The scheduled mortgage payment refers to the amount that the borrower is obligated to pay for each repayment period.

The calculation of this payment amount factors in the principal, interest costs, mortgage insurance, financing points, etc.

After adding all the costs, the amortization table should show clearly what is the scheduled home loan payment that the borrower has to commit to.

When a borrower pays more than the scheduled amount, the excess will become partial repayment which will reduce the loan principal.

When less than the required amount is paid, it results in delinquency and might eventually lead to default.

For home loans with adjustable rates that allow negative amortization, the payment amount determined by lenders can depend on various variables.

This can result in changing payment amounts over time. But it will eventually revert to a fully amortizing loan.

For loans that don’t allow negative amortization, which can be found in both ARMs and FRMs, the scheduled payment will be based on a fully amortizing loan.