Amortization Calculator
See a complete month-by-month breakdown of any loan — how much of each payment goes to principal vs interest — and exactly how extra monthly payments can cut years off your loan and save thousands in interest.
Total Interest
$459,160
Over 30 years
Total Paid
$819,160
Principal + interest
Payoff Date
Apr 2056
360 payments
Balance Over Time
Year-by-year loan balance. Drops to $0 at payoff.
Amortization Schedule
| Year | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $27,305 | $4,024 | $23,282 | $355,976 |
| 2 | $27,305 | $4,293 | $23,012 | $351,683 |
| 3 | $27,305 | $4,581 | $22,725 | $347,102 |
| 4 | $27,305 | $4,888 | $22,418 | $342,214 |
| 5 | $27,305 | $5,215 | $22,090 | $337,000 |
| 6 | $27,305 | $5,564 | $21,741 | $331,435 |
| 7 | $27,305 | $5,937 | $21,368 | $325,498 |
| 8 | $27,305 | $6,334 | $20,971 | $319,164 |
| 9 | $27,305 | $6,759 | $20,547 | $312,405 |
| 10 | $27,305 | $7,211 | $20,094 | $305,194 |
| 11 | $27,305 | $7,694 | $19,611 | $297,500 |
| 12 | $27,305 | $8,210 | $19,096 | $289,290 |
| 13 | $27,305 | $8,759 | $18,546 | $280,531 |
| 14 | $27,305 | $9,346 | $17,959 | $271,185 |
| 15 | $27,305 | $9,972 | $17,333 | $261,213 |
| 16 | $27,305 | $10,640 | $16,666 | $250,573 |
| 17 | $27,305 | $11,352 | $15,953 | $239,221 |
| 18 | $27,305 | $12,113 | $15,193 | $227,108 |
| 19 | $27,305 | $12,924 | $14,382 | $214,184 |
| 20 | $27,305 | $13,789 | $13,516 | $200,395 |
| 21 | $27,305 | $14,713 | $12,592 | $185,682 |
| 22 | $27,305 | $15,698 | $11,607 | $169,984 |
| 23 | $27,305 | $16,750 | $10,556 | $153,234 |
| 24 | $27,305 | $17,871 | $9,434 | $135,363 |
| 25 | $27,305 | $19,068 | $8,237 | $116,295 |
| 26 | $27,305 | $20,345 | $6,960 | $95,950 |
| 27 | $27,305 | $21,708 | $5,598 | $74,242 |
| 28 | $27,305 | $23,162 | $4,144 | $51,081 |
| 29 | $27,305 | $24,713 | $2,593 | $26,368 |
| 30 | $27,305 | $26,368 | $938 | $0 |
Swipe the table sideways to see all columns →
How to use this calculator
Start with the loan amount (the total you're borrowing, not the home price). Then enter the interest rate and pick a loan term. The calculator instantly shows your monthly payment.
Leave Extra Monthly Payment at $0 to see your normal schedule. Set it above $0 — even $50 or $100 — to see how an extra payment each month shortens the loan and reduces total interest. The “With Extra Payments You Save” box appears with the exact dollar savings and months cut.
The Balance Over Time chart shows your loan balance year by year. When you add an extra payment, a second solid line appears and you can see the balance dropping to zero earlier than the original dashed line.
Below the chart is the full amortization schedule. Toggle between yearly summary and every-month detail. Scroll sideways on mobile to see all columns.
How it works
Amortization is the process of paying off a loan in equal monthly payments over a set period. Each payment is split between interest (a percentage of the current balance, charged by the lender) and principal (the portion that actually reduces your balance).
Because interest is calculated on the remaining balance, the split between principal and interest changes every month. Early in the loan, the balance is high, so almost all of your payment is interest and only a sliver goes to principal. As the balance shrinks, interest shrinks with it, so more of your payment goes to principal. On a 30-year mortgage, you typically don't cross the 50/50 split until about year 16.
Extra payments go 100% to principal. That's why they're so powerful. A single extra $100 in month one doesn't just save you $100 — it saves you every dollar of future interest that would have been charged on that $100 over the remaining life of the loan. Over 30 years, a consistent extra $100 per month can easily save you $70,000+ in interest and cut 5 years off a loan.
The math also explains why refinancing late in a loan can backfire. By then you're finally paying mostly principal — but a refinance resets the clock, so you're back to paying mostly interest again on the new loan.