Table for Monthly Amortization Factors

Factors to use for loan term 14 years to 17 years .

1. Amortization Factor 1 to 4 years
2. Amortization Factor 5 to 8 years
3. Amortization Factor 9 to 13 years
4. Amortization Factor 14 to 17 years
5. Amortization Factor 18 to 21 years
6. Amortization Factor 22 to 25 years

<< Previous | Next >>

How to use Table for Monthly Amortization Factors?

House and Lot Contract Price: Php 10, 000, 000.00

Payment Scheme: In-house financing (with diminishing method of computing monthly amortizations.)

Reservation: Php 100, 000.00

Downpayment: {30% of the Contract Price} – {Reservation}
= {30% X Php 10, 000, 000.00} – { Php 100, 000.00}
= {Php 3, 000, 000.00} – {Php 100, 000.00}

Downpayment    = Php 2, 900, 000.00

70% Balance payable in 15 years at 19% p.a. interest

Monthly Amort. = {70% of Contract Price} X {Amortization Factor}

Amortization factor for 15 years @ 19% p.a.  = 0.01682876 (refer to table above)

Monthly Amortization = {70% X 10, 000, 000.00} X {0.01682876}
= Php 7, 000, 000.00 X 0.01682876

Monthly Amortization = Php 117, 801.32 per month for 15 years @ 19% p.a.