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This is EzCalculator's amazing Negative Amortization Table creator.
As far as we know it is the only Negative Amortization Table creator on the Net!
This Ez Calculator page prints out amortization tables for negative amortization mortgages. In case you don't know, a negative amortization mortgage, or Neg Am, is a mortgage where the original monthly payment is very low for the first few years of the mortgage and then, after a certain pre-set time the rate will change to a normal value. The advantage is, you can qualify for a very large mortgage even if you can't afford a large monthly payment. Ez Calculator has developed this "Neg Am" Amortization calculator to let you see every aspect of this type of mortgage.
Note: Don't confuse negative or reverse amortization mortgages with reverse mortgages. A reverse mortgage is when someone owns his/her house outright (no mortgage) and essentially, sells it and receives monthly payments and the right to remain living in the house for the rest of his/her life. EZ Calculator does not yet have a calculator for reverse mortgages. The payment for reverse mortgage varies by buyer and the age of the seller.
Most times an advertisement for a negative amortization mortgage will tell you the principal you can borrow and the payment you can make in the negative amortization period of the mortgage. You'll have to look in the fine print, or ask the lender/broker in order to find the length of the negative amortization period and what the interest rate will be after it ends.
Note: here are some typical terms for a negative amortization mortgage.
1) 40 years, $398000 mortgage, $1298 monthly payment for 5 years and then a 6.125% rate.
2) 30 years, $310000 mortgage, $999 monthly payment for 3 years and then a 7% rate.
3) 30 years, $199000 mortgage, $600 monthly payment for 4 years and then a 7.25% rate.
It is fortunate Negative Amor6tization Mortgages are no longer popular. In fact, these types of loans brought on the financial crisis in the U.S.