Mortgage Amortization Calculator

About Mortgage Amortization Calculator

A loan's fixed monthly payment stays the same every month, but the split between how much goes toward interest versus principal shifts significantly over the life of the loan — early payments are mostly interest, while later payments are mostly principal. An amortization schedule is the month-by-month breakdown that shows exactly this shift, and it's the level of detail a simple monthly-payment calculator doesn't provide.

This tool generates a complete amortization schedule for any loan amount, interest rate, and term — every single monthly payment, broken into its principal and interest components, alongside the remaining loan balance after that payment. Each row's interest is calculated on the current outstanding balance, which is exactly why the interest portion shrinks and the principal portion grows every month even though the total payment stays fixed.

Seeing the full schedule reveals something a summary total doesn't: how slowly the balance actually drops in the early years of a longer loan, since so much of each early payment goes toward interest rather than reducing principal. This is genuinely useful for understanding the real impact of an extra payment (which goes straight to principal and effectively skips ahead in the schedule), or for verifying a lender's own amortization table matches what the stated rate and term should produce.

The final row of the schedule is adjusted to exactly zero out the remaining balance, correctly accounting for the small rounding differences that accumulate over many months of a fixed payment amount — a detail that matters for the schedule to be mathematically accurate down to the last payment.

How it works

1. Enter the loan amount, rate, and term. The same inputs as a standard loan calculator.
2. View the summary totals. Monthly payment, total interest, and total payment at a glance.
3. Scroll the full schedule. Every payment's principal, interest, and remaining balance, month by month.