Amortization Calculator
See how your loan is paid off over time. This schedule details how much of each mortgage payment reduces your loan balance versus how much goes to interest.
Get your complete schedule
We’ll email the full payment-by-payment amortization table to you.
Monthly Payment
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Total Interest Paid
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| # | Date | Principal | Interest | Balance |
|---|---|---|---|---|
| Enter your loan details to generate the schedule. | ||||
The first year is shown above. Unlock the complete amortization schedule in your inbox—same numbers we use for loan planning.
Understanding Your Schedule
This table shows how every single payment you make is split. In the early years of a loan, a much larger portion of your payment goes to interest. As you pay down the balance, more of your payment shifts to paying down the principal.
Want to see how to speed this up? Check out our Early Mortgage Payoff Calculator to learn how extra payments can save you thousands in interest.
Amortization FAQs
Why does so much of my payment go toward interest in the beginning?
Mortgages are "front-loaded" with interest. Because interest is calculated based on your remaining principal balance, your interest charge is highest in month one when the balance is at its maximum. As you slowly pay down the principal over the years, the interest portion of the calculation naturally decreases.
What happens to my schedule if I make an extra payment?
An extra principal-only payment bypasses the interest cycle entirely. It instantly lowers your remaining principal balance. Because your balance is lower, your next month's interest charge will be smaller, which naturally accelerates your journey down the amortization schedule and shaves time off the back end of the loan.
Can I change my amortization schedule without refinancing?
To officially change your mandatory payment schedule (e.g., permanently converting a 30-year loan into a 15-year loan with a new lower interest rate), you must refinance. However, you can unofficially achieve the same payoff timeline by voluntarily making larger monthly payments.