4,815.21
$705,000 4,849.61
$710,000 4,884.00
$715,000 4,918.39
$720,000 4,952.79
$725,000 4,987.18
$730,000 5,021.58
$735,000 5,055.97
$740,000 5,090.37
$745,000 5,124.76
$750,000 5,159.15
20 Year Loan at 5.50%
$755,000 5,193.55
$760,000 5,227.94
$765,000 5,262.34
$770,000 5,296.73
$775,000 5,331.13
$780,000 5,365.52
$785,000 5,399.92
$790,000 5,434.31
$795,000 5,468.70
$800,000 5,503.10
$805,000 5,537.49
$810,000 5,571.89
$815,000 5,606.28
$820,000 5,640.68
$825,000 5,675.07
$830,000 5,709.46
$835,000 5,743.86
$840,000 5,778.25
$845,000 5,812.65
$850,000 5,847.04
$855,000 5,881.44
$860,000 5,915.83
$865,000 5,950.23
$870,000 5,984.62
$875,000 6,019.01
$880,000 6,053.41
$885,000 6,087.80
$890,000 6,122.20
$895,000 6,156.59
$900,000 6,190.99
$905,000 6,225.38
$910,000 6,259.77
$915,000 6,294.17
$920,000 6,328.56
$925,000 6,362.96
$930,000 6,397.35
$935,000 6,431.75
$940,000 6,466.14
$945,000 6,500.54
$950,000 6,534.93
$955,000 6,569.32
$960,000 6,603.72
$965,000 6,638.11
$970,000 6,672.51
$975,000 6,706.90
$980,000 6,741.30
$985,000 6,775.69
$990,000 6,810.08
$995,000 6,844.48
$1,000,000 6,878.87

Frequently Asked Questions

Here are answers to help understand the basic concepts of amortization schedules.

  • What is an amortization schedule?
    An amortization schedule displays the payments required for paying off a loan or mortgage. Each payment is separated into the amount that goes towards interest with the rest being used to pay down the remaining balance.
  • What is the principal?
    The principal is the remaining balance to be paid off. Initially this is the full amount of the loan but each payment subtracts an amount. The term "principal balance" is often used to indicate this number.
  • What about a down payment?
    Most mortgages will require a down payment amount upon closing. Be sure to subtract this amount from your purchase price to obtain the actual amount of your loan. For example, if you purchase a home for $493,000 with a down payment of $98,600, you should create an amortization schedule based on a principal of $394,400.
  • How does the interest rate affect the total cost of a loan?
    The interest rate determines the amount of money that must be paid back the lender in addition to the original loan amount. A higher interest will result in higher monthly payments.
  • What can I use an amortization schedule for?
    Amortization schedules can be used for any type of asset, including home mortgages, car loans, credit cards, student loans and many more.