Websites such as Bankrate.com and CalculatorSoup.com allow the user to put together customized loan payment tables. The Bankrate website puts together mortgage amortization tables, while the Calculator Soup website works for mortgages, car loans and other types of loans as well.
To construct a loan payment table, the user needs to enter the amount of the loan, the term in months or years and the annual interest rate. When it comes to a mortgage amortization table, some calculators allow the user to insert information such as the homeowner's insurance premiums, property taxes and the private mortgage insurance premiums as well. PMI is a factor when the home buyer puts down less than 20 percent of the purchase price.
Another feature of a loan amortization table is the way that it splits interest and principal in the arrangement of the payments. In the early months of a loan, the majority of the payment pays for interest expense, with a smaller amount going toward principal. Over the life of the loan, this balance shifts so more of the payment goes toward the principal. In simple interest loans with no prepayment penalty, extra payments each month go straight toward principal, shortening the life of the loan.