Amortization Calculator
See how each mortgage payment is divided between principal and interest, and track your remaining balance over time.
Monthly principal and interest
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Enter your details and calculate your amortization schedule.
Balance over time
- After 5 years
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- After 10 years
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- After 15 years
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Loan totals
- Total interest
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- Total paid
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- Payoff time
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Principal and interest by year
Your annual principal and interest payments will appear here.
Annual payment summary
| Year | Principal paid | Interest paid | Ending balance |
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Monthly payment schedule
| Payment | Principal | Interest | Total payment | Remaining balance |
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About amortization
Amortization is the process of paying off a loan over time with regular payments.
Each payment is split between:
- Principal — The amount that reduces your loan balance.
- Interest — The cost of borrowing the money.
Early in the loan, more of each payment usually goes toward interest. As the balance gets smaller, more of each payment goes toward principal.
How extra payments help
Paying extra toward principal can:
- Reduce your loan balance faster.
- Shorten the time it takes to pay off the loan.
- Reduce the total interest you pay.
Even a small recurring extra payment can make a difference over a long loan term.
What this calculator shows
This calculator can help you estimate:
- Your regular monthly payment.
- How much of each payment goes to principal and interest.
- Your remaining loan balance over time.
- Total interest paid.
- How extra payments may change your payoff date and total interest.
Calculator assumptions
This calculator assumes:
- A fixed interest rate for the full loan term.
- Payments are made monthly and on time.
- Extra payments are applied directly to principal.
- There are no prepayment penalties or extra lender fees.
- The interest rate and payment schedule do not change.
Actual loan terms may work differently depending on your lender.
A few terms to know
- Principal balance — The amount of the loan you still owe.
- Interest rate — The percentage charged for borrowing the money.
- Loan term — The length of time scheduled to repay the loan.
- Amortization schedule — A payment-by-payment breakdown showing principal, interest, and the remaining balance.
- Extra principal payment — Money paid in addition to the required payment to reduce the balance faster.