Amortization Calculator

View a complete mortgage amortization schedule — see every payment, how much goes to principal vs. interest, and your remaining balance over time.

Loan Details

Loan Amount

Annual Interest Rate

Enter the mortgage interest rate (note rate), not APR

Loan Term

Years

Months

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Extra Monthly Payment (optional)

Additional principal payment each month

Start Month

Start Year

Summary

Monthly P&I$1,945.79

Payoff DateAugust 2056

Total Interest$400,485.94

Total Payments360 months

Total Cost$700,485.94

Balance Over Time

Amortization Schedule

Yearly amortization summary
Year	Principal	Interest	Balance
2026	$1,041.93	$6,741.25	$298,958.07
2027	$3,269.79	$20,079.74	$295,688.28
2028	$3,497.46	$19,852.07	$292,190.82
2029	$3,740.98	$19,608.55	$288,449.84
2030	$4,001.46	$19,348.07	$284,448.38
2031	$4,280.07	$19,069.46	$280,168.31
2032	$4,578.08	$18,771.45	$275,590.23
2033	$4,896.85	$18,452.69	$270,693.38
2034	$5,237.80	$18,111.73	$265,455.58
2035	$5,602.50	$17,747.03	$259,853.08
2036	$5,992.59	$17,356.94	$253,860.48
2037	$6,409.84	$16,939.69	$247,450.64
2038	$6,856.15	$16,493.38	$240,594.49
2039	$7,333.53	$16,016.00	$233,260.97
2040	$7,844.15	$15,505.39	$225,416.82
2041	$8,390.32	$14,959.21	$217,026.50
2042	$8,974.52	$14,375.01	$208,051.99
2043	$9,599.39	$13,750.14	$198,452.59
2044	$10,267.78	$13,081.75	$188,184.81
2045	$10,982.71	$12,366.83	$177,202.11
2046	$11,747.41	$11,602.12	$165,454.70
2047	$12,565.36	$10,784.18	$152,889.34
2048	$13,440.26	$9,909.28	$139,449.09
2049	$14,376.07	$8,973.46	$125,073.01
2050	$15,377.05	$7,972.48	$109,695.96
2051	$16,447.72	$6,901.81	$93,248.24
2052	$17,592.94	$5,756.59	$75,655.30
2053	$18,817.90	$4,531.63	$56,837.40
2054	$20,128.15	$3,221.38	$36,709.24
2055	$21,529.64	$1,819.90	$15,179.61
2056	$15,179.61	$386.75	$0.00

* Actual payments may vary due to rounding. Final payment may differ slightly.

Understanding Your Amortization Schedule

An amortization schedule is a table that shows the breakdown of each mortgage payment for the life of the loan. The key columns are: payment date, scheduled payment, principal paid, interest paid, and remaining balance.

The balance chart above shows visually how your remaining balance declines over time. The orange line, when shown, represents cumulative interest paid — giving you a clear picture of total borrowing cost at any point in the loan.

Frequently Asked Questions

: Amortization is the process of paying off a debt through regular scheduled payments. Each payment covers the interest accrued since the last payment, with the remainder reducing the principal balance. The schedule shows exactly how much of each payment goes to interest vs. principal.
: Interest is calculated on the outstanding balance. Early in the loan, the balance is highest, so interest charges are highest. As you make payments and the balance decreases, the interest portion of each payment shrinks and the principal portion grows.
: Extra principal payments reduce your outstanding balance immediately, which reduces future interest charges. This shortens the loan term and reduces total interest. The amortization schedule updates to reflect the accelerated payoff when you enter an extra monthly payment.
: The final payment is adjusted to bring the balance to exactly $0. Because standard payment formulas can leave a small residual due to rounding, the last payment is typically slightly less than the standard payment.