amortization schedule question.

3 Replies


I just got a mortgage and am trying to generate an amortization schedule but have been unable to match the banks first payment information. Does anyone know of a good program or have an excel sheet that will match. I get close but it bugs me that I can't get it to match. This is what info I have from the promissory note:

Principal: $750,000

Beg Date: 09/14/2021

Interest Calculation Method: 365/360 basis

Interest rate: 3.650%

Final Payment due on September 14, 2051

When I plug info into the online amortization schedule, the payment comes out to be $3,453.28, $2,2281.25 (interest), and  $1,172.03(principal)

However the email I have from the bank has the information below:
Summary of Account
Current Balance: $750,000.00
Interest Rate: 3.6500%
YTD Interest Paid: 0
Maturity Date: 9/14/51
Payment Information
Current Principal Due: $1,627.26
Current Interest Due: $1,825.00
TOTAL DUE: $3,452.26
Payment Due Date: 10/14/21


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@Nick Belsky.

Thanks. I have used Bankrate but this is Interest Calculation Method: 365/360 basis and they don't have it. I have tried other calculators but they all seem to be off from what the bank is calculating.